Crypto Academy Season 4 Beginners' course - Task 2: STEEM & TRON
Questions
What is PoB?
What does curation mean in the Steemit Blockchain?
What are the benefits of building SP?
How do you explain self upvote as a good or bad social behavior and give reasons as to why?
Explore coinmarketcap.com to indicate rank, steemprice, and coinmarketcap of Steem. (screenshots)
What are the different tokens you earn by socializing in the Steem blockchain?
How would you use TRX earned in the Steem blockchain to optimize earning in Tron ecosystem?
What is PoB?
I want to explain that Steem is an open-source blockchain-based network and it records transactions permanently. Its dApp name is Steemit where authors publish and monetized their content.
The authors will have to prepare unplagiarized content and the curators and rewarders will reward the contents.
Proof of Brain that is called PoB in simple words is the Steemit blockchain strategy and this provides the guarantee of reward and the effective distribution of the Steemit platform. It depends on the writer's originality, the effect of the written data, and the information that the writer provides in his content, and the reader read to the content and analyze the content that is good or bad? right or wrong? then after analyzing the content they distribute the reward.
We can say that PoB means the Proof of Brain that author proves by its content's originality and expertise and the ratio of reward depends on the Steem Power (sp) of the rewarder or curator. The Steemit uses a method where it permits its users to build Steem Power and vote on any post and the method is called stake-weighted mechanism(SP).
PoB is the combination of the reward pool(65% of the total), the stake-weighted mechanism(SP), and the wisdom of people of their content.
This community, I mean Steemitcrypto Academy is the best example where authors would have to upload plagiarism-free content for reward and the reward distributes according to the content.
What does curation mean to you in Steem Blockchain?
Usually, it is understood to distribute rewards from the reward pool but it is completely wrong because it is not enough definition of curation.
Content is being curated by the below steps:
Read the content and analyze its quality and offensiveness
Checking the post to check its originality, sources, and validity
If the content is written in the post is original then upvote it using steem power and weight voting
If it is plagiarised then aware to the communities to downvote and warning to the author's content and author.
If the content is so useful that it has more need to explain in step blogs then aware to the author to more work on the same contents so the knowledge gain to the people.
Resteem posts that people read more and instruct people to work on the beneficial content.
Totaly curators check the Proof of Brain
These are the steps by which a post is curated and those who curate the posts are called a curator and curators also get the reward of their curated post.
What are the benefits of building SP?
It is important to build Steem Power because it works as fuel in the Steemit and the value of the vote depends on the ratio of Steem Power. When the steem power increase then voting value also increases so it is important to build your steem power in the Steemit.All the reward ratio depends on the value of the steem power and all curators and boomings accounts on the Steemit must have a high stock of the steem power so every author should build its own steem power. By steem power, an author can support his community in which it is working and also can get the support of the community by delegating steem power. When a user delegates his power to a community account then the voting value of the community account increases and the community supports his subscribers so this is so good idea of reward to the authors.
How do you explain self-upvote as a good or bad social behavior & why?
Self-voting is a method in which an author votes his posts to rate up posts. This is actually understood very stupid technique that an author is rewarding its own posts while they may be not praised able while, on the other hand, an author who has a lot of steem power than should vote up to other posts because it of this a positive trend will creat in the community and I am describing it in my point of view.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
The coin market cap is one of the most reliable website that provides the latest data about cryptocurrencies with complete detail.
Let visit it and find out the STEEM.
First of all, I type the address of the site on my web browser and I reached the main page of the site.
I saw a lot of currencies index and I started to finding STEEM then I saw a search bar on the front of the site where I searched STEEM.
A new page opens on the previous web page where all the details were looking about the STEEM and you can see that the rank of the STEEM rank was #191,
Steem Price #₨106.59 PKR,
Trading Volume #₨1,828,745,910.75,
Volume / Market Cap 0.0441, Market Dominance 0.01%,
Market Cap ₨41,466,148,999.70,
Date | Outcome |
---|---|
Cryptocurrency | STEEM |
Price | 106.59 PKR |
Ranking | 191 |
Trading Volume | ₨1,828,745,910.75 |
Coin Market cap | ₨41,466,148,999.70 |
What are the different tokens do you earn by socializing in Steem Blockchain?
Steem Dollars (SBD):
Steem Dollar is the dollar currency of the Steemit that is earned by the curator voting. An author gets the reward in the form of SBD in which 50% returns to the curators and 50% is taken by the author. SBD is designed as USD to show the price of 1 SBD in US dollars. Steem Dollar is becoming a popular cryptocurrency because of its higher value with the easy and secure network using.
Steem Power:
Steem Power is the real cause of the voting in the Steemit. This is the influence power of a user and rewards are getting through Steem power because the ratio of 100% voting depends on the value of the Steem Power and it increases with the increase of the steem power. An author can set his reward to 100% SP and in this case, it will get a full reward of 100% steem power.
STEEM:
This is the main token of the Steem blockchain and you can trade with other cryptocurrencies by using this token with swap and the steem power is made by this token. Any user could not withdraw his earning in the form of SBD or Steem Power, by this token he can withdraw his earning because in the Steemit currency withdraw in the form of STEEM.
TRON (TRX):
TRX is linked to Steemit and in the Steemit 1SP = 1 TRX. It is earned with the same process of the Steem power in the wallet. It increases as the Steem Power increases in the wallet. A user can save it in the TRX link wallet that is the wallet of the TRON ecosystem.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
As I already mentioned that TRX in Steemit can be connected with the Tronlink wallet because if they are connected to the Tronlink wallet, the earning will save in the Tronlink wallet that we earn on the Steemit and by the same process by saving the Tron in the Tronlink wallet, they could be used to optimized earning in the Tron ecosystem. In the steem blockchain, they can be optimized on Sun. io-like platforms and can be also used in trading and by staking the LP tokens a user can mining SUN tokens, and in the Steemit wallet, they can be used for earning. FOr earning more TRX we should make more quality content to get more rewards because TRX also provides to the author wallet with the Steem Power when the reward is being redeemed.