Telos Blockchain - Crypto Academy / S4W2 - Homework Post for Professor @pelon53.
You are very much welcome to my homework post that was given by professor @pelon53 on the topic; Telos Blockchain.
1- What is your opinion about Telos Blockchain? What do you hope will happen to the Tlos token? Justify your answer.
Before I start by giving my opinion about Telos Blockchain, let me first discuss about Telos Blockchain. Telos Blockchain is one of the active blockchain network with high capacity in the whole blockchain network. Telos Blockchain is seen as one of the third generation blockchain that make uses of the advantage of Bitcoin and Ethereum blockchain to provide a features and smart contracts that can fully meet the needs of users. Currently, Telos blockchain is the only blockchain with mass adoption, that operate as an open finance network manage by a community of visionary trailblazers who decide the extent at which DApps can be created on its platforms, to give users the experience.
A well known software company that is best in the development of EOS.IO which s called Block.one developed the Telos blockchain network. And it was also the software company that make it's easier for Telos blockchain to be the third generation blockchain. The company make it possible after supplying multiple features such as; smart contracts, security, decentralized application, make creating awareness for Telos to be adopted and many more which EOS.IO did through the used of (DPoS) Delegated Proof of Stake and EVM. Now let's look at my opinion about Telos blockchain below.
My opinion about Telos blockchain
My opinion about the Telos blockchain is that there is a very high tendencies for Telos blockchain to be more than that of Bitcoin and Ethereum blockchain with the different features and smart contracts support that EOS.IO has provide to the blockchain.
Justifications to my Opinion
When we talk about Telos blockchain we are talking about speed and scalability of the blockchain that focused on real world use and adoption.Telos blockchain is created for fast and scalability which has make it one of the mainstream for adoption and smart contracts. Talking about this, Telos has the potential of growing very fast looking at the current price of Tlos token and it market ranking in Coinmarketcap. The price of Tlos as at when performing this task is $0.827201 USD with a market ranking of #267 and a market capitalization of $223,446,437 USD.
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Screenshot from Coinmarketcap
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.
Irreversible Block
Screenshot from Telos Tracker Block Explore
In other for me to take a screenshot of the last irreversible block, i simply go to Telos Tracker Block Explore, and as at the time of writing this post, the last irreversible block is 174085855 which eostribeprod is the Block producer.
The Block producer eostribeprod has a total of 146,772.8931 TLOS with also 119905.4000 TLOS tokens that is staked on the Telos blockchain network.
Screenshot from Telos Tracker Block Explore
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
No1: Telos Tracker
For Block: 15007389
Screenshot from Telos tracker
As I check to verify the block 3 explorers octagontelos is the block producer of the block number 15007389 and the block Date : 2019-03-10-T17:5:52.500.
For Block: 171790000
Screenshot from Telos tracker
As for the block number 171790000 the block producer is teloskitchen with a block Date : 2021-09-05T01:30:15.000.
No2: Telos EOSX
For Block: 15007389
Screenshot from Telos Eosx
For Block 15007389 I visit Telos EOSX and I pasted the block in the search bar and I got the response as; "Operation has failed and try again or report a bug."
As for block: 171790000 the block producer is teloskitchen
Screenshot from Telos Eosx
No3: Telos Bloks
For Block 15007389
Screenshot from Telos Bloks
For Block 15007389 the account name was invalid.
Screenshot from Telos Bloks
For Block 171790000
Screenshot from Telos Bloks
The block producer is teloskitchen
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?
In other for me to perform this transaction so I can determine the gas that is consumed. I make used of the step below:
Step 1: I visit Telos Swap Demo and I clicked on connect wallet.
* Screenshot from Telos Swap Demo*
Step 2: I then select Metamask to connect it to the wallet
Screenshot from Telos Swap Demo
Step 3: I clicked on confirm Metamask account, after which I click on Next.
Screenshot from Telos Swap Demo
Step 4: At this point my wallet became connected to Metamask.
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Screenshot from Telos Swap Demo
- After the became connected I click on Get Testnet EVM telos.
Screenshot from Telos Swap Demo
Demo Swapping of 20 TLOS to FIAT
- After my wallet was connected suçcessfully, I then click on Test Demo Swap.
Screenshot from Telos Swap Demo
- At the swap section, Tlos was the default pair which is at the top and at the pair below I select FIAT
Screenshot from Telos Swap Demo
- I enter 20 in the Tols section and at the FIAT section I got 7073990 FIAT.
Screenshot from Telos Swap Demo
- I the click on Swap.
Screenshot from Telos Swap Demo
- At the pop up window that appear I click on Confirm Swap.
Screenshot from Telos Swap Demo
- As soon as I clicked on confirm swap, a pop up window appear again for me to confirm the transaction. I then clicked confirm, and the transaction became successful. The gas fee consumed for this swap is 0.10329 Tlos.
EVM Transaction scan
Swapping of 100000 FIAT to Soon
For swapping of 100000 FIAT to Soon I use the following procedures below:
- I clicked on Test Demo Swap.
Screenshot from Telos Swap Demo
- I clicked on enable FIAT before I then confirm
Screenshot from Telos Swap Demo
- At the swap section, I select FIAT as the top pairs and the below pair I select Soon.
Screenshot from Telos Swap Demo
- I enter 100000 in the FIAT section and got 1.97363 SOON.
Screenshot from Telos Swap Demo
- I then click on Confirm. And a pop up window appear
Screenshot from Telos Swap Demo
- As soon as I clicked on confirm swap, Metamask wallet then requested me to confirm the transaction and I clicked on Confirmed, and the transaction became suçcessful. The gas fee consumed for this swap is 0.10329 TLOS.
EVM Transaction scan
Details of Gas Fee Consumed for Both Swapped
| Details | 20 TLOS to FIAT | 100000 FIAT to TLOS |
|---|---|---|
| Amount Swapped | 20 TLOS | 100000 FIAT |
| Gas fee consumed | 0.10329 Tlos. | 0.10329 Tlos |
| Amount cut | 20.10296 Tlos | 0.10329 Tlos |
The both swap has a relative low gas fee that is not up to $1 dollars which means that Telos blockchain has a very low transactions.
Conclusion;
The aim of Telos blockchain is to bring different blockchain network together so they can benefits as a foundation of universal blockchain network. My gratitude in this homework post, go to professor @pelon53 for the wonderful lesson he has presented.....
Thank you so much for your little time here..
Best Regards;
Cc:-
@pelon53