Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [STEEM AND TRON]

afunkycares (65)mutedBeginner[1,2,3,4,5,6,7,8,9,10]in SteemitCryptoAcademy • 3 years ago

Hello steemians, I am excited to be a part of the season three of the crypto course of the steemit Crypto Academy. Here is my submission on the home work task given by @sapwood our amiable Professor.

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?

PoB which means Proof of Brain is a blockchain consensus algorithm that the steem blockchain is built. Proof of Brain is simply the structure in which the reward distribution is based on steemit. This helps to distribute rewards accordingly based on the extent of understanding or knowledge of a subject displayed by a person. Therefore the reward gotten by an individual for a post is dependent on the brain work the person has done in making the post. This can also include the markdown styles used while displaying the knowledge of a subject.

In essence, proof of brain comprises the brain work of a person largely dependent on the SP which determines the reward for a post.

What does curation mean to you in Steem Blockchain?

Curation in the steemit social media platform means different things.
I am going to list the different meaning of curation below.

Curation means reading a post on steemit.
It means commenting on a post on steemit.
Curation means voting on a post on steemit.
Curation means resteeming a post on steemit.
It also means checking out for plagiarised content which may be harmful to the steemit platform.
Curation means checking out the markdown styles used for a post.

What are the benefits of building SP?

There are two three basic reasons for building SP. These are:

Gain reputation and influence.
Building SP helps steemit users to gain reputation and influence in the community. It helps one to grow and attain status in the steemit platform.

Help in curation and earn from curation.
Not every user of steemit can vote meaningful and add to someone's post. This is very much dependent on SP. For individual voting, one has to have 500SP, 1000SP to vote at $0.01 and $0.02SP respectively. These individuals are rewarded half of the vote they use on a post.
For an individual who wants to earn from curation but doesn't have up to 500SP must join a community curation trail in order to earn when the community votes.
It helps to hodl steem.
SP building is a way of holding coin for the future outburst of price. It makes coins not to be easily accessible, making the owner hodl it for a long period.

How do you explain self-upvote as a good or bad social behavior & why?

Self-upvote is simply voting for oneself. It is the curation of one's post by one's self with reward as it concerns voting.
This act done by some steemit user is a bad one and I for one do not appreciate or approve it. Self-upvote is just like stealing from one's self. It is a very bad behaviour.

It is bad for me because it is like consuming one's food or market items that have been brought out for sales.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?

To attempt this question, I downloaded coinmarketcap app from play store.

This is the homepage of coinmarketcap where we have different coins as seen in the screenshot below.

Clicking on the candle-like icon, a long list of cryptocurrencies shows up.

On the coinmarketcap, the following details are gotten on the steem coin.
Rank of Steem: 264
Price of Steem: 0.2364
Coinmarketcap: $93.35million

What are the different tokens do you earn by socializing in Steem Blockchain?

Steemit is one of the social media cryptocurrency blogging platform that rewards with multiple tokens.
This tokens that can be earned while socializing or publishing contents in steemit includes:

Steem
Steem Power
Steem Backed Dollar
Tron

STEEM

This is the official cryptocurrency of the the steemit social media. Steem is a tradable token in steemit platform. It can not be earned directly from content created or curation but it can be gotten by converting other tokens to it. For example, Steem Power can be converted to steem in a process known as power down and SBD can be sold to steem. Steem can also be converted to steem power in a process known as power up. Steem can be transferred to another steemit account or other exchange platform.

STEEM POWER (SP)

Steem Power is the token that gives one influence and reputation in the steemit platform. It can be gotten from both content created and curation. SP can be converted to steem in a process known as power down. It can also be delegated and transferred to another steemit user.
Steem Power is not tradable.

STEEM BACKED DOLLAR (SBD)

This is a token in steemit that can be transferred to other exchanges and traded for dollars ($) and other fiat currencies. It can be gotten from curation and content creation.
It can be sold to steem right on the Steemit platform.

TRON.

Tron is a cryptocurrency on its own. It was integrated into the steemit platform to facilitate more rewards. For every content created in steemit that is rewarded, the equivalent number of steem power given for the post is also given in tron. That is the more SP one has, the more tron the person has in contents created.