Chiliz - Crypto Academy S5W5 - Homework Post for @imagen

QUESTION 1:

ANSWER 1:

The proof of authority consensus method/algorithm is that in which many blockchain actors in the Blockchain ecosystem are provided with the ability to validate the transactions and they can approve whether new blocks will get added to the blockchain or not. The proof of authority consensus method/algorithm leverages the value of identity, which basically signifies that there's no need for the validators to stake coins but their own reputation instead.

This proof of authority consensus method depends on a number of block validators due to which it is a highly scalable system, In this system the transactions and blocks are validated by the pre-approved participants and these pre-approved participants act as moderators, although we should keep in mind that this may be the reason to lead the system to fail if the node is corrupted or compromised.

This System of Proof of authority is not favorable for the public blockchain because it may promote monopoly among the few powerful actors who validate the transactions and new blocks, but this consensus method allows companies to keep their privacy while using the benefits of that blockchain technology.

QUESTION 2:

ANSWER 2:

Currently if we check the partners section of the Socios website we can see these are categorized in between 9 sub categories and there are total 101 partners listen on the website.

• Football
• Gaming
• Fighting
• Motor Sport
• Cricket
• Basket Ball
• Tennis
• American Football
• Ice Hockey

^{Football Partners}

^{Gaming Partners}

^{Fighting Partners}

^{Motorsport Partners}

^{Cricket Partners}

^{Basketball Partners}

^{Tennis Partners}

^{American Football Partners}

^{Ice hockey Partners}

QUESTION 3:

ANSWER 3:

Let's begin with the downloading of the Socios.com android application for this we need to open google play store and then search for the application called "Socios.com - Be More Than A Fan", once we search we can find the application as shown in the screenshot below and to install we need to click the install button and we must agree to the permission asked by the application and once it get install the open application button will be accessible to us.

Once we open the application it will load and after we get logged in we will be asked for our mobile number and then we are required to verify our mobile number via OTP, after successful mobile number verification we are required to enter a unique username and and a email address, once we fill the given fields we need to click the Register Now button in order to proceed further.

Once our registration is done we will be shown the tour/introduction of the application, which first shows that we can add $CHZ token to our account in order to exchange it with any other fan token, In the Step 2 of introduction we will be shown intro to the market tab where we can trade our fan tokens, In the Step 3 we can vote according to the Fan token we hold, In the Step 4 we will be shown the intro to the prediction of matches and we can compete other users of the application.

Once we are done with the introduction to the application we will get landed to the home screen of the application and if we see at the top menu bar we can see four options which we are going to discuss step by step.

• $CHZ: Using this tab we can buy CHZ with our real world currency and then this CHZ token can be used to purchase Fan token using the Market tab which we are going to discuss below.

• Market: Here we can exchange our token with various fan tokens in exchange of CHZ token.

• Vote: Here we can vote our teams and can vote according to the Fan tokens we hold.

• Predict: Here we can use our sports knowledge and predict the score of the teams and climb up the leaderboard.

In the bottom menu bar we can see many options as we have already explored the home tab now let's proceed further

• Wallet : In wallet we can see our owned tokens and their value in EUR as well as CHZ and currently as the screenshot shows we can see I own 1 SSU token.

• Feed : In the fees section we can read news feed by the socios team which mostly are related to Fan Tokens and Sports.

Rewards: In the reward section again we got 3 sub section that are Badges, leaderboard and Fan Reward, we will discuss these below:

• Badges: In the badges section we will be given badges for the achievement we complete.

• Leaderboards: Here we can see the predictions scoreboard in which we have participated.

• Fan Rewards: Here we can collect rewards for the Fan Token we hold.

QUESTION 4:

ANSWER 4:

For the purchase of CHZ token I am using my binance account as I already own around $38 worth of USDT

Go to the market tab and click spot trading and search for the CHZ and all the spot market trading pairs available for token CHZ will appear, As we are trading for USDT so we will choose the pair CHZ/USDT.

Once we click the trade button we will get redirected to the spot market of pair CHZ/USDT, now we will place the order using the orders limit order type we will enter the price at which we want to buy the asset and total amount of USDT we want to exchange and then click the BUY button.

Once our Limit order get full filled we can see it's details in the order history section.

After successful execution of the orders we can see that our asset will get reflected in wallet section.

QUESTION 5:

ANSWER 5:

^{Price Screenshot taken from Chiliz Exchange}

So according to current time the price of the Following token are as follows:

• FC Barcelona(BAR): 29.35 CHZ = $8.51

• Juventus(JUV): 29.58 CHZ = $8.57

• Paris Saint-Germain(PSG): 50.13 CHZ = $14.53

QUESTION 6:

ANSWER 6:

As we are answering something that doesn't have a point to point answer this question need us to do case study so, here we are referring to two of the previous matches.

• 14 December 2021 Manchester City F.C. Vs Leeds United

In this match Manchester City defeat Leeds United but the price of the token doesn't rise and it moves sideways.

• 15 December 2021 Arsenal Vs West Ham

In this match Arsenal Vs West Ham and the price rise slightly but not very much.

So from this two cases we can conclude that the winning of the team affect it's price but not that significantly.

While doing research for this homework post i learnt about many new terms and platform:

• Proof of authority consensus method includes blockchain validators who validate transaction and blocks instead of miners.

• We explored Socios.com which is a platform specially designed for fan tokens built for their native teams, and we explored whole application.

• We did the case study when a team wins or loose the price of the native asset of that team doesn't affect significantly.