[Chiliz] || Crypto Academy / S5W5 || Homework Post for @imagen|| By @saarah
Greetings to Everyone
Hope you all are fine and in good health!
Today i am going to participate in the Home Work Task of Season 5 Week 5 Which is "Chiliz" given by the Professor @imagen
I am very excited to attempt this homework task and, I would like to say thanks to Professor @imagen on his remarkable efforts in Crypto Academy.
Question# 1
Describe the Proof-of-Authority (PoA) protocol?
POA commonly known to you as the proof of authority is the consensus mechanism that is currently gaining a lot of popularity lately. It is so because of its better efficiency over the other consensus mechanism. In this consensus an ecosystem of trusted validators is setup which along with the validation nodes validate transactions and hence block.
It is many ways considered similar to the POS but it holds a separate position since it limits the number of validators that can take part in validating the node. This is done to cater to the issue of speed and scalability. When compared to POW it is much different tin terms of less energy consumption and no requirements for strict hardware.
The consensus is so designed that the validators are chosen based on the reputation. The basic conditions seen for a validator is that he should be committed to working for the network for a long term. For many reasons it is considered to be the more advanced version of POS, but mainly because it also involves validators.
In this protocol however the most important thing is their real identity. The validators guarantee their services to the field of blockchain through their real identities. And hence when they want to validate a block they need to do so through their real identities. The method of selection of the validators is strict and the validators also have to stake tokens on the platform. Through they aim to strengthen the network together.
Among the many platforms that are using PoA is polkadot that is ranked 9th in the top 10 cryptocurrencies on coinmarketcap.com.
Question# 2
Who are the partners or sponsors of Socios.com?
For this part of the post go to https://www.scios.com/scios-partners
Here you can see all the partners
Global partner: LaLiga
In addition to the global partner it has various other partners in other fields including:
Football
Gaming
Fighting, Motorsport
Cricket
Basketball
Tennis
American Football
Football:
In case of football the following clubs partner Socios.com
Barcelona, Juventus, PSG, AC Milan, AS Roma, Atletico Madrid, Independiente, Galatasaray, Istanbul Basaksehir, Manchester city, Novara Calcio, Sint-Truidense VV, Trabzonspor, Club Universidad de Chile young boys , Apollon limassol, Legia warsawa, Fortuna Sittard, Goztepe, Alanyaspor, Levante, Argentina national team, Clube Atlético Mineiro, Valencia, Corinthias, Portugal national team, Arsenal, Inter Milan, GNK Dinamo Zagreb, Everton, Leeds villa, Pohang united, Aston villa steelers, Flamengo, Samsunspor, Sao paolo, Racing Club de Avellaneda, bologna, Gazisehir Gaziantep, napoli, new england, santos laguna, atlas, As Monaco, Italy national team, Palmeiras and crystal palace.
Gaming:
In this field Socios.com is partnered by NAVI (Natus Vincere), Team OG and some others.
Fighting:
In the field of gaming, socios.com is partnered with the Professional Fighters League championship and the Ultimate fighting championship.
Motorsport:
####In the field of Motorsport socios.com is partnered by Roush Fenway Racing Team, Aston Martin Cognizant F1 Team, and Alfa Romeo Racing.
Cricket:
In the field of cricket, socios.com is partnered by teams Punjab Kings, Kolkata Knight Riders, Royal Challengers Bangalore, and Caribbean Premier League championships.
Basketball:
In the field of basketball socios.com is partnered by Philadelphia 76ers, Boston Celtics, Cleveland Cavaliers, Sacramento Kings, Orlando Magic, Los Angeles Clippers, Houston Rockets, Chicago Bulls, Minnesota Timberwolves, Detroit Pistons, Golden State Warriors, Washington Wizards, Oklahoma City Thunder, Charlotte Hornets, Miami Heat, San Antonio Spurs, Milwaukee Bucks, Indiana Pacers, Brooklyn Nets, Utah Jazz, Phoenix Suns, Atlanta Hawks, Memphis Grizzlies, and Los Angeles Lakers.
Tennis:
In tennis for now socios.com is partnered with the Davis Cup tennis tournament.
American Football:
The American Football in Socios.com is partnered by New England Patriot club
Ice-hockey:
Ice hockey in Socios.com is partnered by NY Islander, FLorida
Question# 3
Download and install the Socios 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)?
After this happened (as we can see in the above screenshot), I used the VPN. Everything was okay but I did not receive the code to complete the process. Because it is not available in our area or country.
I went to ask professor on his post with comment but I saw there some students already asked the same question so professor advised them to put a screenshot by mentioning the problem.
Question# 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?
The order has been executed from my Binance account.
You can buy or sell an asset on Binance by
Logging in the official app
Then click on the wallet option on the main page
Then click on the spot trading
Then search your coin
Then select any pair with which you want to buy or sell your desired coin in my case USDT
Enter the amount and click buy
CHZ reached an all time high in April on 16th. the ATH for CHZ is 0.77$ as indicated in screenshot above.
Question# 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?
Fan token | Price in CHZ | Price in USD | Growth rate |
FC Barcelona | 30.02 | 7.94$ | +0.97% |
Juventus | 30.97 | 8.19$ | +2.75% |
Paris Saint-Germain | 51.28 | 13.56$ | -0.11% |
You can see a lot of other tokens in the exchange menu
Question# 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.?
In my view the price of the token is affected by the performance of a team and not by winning. The team whose play is the most enthusiastic and there are events that mesmerize the viewers to nail biting gets an increase in the price. This can be understood by analyzing a fan token and the underlying matches. For example, if we see the token such as the Galatasaray when its underlying club met with of the Europa League Group E on December 9, 2021 its price rose a bit and the trend was bullish.
When the match started the trend reversed to bearish and this trend continued until the match ended. Although this was quite surprising as it was a crucial match for the club and since they were playing quite great. Everything thus all comes all to the demand and supply and thus we can say that supply and demand remains the most important factor.
So, to summarize it all we can say even if the club won the match its price did not rise.
Conclusion:
I was not able to complete the process of the wallet due to the technical issue as it was downloaded but the key was generated. Otherwise I tried to complete the answers accurately. The change in the fan token price was not as I expected as many people believe that the price goes high when a club wins the match and it goes down when they lose. The PoA protocol is very similar to the PoS but the major difference comes in the revealing identity of its validators. The validators reveal their true identity as a guarantee of being truly worthy.
My Transferred History #club5050
