Crypto Academy Season 4|Beginners’ Course|Home Work Post for Task2: Steem and Tron
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Greetings amazing steemians, welcome to my homework post for task 2 , my appreciation goes to @sapwood for this great lecture
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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
What is PoB?
PoB is an acronym for Proof of Brain which is a concept used on the Steem blockchain to express the distribution of author and curator rewards based on the quality of a users post, when a Steem user post an impactful and original content free from all forms of plagiarism, they are rewarded and are able to monetize it. The upvotes, rewards and engaging comments are like a boost to the user and these all fall under the PoB concept. The Reward pool distribution between the author and curator is placed at 50/50 and this enables both parties to grow in the community.
What Curation Means to Me in the Steem Blockchain?
Curation to me in a few words is simply the upvoting of impactful contents that is plagiarism free in a community, it involves the reading of the content and resteeming (sharing) to be able to reach a wider audience for the growth of each user.
Benefits of Building Steem Power?
Before I list out the benefits I would like to define the term Steem power. Steem power (SP) is the influence token which allows user’s participation in some certain task and also gives users more control over a post payout.
The benefits are both in monetary value and others, they are as follows;
→Influence Power ;a Steem user with high SP has greater power to distribute and redistribute rewards, in other words high SP determines how influential a user will be on the platform.
→High SP gives a user ability to participate in certain task as some task has SP requirements.
→Building SP aids in delegations, a user with a high SP can delegate to other users (newcomers for example) and this leads to community growth.
→Building of SP gives a user high voting power and enables a user get more rewards on post.
→Building SP gives a user greater chance of becoming an influencer in the platform.
How I Explain Self Upvote as a Good or Bad Social Behavior and why?
I see self upvote as a bad social behavior because upvotes are meant to be rewards and motivation to a user for creating an original and impactful content leading to community growth , so when a user self upvotes it’s like giving himself/herself that reward instead of giving it to other users with great content thereby abusing it’s intended use.
Explore coinmarketcap.com to show rank, STEEM Price and Coinmarket of Steem (Screenshot required)
For this I go to my browser and search the coinmarketcap.com and search Steem in the search bar and I get the information.
From the Below Image the statistics are as follows:
| Rank | 192 |
|---|---|
| STEEM Price | $0.6043 |
| Coinmarket of STEEM | $235,674,545 |
|---|
What are the Various Tokens you Earn by Socializing in Steem Blockchain?
The various tokens you earn by socializing on the Steem blockchain are as follows;
→Steem Power (SP)
→Steem
→Steem Dollar (SBD)
→Tron (TRX)
Steem power : This represents the influence token of a user.
Steem : This is the native fee-less token on the blockchain to which tokens like the SBD & SP would be converted to in other to trade.
Steem Dollar : This token is created to be equivalent to the USD although in the external market 1SBD might value more than 1USD
Tron : This is an additional token earned by users in a ratio 1:1 on every curated post.
How I would use my TRX Earned in the Steem Blockchain to Optimize Earning in Tron Ecosystem.
In other to optimize my earning in the tron ecosystem, I would first generate LP by contributing an equivalent amount and then start liquidity mining by staking my LP tokens, also by freezing my trons I get rewarded.
Conclusion
Steemit is a decentralized blockchain, an ecosystem of social blogging unlike any other which enables users to monetize original and non plagiarized PoB content.