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

Hello Steemit Crypto Academy,

Professor @pelon53 handled the essential homework topics of this week. I will try to explain the questions in the homework in detail. Thank you, Professor, for working on this issue. I learned a lot of new information.

Source: Canva

Introduction

Being a user of blockchain technology makes me very happy. Before Steemit, I used to only read and post on my blog. But now, it is a wonderful experience to be involved in this system with my efforts.

I had a lot of fun doing the Telos Blockchain homework. Because I learned a lot of things while doing this assignment. It was complicated when I started doing the homework, but I kept doing research and started learning. I have been wondering about the Metamask wallet ever since I started doing the Steemit Crypto Academy assignments. However, I did not download this wallet before this assignment and did not know how to use it. Thanks to this assignment, I actively used the Metamask wallet, and even for this, I thank the dear Professor for choosing this topic.

Before this assignment, I had no idea about Telos Blockchain. I have read many articles and perused Telos' website to answer each question. After Bitcoin entered the market, some shortcomings were noticed in the system. It is a bit of great luck for us that the founders of Telos realized the place of these gaps. This third-generation blockchain ensures that transactions are free or low-cost. It is also a platform for everyone to build fast and scalable applications.

As the Professor stated in his post, Telos is a decentralized technology that eliminates intermediaries. Speed is essential in our age and it is an important step that this platform offers the opportunity to make our transactions quickly and safely. In this sense, I think Telos Blockchain will do a successful business soon. Finally, I would like to thank Professor @pelon53 for choosing this topic.

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

Before this homework I have no idea about Telos. For that reason, I read several articles and searched its website. According to my research topic, I try to write about Telos Blockchain. Telos is a blockchain produced by Block One. It has a public technological infrastructure running on EOSIO software. Unlike EOSIO software, it uses a modified genesis block where initial account balances are fairly distributed.

Figure 1. Homepage of Telos

Source: Telos

After the launch of Bitcoin, many new systems were needed accordingly. One of them was the "Ethereum Virtual Machine". A group that wanted to improve the features of the blockchain set up this decentralized virtual machine.
As the price of Ethereum increased, so did the number of users of this system, but the plan was not ready for it. In such a situation, Dan Larimer showed his strength. In early 2017, with experience in scaling solutions, Dan (Bitshares and Steem) wrote a white paper describing a decentralized virtual machine based on Delegated Proof of Stake (DPOS).

EOSIO software was released to the public on June 1, 2018, and the developers launched Telos. Telos was established to make the most of the Delegated Proof of Stake (DPOS) mechanism. The group that developed Telos operates in many countries. Telos has many offices in Africa, Asia, Europe, North and South America. This group has multiple workspaces. Among them; coding, development, security, hardware, public relations, and marketing.
As we know, the symbol of the Telos blockchain is Tlos. At the time of preparing this assignment, Tlos was valued at $0.7895 on CoinMarketCap. Also, Telos' Market Capitalization value was hovering at $215,051,334.

Figure 2. Tlos Price from CoinMarketCap

Source: CoinMarketCap

Let's also take a look at the markets where Telos is located in terms of volume value. The market with the highest volume of Telos is “KuCoin”. After that comes Gate.io, PancakeSwap and Uniswap.

Figure 3. Telos Markets

Source: CoinMarketCap

In addition, when I click on the "Buy" tab on the home page of Telos, it offers the option of the first 4 markets I mentioned above.

Figure 4. Telos Markets of Homepage

Source: Telos

We can see the plans for 2021 on Telos' roadmap. Telos will continue to develop better tools and interfaces this year. Telos' new projects include; Telos Wallet easy-to-use web wallet, Decide Voter mobile voting app, dStor decentralized storage to expand the functionality of Decide governance, and smart contract bridges.

Figure 5. Roadmap of Telos

Source: Telos Blockchain

After giving information about the market value of Telos, now I want to say what I think about the future of Telos. As I mentioned above, after Bitcoin entered the market, users noticed deficiencies in the system. New features have been developed to address these shortcomings, one of which is Telos.

Telos describes itself as a third-generation blockchain platform. It seems that it meets this with the possibilities it offers.

Why was Telos needed? Because the economic markets of the future will need such systems. Telos was developed to power the economies of the future and provide human-scale solutions to global challenges. Collaborations between individuals and companies will gain importance in the future. Considering these goals, individuals and institutions will want to impact decision-making processes in a more collaborative and transparent environment. For this, Telos aims to provide the necessary solutions. I think Telos will achieve good things soon.

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.

To answer this question, I first logged into the TelosTracker page. The main page contained the following information. When I prepared this assignment, block 173443551 was produced.

Block Producer: teleologytls
Block Number: 173443551
Block Date: 14 September 2021, 18:26 (Turkey Time)

Source: TelosTrecker (achieved 14.09.2021)

Let's look at the details of the block generated by teleologytls. When I clicked on the “Last Procuder” tab, the following page was opened. When I click on the "Producers" section on the left, it shows some information about producers.

Source: TelosTracker

When I click on the Producer tab, the following page opens. On this page, we can have information about the rankings, locations and websites of the manufacturers. The rank of teleologytls is 8 and its location is Australia.

Source: TelosTracker

However, when I called block number 173443551 on EOSX, I came across a different producer. I couldn't understand why the producer output is different here. Let's look at the details:

Block Number: 173,443,551
Producer: eostribeprod
Timestamp: 2021-Sep-14, 18:26:05
Block ID: 0a5689df6fe926e2f61a8d71088bf99aee925170406911441f54342fba6b81fc

Source: Telos EOSX

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.

I will search the blocks you have mentioned from three different sites. These are Telos Bloks, Telos EOSX and Telos Tracker.

-For 15,007,389

First, let's start the search for 15,007,389. For this, let's first look at the Telos Bloks page. When I entered Telos Bloks website, the following screen appeared.

Source: Telos Bloks

I wrote the first block number that you specified in the search section. On the screen that opens, it is stated that there is no account for this block number.

Source: Telos Bloks

Now let's look at the latest status of block 15,007,389 in the other two accounts. Let's take a look at Telos EOSX first. When I typed the block number in the search section of this place, I could not find any results.

Source: EOSX

Now let's explore block 15,007,389 from the Telos Tracker page. Yes, I was able to find some results here. Let's look at the details:

Block Number: 115,007,389 (also Block ID is same number)
Producer: octagontelos
Timestamp: 2019-03-10T17:56:52.500
Producer Signatııre:
SIG_K1_KYzHeBvtcoMQQXf6LNyZzNQghw5mjtkRMmpmeswRCCr9TRgXThLa9pMjG4z59rMrJGx4D84RCupeBosA4L6ka6Fr9Rt2M1

Source: Telos Tracker

-For 171,790,000

Now it's time to search for the second block you mentioned. Let's explore block 171,790,000 on Telos Bloks first. When I typed the block number in the search box, the following page was opened. Details:

Block Number: 171790000
Producer: teloskitchen
Timestamp: Sep-05-2021, 04:30:15 AM G00
Block ID: 0a3d4eb028bdf79864d0774636fa986847d4a58bf569491d2e62f88591262623

Source: Telos Bloks

Time to try block 171,790,000 on the EOSX system. Here, I encountered the same results as above. I didn't feel the need to reiterate the details.

Source: EOSX

Finally, let's search block number 171,790,000 in the Telos Tracker system. Yes, this result also surprised us and gave the same result as above.

Source: Telos Tracker

As a result, I searched both block numbers from three explorers. We saw that the first block was produced in 2019, and the second block was produced in 2021. However, I only came across the information for the first block in the Telos Tracker browser. I am wondering if the 15,007,389 block is not giving results in the other two explorers.

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?

To answer this question, I first downloaded the Metamask wallet. I do not need to explain the details of this process.

First, I logged into the telos page.

I clicked on the “Connect Wallet” tab in the upper right corner. I have my Metamask wallet on the page that opens, and I clicked on this wallet.

I clicked on Metamask and it asked me for a password.

After entering my password, I provided the connection. My Metamask wallet is integrated into Telos.

In this step, I clicked on the "Get Testnet EVM TLOS" tab. I received notification that Testnet EVM TLOS was successful. Finally, I clicked on the “Test DemoSwap now” tab.

My "demoSwap" test was successful.

"Transfer 20 Tlos to Fiat."

Now I will perform the operations you want in order. First, I chose the FIAT token. You can see it below.

Source: Telos

Now I will transfer 20 Tlos to Fiat. I have to click on the "Swap" tab for the transfer to take place.

Source: Telos

A new window popped up for me to confirm the Swap. I clicked on the “Confirm Swap” tab.

After performing the above operation, I completed my transaction. My 20 TLOS was transferred to Fiat (8122140).

"Make the 100,000 Fiat to Soon transaction and determine the gas consumed."

I wrote 100 units Fiat in the From part to transfer from Fiat to Soon. I wrote *Soon” in the To part. Then I clicked the Enable FIAT tab.

After clicking the Enable FIAT tab, the following screen opened. I got a notification from Metamask that I need to approve. The gas fee is 0.10307.

And my transfer from FIAT to SOON took place.

I continue processing. Now let's click on Swap.

After clicking Swap, the following page was opened that I had to confirm.

Finally, the system asked for approval from Metamask. The gas fee was 0.10362.

I did a long and instructive process. First, step by step, I transferred from Tlos to Fiat. Then I transferred from Fiat to Soon. I used the Metamask wallet for this.

Conclusion

As with every homework, I learned many new things about Blockchain technology while doing this assignment. As I mentioned above, I researched Telos Blockchain for the first time. It is detailed that Telos, which is decentralized and eliminates intermediaries, can do more than that.

The motto on its homepage is: “Fast, Scalable, Decentralised Finance is here with Telos”. Telos Blockchain opens the doors of both speed, scaling and a decentralized financial system. The chart below shows the position of Tlos, the symbol of this platform, in the crypto market.

Figure 6. Telos position in the Crypto Market

Source: Telos Blockchain

According to their information: “Telos is the 2nd most utilised blockchain in the world”. That is the big success for Telos Blockchain. In addition, new projects are mentioned in the roadmap for 2021. Their five key projects; dStor™, Telos EVM, Telos Private, Telos Location and Telos ID. We will soon see how these projects will offer solutions to users.
Last but not least, I want to thank you, dear Professor @pelon53 for this informative homework subject.

CC:
@pelon53