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

lhorgic (75)Beginner[6,7,10]in SteemitCryptoAcademy • 3 years ago (edited)

Am so glad to be part of this week's lecture delivered professor @pelon53. I enjoyed every bit of the lecture and that is why I decided to participate in the the work task given. Below is my entry.

’what is your opinion about Telos Blockchain? Why do you hope will happen to the TLOS token? Justify your answer.

Telos Blockchain

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Telos blockchain is one of the newest innovation in the blockchain world, it is reffered to as the third generation blockchain governance system and smart contract. It was launched in year 2018(December to be precise ). The drive behind the Telos platform is to;

’power the economies of the future and provide human-scale solutions to global challenges.

This to them is achievable by what they call innovative governance which give organization an edge in decision making and transparency. Telos is also known for it speed of about 10000 transaction within a second and gasless transaction coupled with it high scalability & distributed apps (Dapps). Telos blockchain has it native token which is called the TLOS, this token is used to power the blockchain and also used as a reward system to those who stake their resources on the Telos platform. It’s also important to state that in 2020 they launched their liquidity pool called ‘Telos swap’ which allows token of different types. The algorithm used by Telos is the proof of stake.

My projections about TLOS token.

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Telos has seen a major breakthrough judging from the chart history and the project backing it up is a viable one, the price will keep on increasing beyond leaps and bounds as the kind of service rendered by the platform can be said to be reliable and better than the ones that existed before it, performing gasless on it own is a major attraction for investors. According to my research telos is likely to hit $1.50 - $3.00 as long as the telos team keeps improving on their services which is the selling point. The information from the coinmarketcap below will further expanciate my projection

’Using the telos tracker block explore, take a screenshot of the last irreversible block at the time of performing your task and details the BP and the date.

According to my screenshot which is a proof of my visit to the telos tracker, the last block was 173431563 And “telosgermany” produced it. The number of the producer is 12 on the list . The date and the time of the produced block is and we can also see the time signature in the screenshot.

’Check in the 3 block explorers the blocks :15,007,389 and 171,790,000 show the BP and date of these blocks.
We will explore the blocks one by one so that the process can be easily and very comprehensive. I will like to start with the;

Telos bloks website.

Block 15,007,389

According to the screenshot, there is no information for the block 15007389 I inputed which means it doesn’t exist on the Telos blocks website

Block 171,790,000

According to the screenshot, block 171790000 exist on the telos blok website with the following information.
Producers name : teloskitchen
Time stamp : Sep-05-2021 / 02-30:15AM WAST Block Id: 0a3d4eb028bdf79864d0774636fa986847d4a58bf569491d2e62f88591262623

Telos Tracker website

Block 15,007,389

According to my search on telos tracker, the 15,007,389 block was produced by octagontelos and the date it was produced is 2019-03-10 / 17:56:52 (time) and we can see the signature in my screenshot.

**Block 171,790,000

There is an information for this block in the telos tracker. teloskitchen produced the block and it was produced in 2021-09-05/ 01:30:15.000(time)

Telos Eosx Website

Block 15,007,389
There was no information for this block on the EOXS. So I screenshoted the info I got.

Block 171790000
There was no info for this block and it seen in the screenshot. The information gotten is as follows.

What I got was an error message which I believe could be as a result of one reason or the other

’ in the Telos swap demo platform, connect the wallet to metamask. Then transfer 20 tlos to fiat. And then determine the gas you consumed. Then make 100,000 fiat to soon transaction and determine the gas consumed. Show the screenshot of the whole process that you ran. Was the gas excessive in both cases? Explain?

The first thing to take into consideration before carrying out this task is to ensure you have a metamask wallet of which I already have, I only had to connect it to my telos. The explanation will be show below.

Step 1: I logged into my browser and inputed “metamask.io/download” and got the interphase below

Step 2: I set the download option on “chrome” and then clicked “insatalled metamask for chrome”

Step 3: I cliked add to chrome and then proceeded.

Step 4: Since I already have an existing metamask account, I chose the option “No I already have a secret recovery phrase” and then clicked on “import wallet”

Step 6: I went ahead to input my recovery phrase

Step 7: I agreed to this interface and then proceeded

Step 8: I got a congratulatory message.

Step 9: I immediately checked this process

Process (Phase 2)

Step 1: I logged into the demo telos website.

Step 2: I connected my metamask with the telos demo website using the 'connect' icon

Step 3: I followed the promptings and accepted all that I was asked to accept for a successful transaction

Step 4: It was connected successfully

Process (Phase 3)

Step 1: I clicked on the “Get Testnet Evm TLOS” to receive telos for transaction which was sent to my metamask

Step 2: I click on the “Test DemoSwap Now” so that the 20 TLOS can be transferred to FIAT

Step 3: I inputed 20 TLOS and the equivalent conversion rate of 8625090 for fiat appeared and then proceeded with the transaction by clicking “swap”
(screenshot)
Price per fiat : 0.00000231881
Liquidity provider fee: 0.1496 TLOS
Route: TLOS, CAKE ,LOL , FIAT

Step 4: I confirmed the transaction at this point by clicking “confirm swap”

Step 5: I was brought this interface where I confirmed the transaction from my metamask wallet

Step 6: the transaction was successful as seen in the screenshot below.

Step 7: I also confirmed that the transaction was valid by viewing it from Telos explorer as seen in the screenshot below.

Transfering 100,000 FIAT to SOON.

Step 1: I first enabled my FIAT from the exchange transaction section as seen in my screenshot

Step 2: I confirmed the transaction from my metamask with a fee of $0.08

Step 3: I inputed my 100000 Fiat and the equivalent soon amount surfaced and below it it we can see the transaction fee of 748.3 Fiat and then confirmed

Step 4: I went ahead to confirm the swap

Step 5: I also confirmed the metamask prompting

Step 6: It was a success

Step 7: I also checked the transanction on telos explorer

Conclusion

It was really nice exploring the Telos blockchain,there is no doubt that this blockchain alongside with it native token has a promising future in the crypto world..

Thanks so much for the awesome lecture @pelon53,I hope you find my entry interesting.

Cc: @pelon53

#pelon53-s4week2 #cryptoacademy #nigeria #telos