Crypto Academy Season 3 Beginners' course - Task 1: STEEM & TRON by @sohail9286

in SteemitCryptoAcademy3 years ago (edited)

Hello Dear friends,
I am Muhammad Sohail from Pakistan.
I am working as a lecturer in a university my subject is Financial Management. Its really enjoying for me read quality content in the steemit. Today i want to present my homework task. Your precious time is required.

I am attempting Question No.01

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?

1. What is Proof of Brain (PoB)

Before defining PoB one must understand some important terms like:
a. Reward Pool
b. Stake weighted Mechanism
c. The Wisdom of people.

a. Reward Pool

The twenty regular and one additional witness is responsible for minting new blocks. They produce new block in three seconds and they do this activity in rounds. Every round is completed in 63 seconds.
The all newly minted coins are kept in a pool which is called reward pool.

b. Stake Weighted Mechanism

The word stake mean any sort of interest/relation in related activity. The user get steem power from their activities or they purchase it by converting their saved steem to steem power through power up option.
All rewards are distributed to concerned stakeholders by curators as per their power. The power is expressed in terms of Steem Power (SP). The more power a person has the more he has the power to influence the reward system. this power based mechanism is called stake weighted Mechanism.

c. Wisdom of People

There are many authors who are publishing their content on steem. The different contents are of different quality. Some are plagiarised some are original. As the steem is a decentralised network and the curators can distribute or redistribute the rewards as per quality of content based on their independent observation (wisdom).
That is called wisdom of people

Finally

When we combine all three above mentioned important activities, it is called The Proof of Brain.

2. Curation in Steem Blockchain

Curation is a very broad term and a very important activity which may be considered as base of that blockchain network.
As the steem is a blockchain social media network. Here people produce their content as per their knowledge and skill. To promote the activities on the network these contents are firstly read. Their quality is assessed. If the content is not original and is plagiarised then it is dealt accordingly as per steem culture. If the content is of good quality then it is rewarded by upvoting the content and to reesteem it to make others able to get advantage by learning through cotent. And if the content is of bad quality then it is downvoted.
All these activities are jointly known as #curation, the people who perform these activities is called #curators and the post which is rewarded is called #curated post.

3. Benefits of Building SP

As discussed earlier about curation which is about to reward the content as per quality. And we have also discussed about Reward Pool 65% which is available to reward the content by curators.
Curators reward the posts out of this reward pool. The curators are assigned control over this reward pool. The level of control depends upon the steem power of that curator. The person who have more SP will have more control over that pool and vice verca.
The more SP the more curation reward is given. The more SP the more TRX reward. The more SP then more influence on community building.

4. Self Upvoting

The basic activity which is required to promote steemit blockchain network is rewarding the posts of the authors. The reward is distributed by upvoting the posts. There are two button at the bottom line of every post which contain a arrow up and arrow down. If the up arrow is clicked then the post is upvoted by the curator. The upvote show some monetary value in shape of $. The monetary value depends upon the power of the curator. If curator has more SP his upvote will give more monetary reward and vice verca. A portion of that reward is given to author and other portion is given to curator.

Self upvote

The author can self-upvote him/her by upvoting his own post. But it is not a good practice and is strongly discouraged. Because it depends on others to check the quality of your post. How is this possible that we decide the quality of our own post.
This is truly bad practice. I totally condemn it.

5. Exploring Coinmarketcap.com

Coinmarketcap.com is a very helping and informative platform which contain the information of 10828 cryptos. It is a live market place which show live data of all cryptos.

2F293EE6-ECD5-48A2-9C51-BA59B10E9C84.jpeg (screenshot)

It is quite easy to find statistics of your desired currency out of these 10828 currencies.
When we open the home page of coinmarketcap.com at the top of it we see the search button as shown below in screenshot

5E50548A-4BD5-4129-826E-32DE6C9F5A90.jpeg

then we write the name of our desired currency in the search button. For example my desired currency to search is steem. So i write steem is the search option

6D82D94C-3336-4DC1-B752-951818B536FD.png

When i click the steem as shown below in the search option then all the detail about steem is opened as shown below through screenshot

B0FD7F6E-2BD1-4854-A5C6-97F06611C937.png

We can see that the:

DescriptionResult
Steem Rank165
Steem Price$0.435
Coinmarketcap of STEEM$167,207,293.74

This information is checked on 11-07-2021 at 11:09 PST.

6. Token which are Earned

When we perform different sort of activities on steemit we earn different types of tokens
The payout contains SBD, SP and STEEM.
Which type of token is to be given depends upon the debt ratio.
If debt ratio is above 10% then SP+STEEM are given to author
If debt ratio is below 9% then SBD+SP
If debt ratio is between 9% and 10% then SBD+SP+STEEM are given to authors.

However, the curators are always rewarded in SP.

CONCLUSION

This article is very informative. I have learned many new things about Steem Blockchain while writing my homework post.
I am excited to complete the next.

Submitted for your kind concern.

Thanks for reading.

Submitted to:
Respected @sapwood

Sort:  

Hi @sohail9286, Thank you for taking interest in the 1st Task of the Beginners Fixed Class. Your grades are as follows:

Assessment Aspects
Rating
Presentation/Use of Markdowns
0.5 / 2
Follow Rules and Guideline
1.2 / 2
Quality of Analysis
1 / 2
Clarity of Language
1.2 / 2
Originality
1.5 / 2
TOTAL
5.7

My Review and Suggestions:

  • You have completed the task.

  • Your explanation is too shallow, study the discussion more deeply, so you can add more information to your post.

  • There are some grammatical errors, please pay attention to grammar before posting.

  • Use the bold function to highlight some important words.

  • Improve your writing skills even more by studying "Markdown Style Guide".

Thank you!

Thank you so much for your deep review.

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