Telos Blockchain - Crypto Academy / S4W2 - Homework Post for Professor @pelon53
Assalamualaikum and good night everyone, welcome to the Steemit Crypto Academy season 4. Tonight I will write a post about Telos Blockchain as homework for professor @pelon53 and this is my second post in this season.
The professor has explained about the Telos Blockchain in a learning post that has been shared with this community and now it's time for students to finish the homework that has been given, there are four main questions that must be answered in this homework and I will try to answer them in this post. I am very enthusiastic to start because this is a new knowledge for me.
Q1.) What is your opinion about Telos Blockchain? What do you hope will happen to the Telos token? Justify your answer
Since its launch in 2018, using a decentralized and high-security system, the Telos Blockchain has been very developed to date and its users are also increasing and more than 100 DApps applications are actively running on this network, some NFT Games and DeFi as well. have used it. DApps developers and users have easier access to develop their applications on the Blockchain that works with EOS.IO. Until now, Telos Blockchain has also collaborated with several well-known companies such as Zalando, Microsoft, Siemens, Cisco, etc.
In addition, Telos is also developing the Ethereum Virtual Machine (EVM) and the project is already in the testnet phase. If the EVM is fully successful, then it will also work with EOS.IO so that transactions can be carried out in a faster time and with lower gas costs of course. That way, energy consumption will also be lower for sure and this is very important for our natural ecosystem. This is a very profitable breakthrough that can indicate future progress and the TLOS token price also has the potential to increase.
To get good performance, Telos Blockchain works by using a consensus algorithm Delegated Proof of Stake (DPoS) which can create each block in 0.5 seconds and allows 10,000 transactions per second with the number of Block Producer (BP) is 42, with details that 21 BP is Active and 21 BP Reserves. To see some information from these BPs, you can visit the link https://telos.bloks.io/ and an image will appear as below.
Based on the image, you can find out a number of BP names, their current status, their location, links, percentage of votes, total votes, and rewards per day received by these BPs. The BPs work very competitively because each Active BP will receive the same reward while the Reserve BP only receives half of the prize, when one of the Active BPs does not work well and misses 15% of the Block then the BP will be removed and replaced with one Reserve BP. Telos Token (TLOS) holders have the right to choose BP and play a role in BP's ranking process. Now we also need to talk about the TLOS token and let's go over it.
| Telos Token | TLOS |
|---|---|
| Market Rank | 266 |
| Price | $ 0.8321 |
| Low –High in 24h | $ 0.8125 - $ 0.8692 |
| Volume in 24h | $ 2,149,024 |
| All Time High | $ 1.02 on Sept 10, 2021 |
| All Time Low | $ 0.009753 on Dec 05, 2020 |
| Marketcap | $ 224,777,482 |
| Circulating Supply | 270,123,443.84 TLOS |
| Total Supply | 355,208,371 TLOS |
| Market Dominance | 0.01% |
| Website | https://telos.net/ |
Based on the information above, we can see that the TLOS token has good future prospects and can be considered as an investment asset, even though TLOS has just reached the All Time High point a few days ago. I strongly support everything about this project because everything is very positive for the cryptocurrency ecosystem.
TLOS Whitepaper Link: https://telos.net/whitepaper
Q2.) 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
Go to https://telostracker.io/monitor
Copy the Block number in the Irreversible Block section. Irreversible Block in the picture below is 174068455 and then paste it into the search field.
After pressing the search button, the Block information display will appear as shown below.
Block Number: 174068455
Block Producer: telosmadrid1
Block Date: 2021-09-18T06:15:23.500
Producer Signature:
SIG_K1_KbfrjVqYFKVzx9RRX39A1UBUnkuynnHPBUUDhNGs8sVS34fJt7RUV7gUiVDwCeep9JyRcxPpoYH2iVYkqr9wsoGMphbmYq
Q3.) 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
Telos Blocks
A. Block Number: 15007389
Go to https://telos.bloks.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is not valid in this Block Explorer and here is the proof.
B. Block Number: 171790000
Go to https://telos.bloks.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is valid in this Block Explorer and here is the proof.
Block Producer: teloskitchen
Block Date: Sep-05-2021, 08:30:15 AM WIB
Telos EOSX
A. Block Number: 15007389
Go to https://telos.eosx.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is not valid in this Block Explorer and here is the proof.
B. Block Number: 171790000
Go to https://telos.eosx.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is valid in this Block Explorer and here is the proof.
Block Producer: teloskitchen
Block Date: 2021-Sep-05, 08:30:15
Telos Tracker
A. Block Number: 15007389
Go to https://telostracker.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is valid in this Block Explorer and here is the proof.
Block Producer: octagontelos
Block Date: 2019-03-10T17:56:52.500
B. Block Number: 171790000
Go to https://telostracker.io/ and paste the Block Number into search field like below picture.
It turns out that the Block Number is valid in this Block Explorer and here is the proof.
Block Producer: teloskitchen
Block Date: 2021-09-05T01:30:15.000
Q4.) In the Telos swap demo platform, https://demo.telos.finance/ , 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?
Go to https://demo.telos.finance/ and a display like the following will appear.
How to connect Metamask wallet to Telos demo
Click Connect Wallet in the upper right corner of the page.
Click Metamask that appears on the pop up menu.
Click Next.
Click Connect.
Metamask has been successfully connected.
Click Get Tesnet EVM TLOS.
Tesnet EVM TLOS added successfully.
How to Swap TLOS to FIAT (Transfer 20 TLOS to FIAT) and Determine The Gas Consumed
Click Test DemoSwap Now.
Click Swap to convert 20 TLOS into some FIAT.
Click Confirm Swap.
Click Confirm on the Metamask pop up menu.
The transaction is successful and a notification appears as follows.
Gas usage for this transaction is 51590000 and the following are the details.
How to Swap FIAT to SOON (Transfer 100,000 FIAT to SOON) and Determine The Gas Consumed
Click Test DemoSwap Now.
Click Swap to exchange 100000 FIAT to amount of SOON.
Click Confirm Swap.
Click Confirm on the Metamask pop up menu.
The transaction is successful and a notification appears as follows.
Gas usage for this transaction is 51755000 and the following are the details.
Based on the two cases above, we can conclude that Telos is very economical and consumes little gas and low fee. The TLOS to FIAT transaction consumes 51590000 gas with a fee of 0.07667 TLOS, while the FIAT to SOON transaction consumes 51755000 gas with a fee of 0.07689 TLOS. If we add up, we only pay very very cheap fees and even less than $ 1 for both transactions, extraordinary.
Telos Blockchain has managed to enter the world of cryptocurrency by bringing a very good influence to the ecosystem and they continue to grow to this day. Telos Blockchain has run a great project and has bright prospects in the future. With the Telos Blockchain, transactions can be carried out at a higher speed, cheaper transaction fees, lower gas consumption, and can minimize energy consumption. This progress was also followed by the price movement of the TLOS token which recently managed to reach the ATH point and this indicates that TLOS can be considered as an investment asset of course. I strongly support Telos Blockchain! Last word, thank you professor @pelon53 for providing interesting topics and new knowledge for this community.