Telos Blockchain - Crypto Academy / S4W2 - Homework Post for Professor @pelon53.

_{Image edited using Canva}

Hello Steemians, hope you all are doing fantastic. This is Week 2 of Season 4, and we are moving strong. This week, prof @pelon53 gave an insightful lesson on Telos Blockchain, and I will be doing the homework task from the lesson.

Question 1: What is your opinion about Telos Blockchain? What do you hope will happen to the Tlos token? Justify your answer

Telos Blockchain

Telos Blockchain is a public blockchain that runs on the EOSIO software built to solve transaction speed and scalability issues of other blockchains like the Ethereum, Bitcoin, EOS, etc.. The launch of the Telos Main network was in December. 2018.

source

The Telos Blockchain is a third-generation blockchain, also one of the fastest blockchains creating a new block every 0.5 seconds. The Telos network supports NFT, DApps, social media, Defi games, etc.

The Telos blockchain developers adopted and tested the Telos EVM (Ethereum Virtual Machine) on the Telos Testnet. This will allow developers to run Ethereum based projects on the Telos blockchain with meager transaction costs enabling interoperability on the Telos blockchain.

The Telos Blockchain is a decentralized system, and verifying, authorizing, and auditing transactions are done by users of the network called Block Producers (BP). The BPs operate under a governance system that guides their conduct and activities. Also, to avoid monopoly caused by crypto whales, the Telos blockchain shared its native token Tlos fairly among nodes and ensured a max of 40,000 Tlos per account.

---

Tlos Token

Tlos is the native token of the Telos Blockchain used for different purposes or activities being done on the blockchain. Examples of such activities include voting, purchasing resources helpful in the network like RAM, CPU, etc.

The current price of Tlos is priced at $0.8332, a daily trading volume of $4,350,839, market-cap at **$225,054,990, and a circulating supply of 270,123,443.84 Tlos.

_{image of Tlos coin details taken from coinmarketcap}

The Telos blockchain supports various dapps and smart contracts. With over 100 smart contracts present on the blockchain, the EVM adoption will enable Ethereum based dapp to be operational on the Telos blockchain. Using Tlosas the gas fee will lead to more acceptability of the coin. With this, the Tlos coin is expected to hit the $1 mark and surpass it also.

Question 2: Using the telos block explorer tracker, take a screenshot of the last irreversible block at the time of your task and detail the BP and date.

Last Irreversible Block

The last irreversible block on the Telos Block Explorer Tracker is Block 173757427 as of this writing, and the Block Producer is infinitybloc.

_{image taken from telos block explorer}

The Block producer infinityblock has 396,227.5774 TLOS and has 0.8000 TLOS tokens staked on the Telos blockchain.

_{image taken from telos block explorer}

Question 3: Verify in the 3 block explorers, the blocks: 15,007,389 and 171,790,000, show the BP and date of those blocks. Screenshots are required

1. Telos Tracker

Block 15007389

_{screenshot of block 15007389 details taken from telos tracker}

The Block Producer of block 15007389 is octagontelos and the block was created on 17:56:52 10th March 2019

Block 171790000

_{screenshot of block 171790000 details taken from telos tracker}

The Block Producer of block 171790000 is teloskitchen and the block was created on 01:30:15 5th September 2021

---

2. Telos EOSX

Block 15007389

_{screenshot of block 15007389 details taken from telos EOSXr}

The block 15007389 showed operation failed

Block 171790000

_{screenshot of block 171790000 details taken from telos EOSX}

The Block Producer of block 171790000 is teloskitchen and the block was created on 02:30:15 5th September 2021

---

3. Telos Bloks

Block 15007389

_{screenshot of block 15007389 details taken from telos Bloks}

Block 15007389 is tagged Invalid

Block 171790000

_{screenshot of block 171790000 details taken from telos Bloks}

The Block Producer of block 171790000 is teloskitchen and the block was created on 02:30:15 5th September 2021

Question 4: On the Telos swap demo platform click here. Connect the wallet to Metamask. Then transfer 20 Tlos to Fiat. And determine the gas you consumed. Then perform the transaction from 100,000 Fiat to Soon, and determine the gas consumed. Show the screenshots of the whole process you executed. In both cases, the gas consumption was excessive? Explain?

Transaction On Telos Swap Demo Platform

We need to visit the telos demo site to run a transaction on the telos swap demo platform. On the site, click on connect wallet.

_{image taken from telos swap demo}

Then you click on the Metamask icon to connect your metamask

_{image taken from telos swap demo}

Afterward, the Metamask is connected. Click on the Get Testnet EVM TLOS

_{image taken from telos swap demo}

Next, click on the Test DemoSwap.

_{image taken from telos swap demo}

---

Swap 20 Tlos for FIAT

A swap toolbox is shown with the Tlos coin and a drop-down arrow to select a currency to swap on the Demo Swap.

_{image taken from telos swap demo}

FIAT was selected, and a swap of 20 Tlos to Fiat was initiated

_{image taken from telos swap demo}

20 Tlos is equivalent to 7108970 FIAT. A pop-up comes up indicating I confirm the Swap. I clicked on confirm Swap

_{image taken from telos swap demo}

After clicking on confirm Swap, the metamask wallet pop up to confirm the transaction. I clicked on confirm, and the Swap was submitted, and the transaction was successful. The gas fee for this swap cost 0.000276Tlos

_{image taken from telos swap demo}

---

Swap 100000 FIAT for Soon

To swap FIAT to SOON, we select the currencies as shown below.

_{image taken from telos swap demo}

A swap of 100000 FIAT for SOON was initiated.

_{image taken from telos swap demo}

After clicking on Swap, a pop-up shows requesting the swap confirmation. I clicked on confirm Swap

_{image taken from telos swap demo}

After clicking on confirm Swap, the metamask wallet popped up requesting the transaction to be confirmed.

_{image taken from telos swap demo}

I clicked on confirm, and the transaction was submitted, and the transaction was successful. The Gas Fee for this transaction was 0.0000501 Tlos ($0.000429)

_{image taken from telos swap demo}

---

Gas Consumed

For the 2 swaps initiated, the gas fee was less than a thousandth of a dollar. This implies that transaction cost on the Telos Blockchain is negligible and can be tagged free.

Conclusion

The Telos blockchain is a third-generation blockchain that solves transaction speed and scalability plaguing other blockchains like Bitcoin and Ethereum. It is one of the fastest blockchains creating an average of 2 blocks every second.

Telos blockchain is also a leading drive in blockchain interoperability; with the adoption and testing of the Telos EVM, Ethereum based projects can operate on the Telos blockchain and with lesser gas fees.

Thanks, prof @pelon53