Repost!Repost!!Repost!!! - [Chiliz] - Crypto Academy S5W5 - Homework Post for @imagen
Here is the link. (https://steemit.com/hive-108451/@badmus-official/chiliz-crypto-academy-s5w5-homework-post-for-imagen)
to the expired post @steemcurator02
Hello everyone, meet me @badmus-official once again in another great week in the Crypto Academy.
Here we are once again in week 5 of the fifth season, it's been a lovely season thus far. on today's topic, I will be giving insights on one of the blockchain networks known as "chiliz", the course was tutored by professor @imagen, you can as well join me and study from the Page.
Below is my submission to the assignment, Stay on, and wish you a happy reading!!
The Proof of Authority (PoA) protocol is transforming into perhaps one of the most interesting arrangements of blockchain innovation as the proof of authority brings more credibility and problem solving to the blockchain lacking.
Proof of Stake was intended to take care of the issues of Proof of work, Be that as it may, Proof of stake has its downsides, while Proof of Work-based blockchain has execution limits, Proof of Stake keeps on battling adaptability. Proof of Authority was built to be quicker and more adaptable than the previous consensus.
Proof of Authority is an improvement of Proof of Stake, wherein, the validators of the organization stake their reputation as opposed to staking their coins that were seen in PoS, This makes the PoA protocol safer since in such a case that there is a venomous movement by an approving block, it tends to be followed down to the individual who possesses the block.
Proof of Authority (PoA) is a consensus mechanism that presents a useful and proficient answer for blockchain trilemma.
In summary, The Proof of Authority uses the worth of validators' reputations, which implies that block validators are not staking coins rather their reputation instead.
Socios.com platform is a crypto-based platform, deliberately designed for fans to engage with each other of a specific game or club, and so in other to draw the fans nearer to their respective club, with the intention of fans as well to be part of the club decision making.
The socios.com platform was built on the Chiliz blockchain, making use of the CHZ – Chiliz token.
The socios.com platform presently has partners in loads of games like football, gaming, Tennis, and others which the number continues to develop. The following are the current partners related to the socio platform.
- The image below shows Socio Football partners.
- The image below shows Socio-Gaming partners.
- The image below shows Socio Fighting partners.
- The image below shows Socio Motorsport partners.
- The image below shows Socio Cricket partners.
- The image below shows Socio Basketball partners.
- The image below shows Socio Tennis partners.
- The image below shows Socio American Football Partners.
- The image below shows Socio Ice Hockey Partners.
Question 3 - Download and install the Socios.com application. Create an account. Explore the application and describe its functions. Show Screenshots (If necessary use a VPN if the application is not available in your country or locality).
Socios.com platform can be experienced through the application called (Socios application). Socios application is a mobile crypto wallet application, with features that include, a fan token trade platform and it's an application where fan token holders can affect their cherished club intentions.
I will be showing a full illustration of how to install the Android application of the Socios app
- Step 1
You go to play store and type socio in the space bar and it displays as shown below and then clicks the install button
- Step 2
After a successful download of the app which is 53Mb in size for the android application, then you click open
- Step 3
Launching the application displays this, then you wait for the page to load 100%
- Step 4
Then it takes you to the welcome page where you click Get started as shown below
- Step 5
Then it takes you to the Login/Register page where you are required to fill in your phone number and await verification for confirmation.
- Step 6
Then after verifying your phone number, you are required to register by putting in your username and as well your e-mail which verification will be sent. Then After you click Register Now
- Step 7
Then you will be redirected to the email you register with for verification, where you are only required to click verify from your email account.
- Step 8
Then Congratulations, Your account has been successfully created.
- Step 9
Then you get a pop-up notification telling you your account has been awarded and your limit has been increased, just as seen below
- Step 10
Then you go back to the app, which then displays its features, whereby you click on next
- Step 11
This step is a continuation of the previous page which you keep on clicking till the end of the page, which is page 4 which then you click on the tab finish.
- Step 12
Then you click on the top corner of the socios app and you get to view your account details and as well the account level
- Step 13
After you have successfully verified your account, you will be rewarded with a token called SSU token, which you can view right from your wallet on the app.
I will be exploring the socios application and will as well describe the major functions of the App.
HOME
Here on the homepage, we get to see the basic functions of the app, and as well see the tokens that belong to individual teams, from the picture we saw Villareal tokens and as well the TRA Fan token, we could as well see the major category and partners of the socios.
Clicking on the CHZ we get to decide whether to add CHZ, where we get to decide what amount of CHZ we would like to buy in EURO currency.
Trading
From the Homepage, we get to click on market to see available fan tokens we would like to trade.
In my case, I choose the AC Millan fan token, and from there you can decide to sell, where the token is currently worth 18.03 $CHZ.
Vote
From the vote features, we get to participate in the voting decisions on the app, where we get to see the current ongoing poll just as seen in the AC Millan poll.
From the AC Milan poll, fans are required to vote the Christmas theme profile picture for the AC Milan officials page, where they are provided with four options, note that you are required to own the Fan Token before you can participate in voting.
- Wallet:
From the wallet page, we get to see the amount of $CHZ we currently possess, just as seen from my wallet that I only possess 2 SSU yet.
HUNT
From the hunt page, we get to hunt for token-based on nearby locations.
Then we wait for every 30 seconds before we get to make another hunt.
Rewards
The rewards page is where fans get to be rewarded through the app by playing a quiz, fans as well can earn free tickets from participating in a quiz and as well can earn digital collectibles.
The second image is the badges page, where fans get to acquire badges from their respective club by participating in little tasks on the app.
Note: All screenshots from this task are taken from the Socios Android Application
Question 4 - Make a purchase of the CHZ token for a minimum value of 10 USD from your verified account of the exchange of your choice. Describe the process. Indicate the ATH of the coin and when it was reached. Show Screenshots
- Step - 1
Firstly, I log on to my Binance account, then on the tab below, I click on market.
Afterward, I search for the token I am willing to purchase CHZ, then I pick the currency pair CHZ/USDT.
- Step - 2
Then I choose to buy 20dollars worth of CHZ which is equivalent to 74 CHZ, I purchase the order at the rate of $0.2714/CHZ.
After some seconds, my order was already filled just as seen in the image below.
- Transaction Completed.
Note: All Screenshot for this task is taken from my Binance Mobile Application
I will be showing screenshots and analysis from CoinGecko of the Last All-time High of the CHZ coin.
The image above is currently indicating to us the current chiliz price and market statistic, The Chiliz All-Time High happened 9 months ago with a price of $0.878633/CHZ on Mar 13, 2021,. I will be presenting the Chiliz analysis in a tabular format below.
| CHZ Price | $0.268408 |
|---|---|
| Market Cap | $1,437,862,366 |
| Market Cap Rank | #88 |
| All-Time High | $0.878633 , Mar 13, 2021 (9 months ago) |
| All-Time Low | $0.00410887 , Sep 28, 2019 (about 2 years |
| Circulating Supply | 5.3 Billion CHZ |
| Total Supply | 8.89 Billion CHZ |
Question 5 - Enter the Chiliz Exchange and indicate the prices in CHZ and their equivalent in USD of the following Fan Tokens at the time of writing your assignment: FC Barcelona, Juventus, and Paris Saint-Germain. Show Screenshots.
Like I said earlier, on the socio platform in which partners have a unique coin to their separate clubs, I will be giving the following analysis on the football category where I will be exploring the Following team Fans Token.
- FC Barcelona:
| Fan Token | BAR/CHZ |
|---|---|
| CHZ Price | 30.01 CHZ |
| Amount in USD | $8.04 |
| Date of Analysis | 17th December 2021 |
- Juventus
| Fan Token | JUV/CHZ |
|---|---|
| CHZ Price | 30.57 CHZ |
| Amount in USD | $8.10 |
| Date of Analysis | 17th December 2021 |
- Paris Saint-Germain
| Fan Token | PSG/CHZ |
|---|---|
| CHZ Price | 51.13 CHZ |
| Amount in USD | $13.87 |
| Date of Analysis | 17th December 2021 |
Question 6 - How is the value of a club or team's Fan Token affected before and after playing a match? If the result is a victory, does its value go up? On the contrary, if it suffers a defeat, does its price go down in the market? Reason for your answer and present at least one recent example, preferably in the week between Sunday 12 and Saturday 18 December.
To answer this question, I will be analyzing the Paris Saint-Germain Fan Token corresponding to their last two matches and I as well will show the effect of the football match-winning on the PSG Fan Token.
The PSG team had their last two games played on Tue 7th December against Club Brugge as their last match of the UEFA Champions League group stage. The match ended up with 4 -1 winning to the PSG team.
From the analysis above, we could see the PSG Fan token market behavior in the time frame of 30 minutes interval, the gameplay started at 18:45, before the match the market was on bullish thou not very strong then after the match began we started experiencing a downtrend which means sellers at that moment were controlling the market, this was a little bit surprising to expectations despite the winning the team is currently possessing but this then brings to my belief that the loss or winning of the team doesn't control the market behavior of the PSG Fan Token, rather some other moment might have cause improvements such as buying new players, new management or a new coach.
Another insight to look at is the other gameplay that happened between the PSG team and Monaco on 12th December, A Ligue 1 match.
The game as well happened with winning on the PSG team side, A gameplay of 2-0, where one of the most favorite PSG players (Mbappe) scored 2 goals that day.
From the image above, we could see the market the direction after the second gameplay on Dec 12, before the match the PSG Token was actually stable a little bit in an uptrend as we get to see the market then trending above the macd indicator, later after the match was played there was a little uptrend but afterward the following day December 13, the market suffered a heavy loss as we get to see the market moves in a heavy downtrend next.
My Opinion:These two analyses have shown, have been able to decide that the win or loss of the team doesn't determine the market value rather other interesting features like new management or cup winning might increase the value of the Fan Token.
Socio.com has been a fantastic platform despite that it's still in developing mode, the platform possesses a lot of attractive features with a very more optimistic uprise in the future. With features such as vote, polling, fans can be pleased to partake in great deals, as an individual everyone loves to be heard and that's what the socio platform promise where it states "Be more than a fan".
The Fan token is mostly impressive especially to crypto specialists which with management decisions everyone can easily predict which token will rise or drop in the future, it is a very impressive business idea that I as well would be dealing with later in the future.
I believe have been able to made justice to the homework task, as I have properly explained the chiliz network and as well the socio app features.
Thank you professor @imagen, it's quite an interesting topic which I was happy to participate in.
Steemit Cryptography Student:
Here is the link to the expired post @steemcurator02.