Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: STEEM & TRON
Introduction
Hi guys,
Yet again I will be partaking in the task number one of the introductory courses for all for all steemians who have mee the maximum requirement needed. This course was delivered by our very own dear respected professor in the person of @sapwood. So after attending the lecture delivered by the professor I will be attempting the home work task on my blog below. Let's have fun as I ride you through it.
Yet again I will be partaking in the task number one of the introductory courses for all for all steemians who have mee the maximum requirement needed. This course was delivered by our very own dear respected professor in the person of @sapwood. So after attending the lecture delivered by the professor I will be attempting the home work task on my blog below. Let's have fun as I ride you through it.
Assignment:
What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior & why? Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)? What are the different tokens do you earn by socializing in Steem Blockchain?
What is PoB?
When we talk of the word proof of brain, we simply means the test of the Brian. Proof of brain is a English word that can be understood by everyone who hears it. Let's look at this word properly in the context of steemit or technology. Today we have a lot of mechinaries in place which has help us carry out our daily activities faster and more easier and the initiative all making this machines are brought by people like you and I. So what they have done is to put proof of brain into action. The use their brain to think and then provide a solution to problems. Now same thing happens in steemit as a platform. When a place provides an article that adds value to the platform or that helps in solving any real life situation, we say that proof of brain has been put to use.
It is important to mention here that there are reward given to those who make use of the proof of brian in the steemit platform. Just as I have earlier said, when you publish an article that adds value to the platform, you get rewarded for using your brain. Note that before this time, miners get rewarded by the process known as proof of work which is the use of equipment to calculate for the next block. But here, your brian functionality is all that is required to earn you a reward.
Now, in steemit when we mention the proof of brain, we should note that it refers to both authors and curators. Note that authors are the creator of the content whereas curators are the readers of the content. So how does the curator use proof of brain here? It's very easy an simply, as a reader of a content I should be able to dictate how genuine the content is and whether or not it is plagarised. More also I should be able to state it based on the information the content is able to pass to me so all this requires the Brian. Hence we can see where proof of brain works in the curators side. So there are few attributes that should be taken into consideration when looking at proof of brain and they are peoples wisdom, steem power and the reward pool. I will be explain them briefly below and how it is associated with the proof of brain.
Peoples Wisdom
The wisdom of the people is the ability of the people to be able to dictate a quality and original content and also grade them accordingly without any form of biasness. It is expected that while a curator is curating an article he or she should not even look at the username in other not to be bias and should grade the content accordingly.
Steem Power(SP)
The steem power is one thing that helps you as a curator to give your best vote to a quality content that you have found interesting. Note that the steem power is what gives you influence in the platform, so if you have a higher steem power, you have a higher influence and verse verse. So for proof of brian to be more effective you are recommended to build your steem power.
Reward Pool
I said earlier that you get rewarded for demonstrating proof of brian. Now this reward normally comes directly from the reward pool. Now at the end of the post payout, what happens is that 65% of the reward are given to both authors and curators and they in turn share it 50/50. So both the author and curators who have demonstrated the proof of brain bet rewarded at the end of the lost payout.
What does curation mean to you at Steem Blockchain?
To me curation means the ability to read through a content and then comprehend the content and also grade the content accordingly. This means that as a curator you should be as to determine whether the content is a good content or not, also you should be able to determine whether it is a plagarised content or not and also whether it is adding anything to the platform or it is harming the platform. Once you are able to do all these, then you can be able to grade the content according to the criteria checked.
Just like I said earlier that you ought to grade it accordingly, more also you have to vote it accordingly as well. This means that you have to decide based on the grade given to the content whether it should be given a 100% upvote or less or should the lost be downvoted instead. Having said that let me briefly talk about upvote and downvote. When you upvote and article, you add something to the author and at the end you get what we call curation reward. But when you downvote a post the reward goes back to the reward pool and at the end you don't get any reward at all.
Still on the matter of voting, there is what we call the voting mana. This talks about your voting strength been reduced after every upvote that is done. The strength of your vote only restores back to normal at the end of every 24 hours.
What are the benefits of building SP?
There are many benefits associated with building steem power and below I will be listing some of these notable reasons.
Number one reason for building steem power is because of influence in the steemit blockchain. When you have enough steem power, you will not be restricted as a matter of fact you will always be considered. Take for instance the just concluded steemit crypto academy season three where we have different tiers based on reputation and steem power.
Number two reason to build steem power is to be able to support novice or newcomers in the platform. Take hive for instance if you don't have hive power, you won't be able to make a post, so steemit also requires you build your steem power and that is why you are given 15SP to always start with.
Number three reason why you need to build your steem power is so that you can earn more reward, note that we are now given tron as part of our reward and the number of steem power given at the end of each post payout is same tron that is given. So if you have higher steem power, definitely your duration reward will be large as well.
How do you explain self-upvote as a good or bad social behavior & why?
In steemit as a platform, what we focus on is the proof of brain. And I have earlier explained that this PoB is for both the authors and the curators as well. With that been said, I see self-upvote as a bad social behaviour, this is because the content written was done by me and for that reason I was suppose to allow those who have found it useful to vite the post and not myself voting my post. If that is allowed and encouraged, the the essence of proof of brain will be defeated. Hence I don't encourage this very act as a matter of fact it should not be found among any steemians. Now consider what is going on in the crypto academy, where professor are dropped eventually every season, but despite that there are few professor who have stand out am talking about @sapwood, @stream4u and @yohan2on. Since the beginning of the academy they have been there due to the quality of content produced by them people always vote their post. So it should always be that way and we voting our post. Note also that if this is encouraged, the likes of @trafalgar wi always be voting his post.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
Coinmarketcap.com is really a very important tool when it comes to trading or having to know about any coins of your choice. So in this section we will be exploring the coinmarketcap.com using the site https://coinmarketcap.com/
Below are information on steem that is found on the coinmarketcap.com
- Steem Price $0.5716
- Market Rank #183
- Market Cap $221,516,550
The screenshot below shows more information on Steem.
Historical data for Steem
Steem Price overview
News
Steem market
Steem Chart
What are the different tokens you earn by socializing on Steem Blockchain?
The tokens I earn by socializing on the steem blockchain are Steem, Steem Power (SP), Steem Dollar/Steem Backed Dollar (SBD) which belong to the steem blockcbain and Tron (TRX) which belongs to the tron blockchain.
Steem (STEEM): This is the main token of the steem blockchain. You get steem by buying this token either using an exchange market or from the market in the steemit platform.
Steem Power (SP): This is also a reward gotten by content creators and curators at the end of the payout of each post. Steem power comes as a result of powering up our steem.
Steem Dollar/Steem Backed Dollar (SBD): This is another reward that we earn in the steemit blockchain for both authors and curators. This can be used to purchase steem.
Tron (TRX): This happens to be an additional reward because it is not from the steem blockchain it came from the tron blockchain and is earned in same ratio as the steempower.
Conclusion.
This is really a very wonderful lecture delivered by the professor himself. I have really be informed both at the time of reading this course and also making research to perform the homework task. I must say I really enjoyed the class as I have learnt a whole lot about PoB. Thank you @sapwood for such an amazing class, I look forward to learning more from you.
Hello @johnkuzzy , I’m glad you participated in the 1st task of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:
Recommendation / Feedback:
You have given a wonderful explanation. Thank you for submitting your homework. task 1. We hope to see the rest of your submissions.
Thanks professor