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Greetings everyone,
## <center>Introduction</center>
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This week we have been introduced to the telos blockchain by professor @pelon53, a blockchain technology which he believes has a lot of potential as it is striving to gain recognition among some of the best blockchain types out there.
I must admit that this is actually my fisrt time hearing about this type of blockchain technology and thus I had to make a lot of research whilles doing my homework task.
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Now I will make submission to the professors assignment task.
# 1.What is your opinion about Telos Blockchain? What do you hope will happen to the Tlos token? Justify your answer.
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[S](https://bitcoinworld.co.in/telos-partners-with-open-source-tech-to-collect-weather-data-in-public-blockchain/)
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The telos blockchain is a blockchain technology.
What we know about blockchain is that it is a technology that stores data in the blockchain.
The telos blockchain technology is a third generational blockchain.
The telos blockchain was originally created to cater for how fast a transcation is performed and the scalability of the blockchain.
The transaction part being that the time it will take for a transaction to be performed is faster and more efficient.
The telos blockchain is highly scalable, it is able to serve thousands of users in a mater of seconds.
This feature makes it very efficient and more applicable than other blockchain projects.
These blockchain technology was brought into existence in the late 2018 in the month of December.
The telos blockchain is a unique blockchain, when it was launched as with most blockchains
when they were introduced they was initial coing offerings but with the telos blockchain there were no initial coin offerings and thus all users or participants are equal in this blockchain.
The telos blockchain works on the EOSIO and the telos EVM.
It requires a delegated proof-of-stake.
It requires the working together of validators to make sure that transactions are carried out successfully in the blockchain.
The blockchain rewards user who stake tokens on their blockchain.
**The TLOS token**.
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This is the currency which runs on the telos blockchain.
The telos blockchain is working out of its way to have on the greatest blockchain technologies even though I think they are still a long way from getting there but they are on the right path.
The current price of the token is not at one dollar yet but with the rumours of the blockchain launching its EMV to the main net its just a matter of time in my opinion that the price of the token will cross the 1 dollar mark.
When they are able to launch this it will mean that the blockchain will be the first and only blockchain to have the EOS and EVM support.
I believe the token has great potential in the coming years as it is gaining popularity little by little.
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According to coin marketcap the price of the telos token is at $0.855.
It is currently ranked at number 265 on coin marketcap.
It has a market capitalization of $232.334,019.
A diluted market capitalization of $301,824,457 .
A market 270,123,443.84 TLOS.
With the above listed statistics of the token and as at the time of taking the information for coin market cap I realized that the token was rising between 0.86 and falling shortly to 0.85.
Just yesterday it was a little over 0.76 and today it has risen steadily to 0.85.
The tlos token is showing a great potential and it will surely break the 1dollar mark in a matter of time.
# 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.
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To get the irreversible block, I visited the [telestracker](https://telostracker.io/monitor) site On Google.
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Upon visit, the latest irreversible block was **173785495**.
I then copied and pasted it in the search area.
After I pasted the number in the search box and pressed enter a page opened to show me the details I am looking for.
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Upon visit of the page, the details are as follows:
Block producer:**kainosblkpro**
Timestamp:**2021-09-16T14:56:05.500**
Signature:**SIG_K1_KdnpjV6ZPeZyhi3QwjdtcAv7n6wwh93hbdibWUxzxeAVEjeKojppxcW87xzcBHUDxt28J58q3y8wSkfy2SaLagE9FiWncw**
# 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.
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For this particular task I will using three block explorers namely
* [telostracker](https://telostracker.io/monitor)
* [telosblok](https://telos.bloks.io/)
* [telos eosx](https://telos.eosx.io/)
**1. Telostracker**.
Verifying block 15,007,389
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The block producer is **octagonteles**.
The timestamp is **2019-03-10T1:56:52.500**
**Verifying block 171,790,000**.
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The producer is **teleskitchen**.
The timestamp is **2021-09-05T01:30:15.000**
**2. Telosblok**
**Verifying block 15,007,389**.
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This particular block was not found.
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**Verifying block 171,790,00**
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The producer is **teloskitchen**
The timestamp is **sep-05-2021,01:30:15Am GMT**.
**3 telos EOSX**
**Verifying block 15,007,389**
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The of 15,007,389 reported as **operation failed**.
**Verifying block 171,790,000**
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The producer is **teloskitchen**
The timestamp is **2021-Sep-05, 01:30:15**
# 4.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?
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For this part I will be visiting the Telos Demo site.
After opening the site On Google click on connect wallet.
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Then I chose metamask.
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Then I connected my wallet by logging in.
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I then connected my metamask as seen below.
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Am connected now
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After the connection we will now proceed to exchange.
Now click on test demo swap now .
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**Swapping telos/ fiat**
On the exchange, i selected the telos token and fiat token to be swapped.
The amount am supposed to swap is 20 telos.
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Then I clicked in swap and proceeded ro click on confirm swap to finalise the swap.
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Then metamask opened for me to confirm transaction.
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Transaction submitted
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The gas fee for this transaction is 0.10318.
**Swapping fiat token for soon token**
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Now I will just select the fiat token and soon token.
The swap amount is 100,000 fiat.
Before proceeding I have to enable fiat by clicking on enable fiat.
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To enable I have to confirm from my metamask wallet.
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The gas fee for this is 0.10296.
Now that my fiat is approved I will continue with my swap.
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Then after clicking on swap I confirmed the swap.
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After clicking on confirm swap I had to confirm it on metamask too.
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Transaction submitted
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The gas fee is 0.10351 those
In both cases of the transaction, the gas fees charged were very small as transactions fees on the telos blockchain is very cheap.
## <center>Conclusion</center>
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I must say since this is my first time encountering the telos blockchain there was a lot to learn and to pick up whiles doing the assignment task.
Especially in the area of setting up the telos account and swapping the telos for fiat and also the fiat for soon.
It made me realize that generally fees on the telos blockchain Is very cheap as compared to that of other blockchain.
The telos blockchain is trying it's possible best to be one of the best in the game and I I sure one day it might even be the best in the game.
It has been an exciting lesson as always and I will like to thank the professor for bring this on board.
Thank you.
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