Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-7.

Who is your Steem recovery account

I was expecting a screenshot of your own account(indicating the recovery account), the objective of this task is to make you familiar with this Blockchain with real user experience.

It is very easy to send an encrypted or private message go to the transfer option then to the Memo option followed by a # which without leaving spaces you write the message which only the person receiving the message will be able to see it example of this.

Which key to use to send an encrypted memo and which key to decrypt it?

After sending the memo, did you check whether it is visible to all or not?

Again you did not gain sufficient user experience. You should utilize these tasks/assignments to the best of your advantage in crypto-academy, they all are related to your real-life experience/use-case in Steem Blockchain. Unfortunately, you did not.

At present until the year 2031 you earn very good steem per year so it is not yet saturated inflation rate and is relatively easy to get the steem, until 2030 in the year 2031 the inflation rate will be saturated so it will be harder to earn steem is recommended to raise the SP in these 10 years

How hard it will be? What is the difficulty level? How does the reward pool change and affect our upvote value??

Refer to this table

2021- Reward Pool size- roughly 30 Million STEEM

2025- Reward Pool size- roughly 31 Million STEEM

2031- Reward Pool size- roughly 26 Million STEEM

2036- Reward Pool size- roughly 13 Million STEEM

2037- Reward Pool size- roughly 9 Million STEEM

So in 2021, if you are getting an upvote value of $1, then it will be $0.86 in 2031, $0.43 in 2036, and $0.3 in 2037.

See, how it becomes harder as the years go by.

That is why it is more important to build SP now, it will be easy contour to build SP for the next 10 years or so. Those SP might also appreciate in value over time as we have very often observed that saturated supply paves the way for better demand.

By building SP, you will remain integral to the sustainable development of the ecosystem. Economically also you stand to gain more because you will have better privilege in proportion to your SP. Being an active curator you can help in content discovery and also you can help the quality authors to grow in this ecosystem, in return you earn a better curation reward. You can actively participate in governance and with better influence power you can vote for the witnesses who can contribute more and remain integral to this Blockchain.

According to the data provided by the table inflation rate & block reward (steem) from the year 2031 inflation will reach 0.95% for 2037 inflation from here is 0.42%, and in 2037 will reach 0.97% this indicates that by 2038 will be 0.55% therefore in my study

Please note that, once the inflation rate reaches 0.95%, there will not be any further reduction and it will remain constant at 0.95% forever.

Thank you.

Homework Task -7 successfully accomplished.
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