Telos Blockchain- Crypto Academy/ S4W2 - Homework post for pelon53

in SteemitCryptoAcademy4 months ago (edited)

QUESTION 1
What is your opinion about the telos blockchain? What do you hope will happen to the tlos token. Justify your answer.

The Telos Blockchain

Definition

30BCEE02-6C25-4D2B-AAD3-19DEDC20CC8D.jpeg

Image Source

The Telos Blockchain is known a high capacity network and known to be the most active blockchain platform in the world. The reason the Telos blockchain is noted for this is because the Telos Blockchain features are actually robust and include advanced voting features as well as smart contracts when talking in relation to the blockchain governance.

When It comes to decentralization, the Telos blockchain is platform is known to be the most decentralized platform when compared to other blockchains such as the bitcoin blockchain and the ethereum blockchain. With this, we can say telos blockchain came into play to take advantage of the limitations of the other blockchains such as the bitcoin and the ethereum.

Characeristics of the Telos blockchain

  • They Foster sense of adoption
  • Highly Secured
  • Highly Scalable
  • Smart contracts
  • A very good Decentralized nature.

My Opinion on the Telos Blockchain

In terms of smart contracts, I see the Telos Blockchain to surpase the other blockchains such as the ehereum, bitcoin and tron blockchain.
…………………

Justification
With the decentralized nature of the telos blockchain which provides equal rights as well as status to the users and also taking out the presence of any third party. This makes the distribution of the native token being made equal and no ICO is held as well. With this, we see removal of the whales power putting equal status to all the users.

Going to scability and the block generation time, when we put the usage of multiple computers cores and the delegated prove of stake algorithm, we have a high delivering speed if compared to other blockchains. I will bring out some of the block genearation time below.

  • Telos blockchain: 0.5s
  • Ethereum blockchain: 15s
  • Bitcoin blockchain:10m

Looking at the blockchain times, we that the telos blockchain has the smallest time making it more efficient.

Also the cost of transaction in the Telos blockchain is far less in relation to the other blockchain. We will see that in the next questions below.

My hope for the Tlos token

69B284D2-4567-457F-B933-FC6FE8947314.jpeg

I see the Tlos token to reach at least $3 before the end of next year. I will explain below vividly why I see this to happen, but before that lets take a view on the current parameter of the Tlos token

  • Price; $0.8
  • Market capitalization; $223,127,859.8
  • Volume; $1400,033.43
  • Ranking; 267
  • Circulating supply; 270,123,444 TLOS

As I said above, I see a bullish movement of the Tlos token, this is becaue when we compare the tlos blockchain and the other blockchains it has relatively lower transactions and more secured and scalable. With all this It will attract more investors to the tlos token which will taken it to a bullish move.

E952FA30-55B9-4B60-AC7C-F679C37DB2AB.jpeg

QUESTION 2
Using the telos tracker block explorer, take a screenshot of the last irreversible block as the time of performing your task and detail the BP and the date

Last Irreversibe block on the telos blockchain tracker.

Step 1

We begin by logging into the telos tracker blockexplorer

AE49B82B-C642-4E58-BE27-84F293E931A6.jpeg

Step 2

After logging in, we copy the last block number and paste on the search section to view the various details.
8B891D10-F71D-4DEB-8799-49B53BAA8E44.jpeg

Details;
Block number
174099690

Block producer
teloskitchen

Date
18/09/2021

Block ID
174099690

Number of transactions
0

5DF94345-8C21-4A57-9F4A-B931C0A29D7D.jpeg

QUESTION 3
Check in the 3 block explorers, the blocks: 15,007389 and 171,790000. Show the BP and the date of those blocks (screenshot required)

B) Using the Telos EOSX block explorer

Checking block 15007389

Step 1

We start by logging into the Telos EOSX

08D55743-F77A-4CEF-B236-AA288DFEA8B0.jpeg

Step 2

We then copy and paste the block 15007389 in the search section.

CC7C8A01-4971-44FF-8462-BCB19C39C7DC.jpeg

Results:
Error message as shown on screenshot above.

……………………….

Checking block 171790000

Step 1

We start by logging into the Telos EOSX

AE37E9C4-9E4C-4245-9C32-5A530E9964FE.jpeg

Step 2

We then copy and paste the block 171790000 in the search section.

B0951E93-1D0A-487B-81B2-5AF4A63DECD7.jpeg

Results:

  • Block number; 171790000
  • Block producer; teloskitchen
  • Timestamp; 2021-sep-05
  • Total CPU usage; 5 ms 675 us
  • Total NET usage179 B
  • Number of transactions; 1

B) Using the Telostracker block explorer

Checking block 15007389

Step 1

We start by logging into the Telos EOSX

71416C50-0782-4F7C-80F7-0A5F03C01BC2.jpeg

Step 2

We then copy and paste the block 15007389 in the search section.

BA26357C-401D-400A-95B6-E350EC845162.jpeg

Results:

  • Block number; 15007389
  • Block producer; octagontelos
  • Timestamp; 2019-03-10
  • Number of transactions; 0

……………………….

Checking block 171790000

Step 1

We start by logging into the Telos EOSX

E0B7BAB6-A006-46CB-A935-5A8551F8CD0D.jpeg

Step 2

We then copy and paste the block 171790000 in the search section.

78BB7451-A250-47EC-A4D4-DFAB5BA16FDA.jpeg

Results:

  • Block number; 171790000
  • Block producer; teloskitchen
  • Timestamp; 2021-09-05
  • Block id; 171790000
  • Number of transactions; 1

C) Using the Telos bloks block explorer

Checking block 15007389

Step 1

We start by logging into the Telos

8C1C6185-E8B0-457A-B908-5E55C834820B.jpeg

Step 2

We then copy and paste the block 15007389 in the search section.

1C7C1603-B48F-4157-A5A9-0583F85B1F26.jpeg

Results:
Invalid account as shown on the screenshot above.

……………………….

Checking block 171790000

Step 1

We start by logging into the Telos EOSX

AF66DF62-908E-439A-8401-E82A840D8ABE.jpeg

Step 2

We then copy and paste the block 171790000 in the search section.

A9E9416B-490D-4BD8-ACAC-1A486D70EB4D.jpeg

Results:

  • Block number; 171790000
  • Block producer; teloskitchen
  • Timestamp; sept-05-2021
  • Cpu/net; 5675/1432
  • Number of transactions; 1

13D6A488-6A39-40AB-8313-1825A5CF251C.jpeg

QUESTION 4
In the telos swap demo platform, click here connect the wallet to metamast, then transfer 20 to fiat. And determine the gas you consumed. Then make the 100,000 fiat to soon transaction and determine the gas consumed. Show the screenshots of the whole process that you ran. Was the gas consumption excessive in both cases? Explain.

Connecting Metamask

We can connect the wallet to the metamask in the following procedures;

Step 1

We log into the teslo website and clicking in connect.

6788DDA8-C1FA-48D4-B59E-1915B392DA28.jpeg

Step 2

We click on metamask.

30456CB0-B738-4681-9397-89FC830C8066.jpeg

Step 3

We then finalize it in the following procedures.
By clicking on the get testnet EVM TLOS and we wil see the successful sent message.

79518EE8-78D7-4CDB-B086-7B1856D9E9B1.jpeg

4E2002CB-64BF-40A6-A833-65D323559E6E.jpeg

Transfering 20 Tlos to FIAT

We can transfers 20 Tlos to FIAT in the following steps. We begin by clicking on the test demoswap now button.

0D9838E3-11CF-4AEC-9792-5BF17651DF3C.jpeg

we then input 20 on the exchange and take wap which we will confirm it in the next pop up.

E884230A-6728-41C4-8A93-644D17D951A9.jpeg

99FED54F-8A7B-4474-8570-9E486F83CD15.jpeg

440CBD48-226D-4C65-962B-88323B45382D.jpeg

Transaction successful

F8B5EA82-B5EF-4AF3-9A52-E35BBF52D052.jpeg

Changing 100000 FIAT to SOON

we still begin by clicking on the test demoswap button, we input the amount to swap which is 100000 FIAT

8A61B6AA-323D-4D53-BCFF-C44ACA9DAF87.jpeg

we then veify the process by following the steps below.

335B37B6-C674-436A-BC7D-17B6196B5BAD.jpeg

Gas fee consumption

20Tlos to FIAT = 0.1Tlos : 0.08$

100000FIAT to SOON = 0.1Tlos : 0.08$

When looking at the gas fee consumed, we see a very minimal consumption especially when compared with the gas fee of other blockchains.

Conclusion

To conclude, so far we have seen the tlos blockchain and its decentralized nature. We have also see how effective the telos blockchain could be when in terms of scalabiliy, smart contracts, transactions fee, with all this we see that tlos token is a great token to invest in.

Sort:  
Loading...

Coin Marketplace

STEEM 0.39
TRX 0.07
JST 0.051
BTC 42655.56
ETH 3190.37
USDT 1.00
SBD 4.74