Telos Blockchain - Crypto Academy / S4W2 - Homework post for pelon53.
Q1:-What is your opinion on Telos Blockchain? What do you hope will happen to the Tlos token? Justify your answer.
According to my opinion, telos is going to dominate the future economy for the following reasons:
Telos is the second most utilised Blockchain in the last two years being able to involve so many users in just three years is not an easy task and would not have been possible for a network with subordinate vision.
Privacy and scalability of the telos are the two core features due to which it was able to gather more than nine lakh users registered on the network. Telos can Process more than 10000 transactions per second with the recent collaboration of telos with the ethereum virtual machine. It fosters interoperability and increases the transaction speed to more than 100’s million transactions in 24 hrs, contrary to the current transaction speed of ethereum of 1.7 million transactions in 24 hrs.
The DPOS protocol delegated proof of stake followed by the telos network makes it energy efficient compared to proof of work networks. In Telos, block Validators are chosen based on votes cast by TLOS token holders of the network. Telos select 21 active block validators and many standby validators. Active validators are not permanent and standby validators have a chance to enter into the active list based on the requisite number of votes. As there is no competition for computational power as seen in Bitcoin’s proof of work algorithm there is no energy consumption of energy. Here block validators compete among themselves for solving the complex puzzles to validate the blocks.No new coins are generated during DPOS.
EOSIO is the software on which the Telos network is run. It is 17000 times more energy-efficient than the POW network.
Telos use cases range from finance/gaming platforms, social media platforms as Telos has been able to attract more than 100 companies so far, worth mentioning are ZEPTOGRAM, QUDO etc.
The efficient Governance model of Telos has made it pour billions of developers across the world and has been able to prove its worth as a decentralised and public network...
The current price of Telos token is 0.82$ and rank is 292, with a market capacity of 186,819,097 and a circulating supply of 225,493,532 and a total supply of 335,209,370, keeping these solid parameters of Telos token in view I hope that TLOS token is going to increase in price as well as rank in future.
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 the official website of Telos tracker.
The last irreversible block on the Telos Block Explorer Tracker at the time of exploring was Block 174133601. To look for details of the block, search the same block number and details will be seen. The Block Producer of block 174133601 is kandaweather on 2021/09/18.
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 Tracker
For this task, we have to explore three-block explorers and look for two blocks and they are block 15,007,389 and block 171,790,000.
From the above screenshot, you can see the Block Producer of block 15007389 octagontelos and the block was generated at 17:56:52 on 10/03/2019.
As we can see from the above screenshot, the Block Producer of block 171790000 is teloskitchen and the block was generated at 01:30:15 on 5th September 2021.
Telos EOSX: Block 15007389
Block 171,790,000
The Block Producer of 171,790,000 is teloskitchen and the block was generated on 5th September 2021.
Telos Bloks.
Block 15007389
This block couldn't be found on telos books.
Block 171,790,000
The Block Producer of block 171790000 is teloskitchen and the block was created on 5th September 2021.
Q4:-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 visit the telos swap demo platform. Upon clicking the website https://demo.telos.finance/, you will be carried to the homepage of the platform.
You must have a meta mask wallet because we are going to connect our metamask wallet on this platform. At the top of the homepage, you will see "connect wallet." Click on it.
See, my wallet is connected...
I click on get testnet, they were credited to my demo account.
Once we clicked on the test demo swap, you will be directed to a page where you will begin your transaction. Enter the amount of TLOS, 20TLOS in this case, you want to transfer to FIAT. And make sure "from" is in TLOS. Then, select "to" to be "FIAT," then click on a swap.
Once you click on swap a new page will be shown. On this page, you are going to confirm. Click "confirm."
After clicking on it, a page will be loaded where you will see the details of the transaction. The estimated gas
The estimated gas fee is 0.10307 TLOS.
Transfer of 100 000 FIAT to SOON
To transfer FIAT to SOON, click on the "Test Demo Swap. After clicking on it, you will be taken to a page where you will enter the amount of FIAT you want to transfer.
Firstly, enter the amount of FIAT you want to transfer, (1000 FIAT for a task) which I the box "from." Then, select SOON in the "to" box. Then, click enable.
After clicking on "enable," we will be taken to the side where you can click on "swap. Click on it.
After clicking on "swap", a new page will open, where you will confirm the transaction.
Approve and give access to confirm the ongoing transactions.
After clicking on it, you will see a new interface, where you will see the estimated gas fee and the total amount of tells.
Finally, a transaction receipt will be shown and the transaction will be submitted.
CONCLUSION
Telos blockchain is the web 3.0 decentralised blockchain run on the EOSIO software. It was launched in 2018 but there were no ICO and VC funds to mark its inaugural. It has been able to provide a better alternative to the earlier existing blockchains in terms of scalability and privacy. Although a new network in the crypto sphere but its speciality is emphasised by its potential to stand at second rank as far utilisation of network is concerned.