Chiliz - Steemit Crypto Academy - S5W5 - Homework Post for @imagen
(1.) Describe the Proof-of-Authority (PoA) protocol.
We have been seeing various discussions about PoW and PoS mechanism in the academy for so long. We know that the scalability of Paw is low. As a result PoA mechanism tried to solve the problem. The scalability of PoA is higher than the PoW.
We usually know blockchain Trilemma that there is a problem. That is, security, scalability, decentralization, any two of the three works well, but one does not work well. PoA mechanism is one kind of consensus mechanism which tried to solve the problem of blockchain trilemma. PoS has a problem which is decentralization. But PoA tried to solve the problem.
(2.) Who are the partners or sponsors of Socios.com?
Socious.com is platform where has different types of fan token. As a gaming fan token, there are lot of partner such as football, gaming, fighting, motorsports, cricket, basketball, tennis, american foodball, ice hockey.Let's see their particular club logo.
Let's see step by step
(3.) Download and install the Socios.com application . Create an account. Explore the application and describe its functions. Show Screenshots (If necessary use a VPN if the application is not available in your country or locality).
I first go to the Play Store to install the app and from there the Socias.com app. Let's install the app.
Let's see step by step
(4.) Make a purchase of the CHZ token for a minimum value of 10 USD from your verified account of the exchange of your choice. Describe the process. Indicate the ATH of the coin and when it was reached. Show Screenshots.
Let's see step by step
(5.) Enter the Chiliz Exchange and indicate the prices in CHZ and their equivalent in USD of the following Fan Tokens at the time of writing your assignment: FC Barcelona, Juventus and Paris Saint-Germain. Show Screenshots.
| Name | Price |
|---|---|
| CHZ/BTC | $0.28 |
| BAR/CHZ | $8.83 |
| JUV/CHZ | $8.85 |
(6.) How is the value of a club or team's Fan Token affected before and after playing a match? If the result is a victory, does its value go up? On the contrary, if it suffers a defeat, does its price go down in the market? Reason for your answer and present at least one recent example, preferably in the week between Sunday 12 and Saturday 18 December.
I have chosen a club to answer this question and I will try to answer according to the game of that club. The club is Barcelona and its fan token is BAR. We will consider the winning day of the club to indicate the fluctuation of the price of fan tokens.
Screenshot from tradingview
I did not get any reversal. But sometimes victory and defeat may change the reversal.
The lesson was about the socious.com websites and different crypto fan tokens. The Socious.com website is a shining example of the spread of blockchain technology across different sectors. Through this lesson, we got to know different fan tokens and found out who has partnered here. Another one is we have learned different options of socious app and we created an account.
In this post, I have shown you how to buy CHZ Taken. In this post, I have highlighted the current prices of tokens of different clubs such as Barcelona Juventus, and PSG. All in all, we have learned many important things through this lesson. I want to thank honor Professor @imagen for his beautiful lecture.