gryang54 / vpacademy-intro-opportunity

A repository for submissions from the Vital Point Academy Introductory Opportunity on Catalyst

Welcome, please fork this repository and upload your work for the intro opportunity to that fork. Then create a pull request :-).

Add your answers to this readme file in five separate commits

markdown syntax

Answer I

The main difference between the Testnet and Mainnet is that a Mainnet operates using real currencies and transactions, while the Testnet operates using hypothetical transactions with test accounts to better understand the process of decentralized currencies off of the NEAR blockchain.

Answer II

Below are definitions of the variables that I was asked to find

Amount: Displays the quantity of Yocto NEAR (10^-24) present in the NEAR account.

Formatted Amount: Displays the quantity of NEAR (10^0) present in the NEAR account

Block Hash: Record of all transactions that have occurred on the block. I am unsure how the Hash is able to display all transactions with only a sequence of letters and numbers. Would like more information on this if available.

Block Height: Location of block on the blockchain, organized chronologically by blocks that were confirmed before it.

Code Hash: Hash that displays the contract that the account is working under. Would also like more information on how this is achieved. Statement of the account before the contract is introduced shows the code has to be a sequence of 1’s, but after a contract is introduced there is a new sequence.

Locked: Displays how many keys are on the account

Storage paid: Absolutely zero clue. I was told that this variable was not used anymore and not to worry about it.

Storage Usage: Shows the amount of storage that the account has used.

Answer V

Below is a definition and description of a contract and the changes in state A contract is an application that is run using Web Assembly or RUST. Contracts run specific code and store data on the blockchain. I would like more information on how contracts work. After the contract the major changes noticed were that the code hash displayed a new sequence of numbers and the storage usage had been increased.