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Great friends, it is my pleasure to engage us again today in my blog. I will be attempting a homework task presented by Prof @pelon53 on Telos Blockchain.
>What is your opinion about Telos Blockchain, what do you expect to happen with the Tlos token? Justify your answer.
###### TELOS BLOCKCHAIN
Telos Blockchain is seen as an advancement on the existing blockchain mechanism already in use. The Telos blockchain came into the live stream in December 2018 with a partnership with the EOS where it was seen to use the EOS token sale to reward users vis-a-vis the equivalent native token but capped at 4000 EOS maximum per wallet size. The essence of this smart move is to engineer an equitable initial distribution of its tokens to avoid the hijack of majority stakes by Whales & Institutional Man.
In its initial distribution, the Telos made available 300 million worth of its native tokens to EOS account owners, with 18 million of these tokens allotted to founders of the Telos Chain and 6 million of this token to the Telos foundation. But as at the time of this content, there is over 350 million worth of the Telos native tokens in circulation with a 0% inflationary rate.
The Telos Blockchain which is more or less an advancement on existing blockchain protocols comes with improved scalability that sees that blocks are created for every 0.5secs which entails that two(2) blocks are formed every second with over 1000 transactions per second throughput. The blockchain offers its developers a host of dApps entrance on its protocol which runs on the EOSIO software and a consensus mechanism of Delegated Proof of Stake (DPoS).
TLOS is the native token for the Telos Blockchain also used in acquiring resources from the dApps and for other purposes like voting for its BP (Block Producers), Election arbitrators and other relevant governance activities. It adopts the Ethereum Virtual Machine (EVM) and compatible with the EOSIO. The Telos EVM allows for low cost in the transaction while the EOSIO allows that deployed apps on the EOS blockchain can as well be deployed to the Telos blockchain which enhances easy adoption.
The Telos standing as at the time of this report
**Telos Price: 0.869
Market Dominance: 0.01%
Market Rank: #264
Market Cap: $234,372,341.36**
>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.
##### The Last Irreversible Block & BP Details
(screenshot from telostracker.io)
### The Last Irreversible Block captured as at the time of my post is:
Last Irreversible Block: 173820485
Head Block: 173820813
Last Block Producer: argentinatls
1 TLOS = 0.1697161 EOS
1 TLOS = $0.855815
1 KB RAM = 0.091862 TLOS
(screenshot from telostracker.io)
### The Block producer (BP) has the following details also:
Last Block Producer: argentinatls
BP Unstaked Token: 57569.4592 TLOS
BP STAKED TOKENS: 107.0000 TLOS
MEMORY USAGE: 71.46% (6.02KB/8.20KB)
BANDWIDTH USAGE: 0.47 KB/ 0.28 GB = 7.00 TLOS
CPU USAGE: 1.76 MS/ 0.15hr = 100.00 TLOS
>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.
##### The three (3) block explorers to be used in 15,007,389 & 171,790,000 verification are:
- Telos Bloks (https://telos.bloks.io/chain)
- Telos EOSX (https://telos.eosx.io/)
- Telos Tracker (https://telostracker.io)
#### Telos Bloks
a. **To Verify 15,007,389**
***Feedback: Telos account name Invalid***
b. **To Verify 171,790,000**
***Block Producer: teloskitchen***
***Time/Date: Sep-05-2021, 02:30:15 AM WAST***
#### Telos EOSX
a. **To Verify 15,007,389**
***Feedback: Operation failed. An invalid transaction/Block ID***
b. **To Verify 171,790,000**
Block Producer: teloskitchen
Date/Time: 2021 Sept-05, 02:30:15
#### Telos Tracker
a. **To Verify 15,007,389**
(screenshot:https://telostracker.io)
Block Producer: octagontelos
Date/Time: 2019-03-10 T17:56:52.500
b. **To Verify 171,790,000**
(screenshot:https://telostracker.io)
Block Producer: teloskitchen
Date/Time: 2021-09-05 T01:30:15.000
>On the Telos swap demo platform [click here](https://demo.telos.finance/). 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?
###### Connecting the MetaMask Wallet
- Login via https://demo.telos.finance
- Click on the "**CONNECT WALLET**"
- Click on the MetaMAsk
- From the MetaMask Extension, click on the metamask icon
- Then click on the Connect Button
- Continue from the Demo site and click on "**GET TESTNET EVM TLOS**" to release demo tokens
- A confirmation message would be sent to confirm the message
- Click on the **Trade** option and then on the **Exchange** sub-option
### SWAPPING 20 TLOS TO FIAT
I will be selecting 20 TLOS from the options as well as selecting FIAT currency from the second option area as indicated in the screenshot. Then click on the **SWAP** button and then **CONFIRM SWAP**
##### Details of a Swap deal
TLOS Amount - 20
FIAT Received - 7107470
Price of Token/FIAT - 355371 FIAT/TLOS
Price Impact - 0.01%
Liquidity Provider Fee (Gas Fees) - 0.05 TLOS
Total Gas fees after approval - 0.023989 TLOS
### SWAPPING 100000 FIAT TO SOON TOKEN
From the options, enter the FIAT value needed for this transaction (100000) and also select the SOON token in the other option. Bu after entering and selecting these values, the **SWAP** button isn't highlighted we will have to click on the **ENABLE FIAT** button to get the process ready.
From the swap process, 121549 TLOS is required to activate this button and $0.09 or 0.10285 TLOS required on the approval section (MetaMask wallet). Therefore, click on the ENABLE FIAT to get it done. Then click on the **SWAP** button and then on **Confirm SWAP**
##### Details of a Swap deal
FIAT amount - 100000
SOON Received - 0.821649
Price of SOON/FIAT - 0.00000821649 SOON/FIAT
Price Impact - 0.01%
Liquidity Provider Fee (Gas fee) - 748.126 FIAT
Approval fee from Metamask Wallet - 0.1035 TLOS
Total **GAS FEE** Charged - 0.024431 TLOS
### Gas Fees Analysis for both Swap
The Gas fees captured for both transactions were very low vis-a-vis what would have been obtainable in an Ethereum Blockchain. Just as earlier discussed in lessons and my post, the Telos Blockchain is an advancement on the existing blockchain which has its benefits from scalability and reduced cost of transactions as key features. This is seen from its compatibility with the EOS and Telos-EVM partnership.
**THANK YOU**
Cc: Prof @pelon53
***Written by @xkool24***
*All images used are screenshots from the Telos site captured via my device*
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