Telos Blockchain I Crypto Academy / S4W2 - Homework post for pelon53 I ahmadchemist737
Hello Everyone. This week, the professor @pelon have taught us the another amazing blockchain known as the Telos. I will try explore this Blockchain in a clear way in each question. Let's start the homework task..png)
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What is your opinion about Telos Blockchain? What do you hope will happen to the Telos token? Justify your answer.
We have familiar with the blockchain technology. This technology was introduced to the world to make the transaction process fast and easy for the people. Multiple blockchains are there now with different features. Each new blockchain is a advanced version of previous and fulfill all its limitation.
There was a time when the people face multiple problems while performing the transaction. The speed of the blockchain was slow. Due to the low scalability, the people faced problem in transferring there amount. To solve this problem, a new blockchain named as Telos was introduced in 2018. This blockchain enhanced the speed and scalability of the blockchaik.
Telos is also a blockchain which make the transaction process more fast. It was funded to solve the scalability issues which were there in the previous blockchains. The Telos made the transaction process fast and make it more reliable for the people. Now the people can transfer there funds easily and fastly with help of Telos.
The DPoS algorithm is used in Telos to maintain all the features of the telos. These features may include the decentralization, speed, scalability, low cost and many more. These features are managed by the EOSIO using the Delegate proof of stake algorithm .
The telos is so fast that 2 blocks are created in each second. This blockchain can perform more than 10000 transactions in one second. This blockchain run on the technology which is known as EOSIO C++.
Ethereum Virtual Machine
The Telos is not just fast but also cheap. The transaction fee is not so much high and people have not to pay much to transfer there funds. The EVM has been tested successfully in Telos. This has bring the easiness in developers life as they can now run the Eth based DAPP on this more fast and more scalable blockchain with low cost.
Comparison of Telos, Ethereum and ADA blockchain
The following is the comparison between the telos and other blockchains. This comparison will help you to get that the Telos is much better and less costly as compare to the other blockchains. This blockchain is super fast and can perform more than 10000 transactions per second. @ blocks are created in this blockchain in one second which make this blockchain more advanced as compare to others.
| Blockchains | Speed | Cost | Availability | Block creation time |
|---|---|---|---|---|
| Telos | More than 10,000 per second | No transaction fee | Officiality Available | 0.5 second |
| Ethereum | More than 100 transactions in one second | 0.006$ | Officially available | 10-19 second |
| ADA | About 7200 per second | Average transaction fee is 0.16-0.17 | Officially available | Take more time than telos |
TLOS
Telos is a blockchain which make the transaction process so fast and provide more scalability. This blockchain is getting popularity among the people day by day in a fast way. The features like, high scalability, speed, block creation time make it supreme from other blockchains.
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TLOS is the native token of the Telos blockchain which also getting popularity rapidly. The market capitalization of this coin in the market is 221,824,904$. The market rank of TLOS is 265 and the market price is 0.8212 .
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This coin is available on multiple exchanges in which the top are KuCoin, Gate.io, Uniswap, Panncakeswap and many more.
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Key points
Decentralized: The blockchain nature is decentralized. No third party is included. The blockchain is transparent and immutable
Security: The decentralized nature of the blockchain make it more secure. The hackers cannot hack the blockchain.
Speed: The 10000 transactions can perform in one second which is totally outclass.
Block creation time: Each block is created in 0.5 second. Its mean 2 blocks are created in each second.
EOSIO: The EOSIO is here for the maintenance of all the feature of Telos.
DPoS: The delegated proof of stake algorithm is used in Telos.
Q-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.
First visit the Link
Following page will appear.
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Copy the irreversible number and paste it in search bar.
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The whole detail will appear.
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The Block Number is the 174045948
The Block Id is the : 174045848
The Date is 2021-09-18T03:06:59.500
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Q-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.
There are three block explorer in Telos Blockchain.
Elos Bloks
On the Telos Bloks, when i searched for the 15,007,389, i got the error.
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But when i search the 171,790,000, i got all the detail about the block.
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But always enter the value without comma. Otherwise it will generate an error.
Telos EOSX
On the Telos EOSX, when i searched for the 15,007,389, i got the error.
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But when i search the 171,790,000, i got all the detail about the block.
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Telos Tracker
On Telose Tracker, when i enter the 15007389, i got the following page
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When i entered the 171,790,000, i got the all the detail about this block.
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Q-4. On 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 perform the transaction from 100,000 Fiat to Soon, and determine the gas consumed. Show the screenshots of the whole process you executed. In both cases the gas consumption was excessive? Explain?
Visit https://demo.telos.finance
Click on the "CONNECT WALLET"
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Click on the MetaMAsk
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Enter passsword.
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Then click on the Connect Button
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Get Testnet EVM TLOS
Click on Get testnet EVM TLOS
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You will get the following notification on your screen
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You metamask will have 100TOLS now.
Demo swapping of Tlos to FIAT and FIAT to SOON
Click on the Test DemoSwap
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Choose your pair and enter the mount
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You get 7073990 FIAT for 20 TLOS. A pop-up will be there to confirm the transaction. Click on confirm
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After confirming the transaction, you will get a notification that your swapping have done.
Swapping 100000 FIAT to SOON
Select the pair pf fait an SOON.
Then enter the amount
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Now you need to enable the Fiat. A window of metamask wil appear on your screen. click on the confirm option to confirm the enable FIAT option. You have to pay some fee for this process. A confirmation message will be appeared on your screen
After that click on the swap option. For enabling the FIAT and For Swapping it, it take gas fee in both process. After swapping, you will get the a notification for confirming your transaction.
For swapping, you have to pay the GASS fee which is 0.1035For Enabling the FITA, you had to pay the 0.1029.
Conclusion
In this lecture, i have learned about the Telos blockchain. This blockchain is super fast and more scalable. In enhance the scalability and user can perform the transaction most fastly with low transaction fee or free. It is advanced version and is known as blockchain for third generation.
I am thankful to the professor @pelon53 for this amazing lecture.