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

Hello Steemit:

How are you all, hope you all are doing well. So, today I am very thankful to professor @pelon53 for teaching us a very important topic about Telos blockchain and its main features. After attending this lecture, I understand many important features of Telos and how to use the Telos demo account, and how to use different Telos explorers.

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Let's start with the answer to the given questions,

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

Telos Blockchain:

Telos is the third generation blockchain. Telos can produce 5,000 transactions in under one second. Blockchain become relevant in 2009 with the release of bitcoin, a digital currency used for monetary transactions. It regained relevance in 2015 with the release of Ethereum which introduce customizable unchained smart contracts for developers.

The real breakthrough came with the EOSIO protocol in 2018 upon which Telos was built. It is a third-generation blockchain with a delegated proof of stake consensus algorithm. It is a network designed to be fast scalable and secure making it perfect for DAPP Development and business solutions.

Telos plays host to a powerful set of features and delivers on the promise of incredible network speeds and scale. The telos project aims to improve upon the decentralization block pay structure, development adoption, overall security, and governance they found lacking in the EOS ecosystem. To accomplish this, this telos has implemented 21 active validator nodes which can be voted in and out with standby validators by telos coin holders every two and a half minutes along with random automatic rotations to ensure standby node readiness.

TLOS Potential:

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Telos blockchain went live back in 2018 and has been integrated into hundreds of active projects. Taking a peek at the daily chart we see in September telos well with a strong pump into new all-time highs.

We see further reaches into price discovery for telos before the end of the year. Let's jump into the block explorer, over on telos.bloks.io, we can see,

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Accounts : 962,717
TLOS Total Supply : 355,208,370
Circulating Supply : 209,667,761

This indicates that Telos has the potential to gain people's trust by providing features that are different from other blockchains. Day by day people's understand telos blockchain and there aim to provide speedy transactions, low transactions fee and scalability which are not provided by other blockchains. These advantages will make this blockchain popular and most use blockchain by people in the future.

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

For this question, I go to Telos Tracker Explorer and see the last irreversible block.
After going to Telos Tracker Explorer, this interface will appear on the screen. The last irreversible block is seen.

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I copied that last irreversible block number and paste it on the search bar. Then this interface will appear which has the details of the last irreversible block.

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Last Irreversible Block Details:

Block Number: 173605980
Block Producer: teloskitchen
Date: 2021-09-15
Time: 13:59:41.500
Block Signature: SIG_K1_Kiu1f3bcnNdNSEGqN6dynMYxZAsaeS1wDGZ1gdGxLzSLUt47RiXPFbFhPvv9nSVFn1aDvM3Rgt5ZSeMYFhWq1zavH5XMSS

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

The 3 block explorers which i used are,

So I checked these two 15,007,389 and 171,790,000 blocks by using above mentioned telos explorers.

Block 15,007,389:

Telos Bloks:

This block is not found on Telos Bloks.

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Telos EOSX:

This block is also not found on Telos EOSX.

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Telos Tracker:

Block 15,007,389 is found on Telos Tracker and these are the details.

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Block Number: 15007389
Block Producer: octagontelos
Date: 2019-03-10
Time: 17:56:52.500
Block Signature: SIG_K1_KYzHeBvtcoMQQXf6LNyZzNQghw5mjtkRMmpmeswRCCr9TRgXThLa9pMjG4z59rMrJGx4D84RCupeBosA4L6ka6Fr9Rt2M1

Block 171,790,000:

Telos Bloks:

This block BP and date are,

  • Block Producer: teloskitchen
  • Date: Sep-05-2021

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Telos EOSX:

This block BP and date are,

  • Block Producer: teloskitchen
  • Date: 2021-Sep-05

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Telos Tracker:

This block BP and date are,

  • Block Producer: teloskitchen
  • Date: 2021-09-05

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4.- In 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 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?

For this question, I go to Telos Swap demo platform and then connect my MetaMask wallet and after that transfer 20 Tlos to fiat and determine the gas consumed. In these steps, I have done this task.

Transfer 20 TLOS to Fiat:

Step 1:
Firstly I go to Telos Swap and then click on Connect Wallet.

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Step 2:
Then Click on Metamask.

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Step 3:
After that enter your Metamask password and then click on Unlock.

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Step 4:
Then click on Approve. In this way, you can connect your Telos to the Metamask wallet.

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Step 5:
After that click on Get Testnet EVM TLOS and then this message will appear.

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Step 6:
Then enter the TLOS amount. I entered 20 TLOS and select Fiat currency. And then click on Swap.

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Step 7:
Then click on Confirm Swap.

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Step 8:
Then click on Confirm. In this way, you can swap TLOS into Fiat.

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The gas fee on swapping 20 TLOS to Fiat is just 0.10318 TLOS.

Transfer 100,000 Fiat to SOON:

Step 1:
Enter the Fiat amount 100,000 and then click on Swap.

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Step 2:
Then click on Confirm Swap.

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Step 3:
Click on Confirm to confirm the transaction.

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The gas fee on swapping of 100,000 Fiat into SOON is just 0.10351 TLOS..

As you see that in both swapping whether it is 20 TLOS to Fiat or 100,000 Fiat to SOON, the gas fee is almost the same and is very low compared to other blockchains.

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Conclusion:

In this informative lecture, I understand many important things about Telos blockchain. As we know, in the future this blockchain beat other blockchains by their speedy transactions, low transaction fees, and technology. We also use 3 Telos explorer and learn how to retrieve block information.

Telos gives us a demo platform on which users can learn how to use this blockchain. This is a great initiative taken by Telos. Use can connect Metamask wallet to Telos demo account and swap their desired tokens.

The most important thing in this blockchain is the transaction fee. If we compare the gas fee to ETH then the TLOS gas fee is almost 0.1% less than ETH blockchain.

This post is plagiarism-free. Hope I answered all the questions correctly. Thank you for reading.


Special Thanks to,

@pelon53
@steemcurator01
@steemcurator02

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