STEEMIT CRYPTO ACADEMY S5-W3 - UNDERSTANDING THE STEEM BLOCKCHAIN

in SteemitCryptoAcademy2 years ago (edited)

png_20221024_101011_0000.png
Image edited on Canva

Hello to everyone in this wonderful community today. I believe we all are in good and safe condition, if so, praise be to the almighty. I welcome you all to yet another week of the steemit engagement contest today.

It is a fresh week of the steemit engagement contest and I will be participating in this community contest that has been organized by the community team titled understanding the steem blockchain. So I beckon on you all to stay put as I drop my entry to this contest



Before I go into details, it is expedient that we all know what the steem blockchain is before hitting the nail on the head. So without wasting much time, I will be explaining briefly, what the steem blockchain is.

WHAT IS THE STEEM BLOCKCHAIN

pexels-pixabay-315788.jpg
Image source

The steem blockchain is a decentralized social media application that was built on a blockchain. And just like other social media platform, the steem blockchain promotes activities such as blogging and making contents, interacting with other users and many more.

But the distinctive feature of the steem blockchain which has made it exceptional is the incentives it gives to it users on the account of creating quality contents that are beneficial and informational to users on the platform.

In fact, the steem blockchain is the first social blockchain to have a unique features of rewarding users when a quality content is made. Other platforms only enhance interaction and do away with users data, but the steem blockchain reward users who create quality contents.

EXPLAIN THE FOLLOWING TERM STEEM, SP,
SBD, AND TRX

The above terms are rewards gotten from the steemit platform. These are the incentives given to users when a posted is been curated. In a nutshell, these are the basic rewards we claim when our post is curated.

STEEM

The steem reward is the native token of the steem blockchain. Users are rewarded with the steem cryptocurrency since the platform is based on the steem blockchain, it is a cryptocurrency which it platform was developed by DAN LARIMER AND NED SCOTT.

So the Steem cryptocurrency is part of the reward we claim after which our articles are being rewarded and a user will then choose to power up either all of it which makes the user to be in a club called #club100, or a user can choose to power up about 75% of the steem reward which then makes the user to be in #club75, and lastly a user can choose to power up 50% of the steem reward, and this makes the users a part of #club5050.

So literally, that's all I can say about the steem reward.

SP( STEEM POWER)

The steem power is also part of the incentives we earn on the steemit platform. The SP which is also known as the steem power is a token that is automatically being powered up to build our holding capacity in the steemit platform.

SBD(STEEM DOLLAR)

The SBD also known as the Steem dollar is another reward gotten from the steemit platform. The SBD takes after the USD and possess alike feature of it. The SBD is also a token which is awarded to users after the post is been curated.

The SBD possesses more value than the sreem and as such, one SBD used to be equivalent to 13 Steem, and as such, it increases the reward we get after converting it in the market.

Although currently, due to the declined of cryptocurrency, we are yet to see the SBD rewards on our post, but when there is a rise in cryptocurrency price, we will surely see the SBD as a part of our reward.

TRX(TRON)

The TRX is also known as the Tron cryptocurrency. It is another reward we get from the steemit platform after the integration of trx in the steemit platform in the year 2018. So the collaboration of trx with steemit platform has made users to get trx reward as part of the reward in the steemit platform.

And since the SBD is not currently available, the TRX reward has been increased in other to bridge the gap of the missing SBD reward that is lacking for now due to the downtime of the cryptocurrency Price.

EXPLAIN THE BENEFIT OF BUILDING ONES SP IN THE STEEM BLOCKCHAIN?

Building one's SP in the steem blockchain is very crucial and a particular role to play as users who are benefiting from this platform.

Users are rated according to their individual steem power which we all possess in the steemit platform. The SP gives us more influence in the steemit platform. Aside giving us much capacity on this platform, it also strengthen the steenit blockchain for the betterment of the platform.

Also building one's SP is very important to us particularly. Truth be told, many users do not see the need for building their SP and it is wrong. Aside making the platform stronger and better through power ups, it also helps us as users to save for the rainy day.

Most times, we engage in power up contest, the contest is brought forward so that we can all see the need to build our steem power and then help us save for the future and also helps us to strengthen the blockchain. So we can all see that it is indeed a win-win for everyone.

That is why it is always advisable to always power up our steem so as to give us more influence, power holding capacity in the platform.



THE MEANING OF CURATION IN STEEM?

Curation is the act of rewarding and encouraging users in the steemit platform. It is a way of maintaining valuable content that are steemexclusive, unique, and without plagiarized contents found in the article.

This is a way of sustaining the platform whereby users make quality posts in the platform and then the posts get curated by those with large amount of SP. So you can see how building our SP is connected with curation.

So curation is a way of building the platform through encouraging users by rewarding their post and also through that aspect, the blockchain get it maintenance.

IS SELF VOTING GOOD OR BAD?

Now in as much as we are to build our Sterm Power does not necessarily means we should be selfish and bad. The steemit platform encourages us to build our SP in other to encourage others and not to serve the purpose of our selfish interest.

Selft-voting is a bad thing to do in the steemit platform and as such, it should not be done by any user. In as much as we want this platform to grow and attain new heights, we all should refrain from the act of self voting.

Now imagine, if our reputable curators only vote themselves, then how can we grow, how can our communities stand, how can this platform stand?. These are some questions we ought to ask ourselves before doing such, and as you can see, it will do the platform no good if we all partake in self-voting.

So to me and based on the standard of this platform, self-voting is wrong and should not be carried out by any user in the steemit platform.



EXPLAIN VOTING WINDOW IN THE STEEM BLOCK CHAIN BY PROVIDING TWO SCREENSHOTS OF A PREPAID OUT POST AND A POST PAID OUR POST?

Voting window in the steem block chain is of two categories. We have the voting of a post that is less than 7 days (prepaid out), and also we have the voting of a post thay is more than 7 days (postpaid out post). Now I will be explaining the both voting windows with relevant screenshots.

Screenshot_20221024-092109_Chrome.jpgScreenshot_20221024-092938_Chrome.jpgScreenshot_20221024-092735_Chrome.jpg

The above are screenshots of my voting operation before and after the vote I casted on an article of my very own friend @badmus-official. And as we can see, I have voted his article that is still less than 7days. And as you can see, my voting manner before I casted my vote was and now it is currently.

So since the post is yet to be paid out, it will sure produce monetary value to the post I just voted, since my voting manner has been reduced for this confirmed it that it will add value to the current reward of the post.

Screenshot_20221024-093523_Chrome.jpgScreenshot_20221024-093717_Chrome.jpgScreenshot_20221024-093806_Chrome.jpg

The above are screenshots a vote I casted on a post of another user I do not know that is more than 7days old. Now my vote on this post doesn't count since the post has been paid out already and as such it has gone to waste without benefiting anyone.

We all have seen that it has also taken nothing from my voting manner and as such, it will not add monetary value to the post since the post has already been paid out.

It is of no good to vote on articles whose reward have been paid out already because we are only wasting our time and votes which are supposed to be used on articles that are less than 7days.



ADVANTAGE AND DISADVANTAGE OF THE STEEM BLOCKCHAIN?

I will be providing the answer to the above question in a tabular form and although they are many advantages and some disadvantages but I just have two for each to talk about.

ADVANTAGEDISADVANTAGE
The steem blockchain helps us to a great extent by giving us rewards on our articles, it provide job for users that have nothing doing to earn a living. It helps us to save for the future through the rewards we get from the platform and as such, we benefit a lot from the platform.It doesn't not have a normal application just like other social media platforms where we don't have to launch our browser before accessing the platform
2 - It builds our intellect and exposes us to vast knowledge beyond our individual biosphere. We learn from others through the interaction with one another which this platform has provided for us and that is a great advantage to us all2 - It is so sad that votes are not guaranteed, and this has made so many users who are only here for the votes to flee from the platform.

CONCLUSION

Thank you to the various team head for coming up with such a great contest, I believe I have done justice to every part of this topic questions.

I will like to use this medium to invite @badmus-official, @jueco and @v-brainer to also participate in this contest.

Sort:  

It is very important to steemexclusive your post to the unique and also show that your post is not under bot. You have a very good presentation about steemit blockchain. Thanks for sharing.


Congratulations...!!! Your Post Selected Got Upvote %
By: Urdu Community

image.png

Subscribe URDU COMMUNITY

Quick Delegation Links

50SP100SP150SP200SP500SP1000SP1500SP2000SP

Subscribe URDU COMMUNITY

Our mission to promote Steemit in Urdu Community to all over the world
Stay together
Join the Urdu Community with more confidence.
Steem On


curated by @yousafharoonkhan
24-10-2022

Thank you for the support friend.

 2 years ago 

Curation is the act of rewarding and encouraging users in the steemit platform.

You are right. Besides rewarding the quality content through upvotes other activities like commenting, resteeming, upvote/are also part of curation.

Voting window in the steem block chain is of two categories. We have the voting of a post that is less than 7 days (prepaid out), and also we have

Voting window is only upto 7 days . After 7 days period there is no monetary effect due to upvotes .

Good luck

Loading...

TEAM 3 CURATORS

Congratulations!
This post has been upvoted through steemcurator06.
We support quality posts anywhere and any tags.
Curated by : @simonnwigwe

Thank you so much brother @simonnwigwe for the support

 2 years ago 

Selft-voting is a bad thing to do in the steemit platform and as such, it should not be done by any user. In as much as we want this platform to grow and attain new heights, we all should refrain from the act of self voting.

Our rewards on the Steem blockchain is given through the Proof of Brain model that ensures the post that is supported has value it is passing across to other people. As content creator, it should be other people's work to judge us and not judging ourselves.

Self-voting is like judging oneself and this doesn't work in line with the Proof of Brain. Curation should be pure and self-voting isn't pure so it should be discouraged. Thanks for writing good information about the Steem blockchain and sharing with us. I'm happy to read your post friend.

You have tags for club5050 and club100. Which is it? It can't be both.

 2 years ago 

Hey bro,

The steem reward is the native token of the steem blockchain. Users are rewarded with the steem cryptocurrency since the platform is based on the steem blockchain, it is a cryptocurrency which it platform was developed by DAN LARIMER AND NED SCOTT.

Steem is a powerful coin, it's the official medium of exchange and rewards made on Steemit, although the crypto market has been facing some issues recently but the steem coins has continued to fight harder to go bullish and to be sincere I believe in no distance time steem would make us all happier and more successful. This guy's DAN LARIMER AND NED SCOTT names are supposed to be recorded on halll or fame because they really created something awesome

Thank you very much for sharing, please you can check my own entry here

wishing you success

Coin Marketplace

STEEM 0.19
TRX 0.15
JST 0.029
BTC 63179.13
ETH 2573.33
USDT 1.00
SBD 2.72