Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain
Hello everyone! I hope you are all doing well and enjoying life with the blessings of Allah Almighty. I am happy to take part in the exciting challenge hosted by SteemitCryptoAcademy community' Contest Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain So, without any further delay, let's dive right in!
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Does the attribution of rewards on steemit follow the same convergent linear reward curve since its creation or has it undergone some modifications? If yes, talk about the causes of this change? |
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The rewards attribution to content writers on Steemit underwent three phases: Quadratic Linear Reward (f(x) = x^2), Transition to Linear Reward (f(x) = x), and Convergent Linear Reward (f(x) = x^2 / (x+1)). Initially, the Quadratic Linear Reward system favored users with more Steem Power (SP). In 2017, a shift to the Linear Reward model provided equal earning opportunities based on SP.
However, issues such as self-voting led to the introduce of the Convergent Linear Reward system in 2019. This model balances Steem Power stake and user engagement, encouraging active participation and quality content creation.
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Phases |
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- Quadratic Linear Reward (f(x) = x^2)
When Steemit was for the first created in 2016, the platform used a reward system called Quadratic Linear Reward. Under this system, rewards were distributed based on a quadratic equation, f(x) = x^2. Essentially, users who held more Steem Power (SP) earned more rewards. However, this approach was seen as unfair to newcomers and for users to platform with limited SP, as it heavily favored those with larger investments.
- Transition to Linear Reward (f(x) = x)
In response to these concerns, the rewards system was changed in 2017 from quadratic to a Linear Reward model, which used a simple equation, f(x) = x. This deals that the input (SP) directly correlated to the output (rewards), ensuring a more equal distribution. However, this change led to other issues, such as the misuse of rewards through self-voting & a decreased emphasis on discovering high-quality content.
- Convergent Linear Reward (f(x) = x^2 / (x+1))
To address these problems, a new reward system called Convergent Linear Reward system was introduced with the 2019 hard fork. This model uses the following equation: f(x) = x^2 / (x+1). The Convergent Linear Reward system aims to strike a balance by rewarding users based on both their stake power (SP) and their engagement with the platform. It encourages users to interact, engage, and upvote on content using the Proof of Brain (PoB) mechanism.
Generally , these changes in the rewards attributtion system on Steemit were implemented to promote fairness, encourage active participation, and improve the overall quality of content on the platform.
The changes in the reward attribution system on Steemit platform were primarily driven by the need for fairness, improved engagement, & enhanced content quality. Here are the causes behind each phase:
Quadratic Linear Reward (f(x) = x^2):
The initial reward attribution system favored users with more Steem Power (SP), leading to an imbalance and inequality among content creators in platform . This prompted the need for a change to ensure a fairer distribution of rewards based on contribution rather than just power stacking .Transition to Linear Reward (f(x) = x):
The transition to a linear reward model was motivated by the desire to create a more equitable steem platform. This change aimed to provide equal earning opportunities to all platform users, regardless of their SP, thereby encouraging broader participation and reducing the dominance of high SP holders.Convergent Linear Reward (f(x) = x^2 / (x+1)): The introduction of the Convergent Linear Reward methodology aimed to address issues such as self-voting and incentivize quality content creation. By merging the influence of Stem stake and engagement, this model encourages users to actively interact, vote, and engage with other platform participants, ultimately fostering a more dynamic and high-quality content ecosystem.
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Show the added value that brought it this convergent linear reward curve, and how this system is applied on Steemit Blockchain. |
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The Convergent Linear Reward system has played a important role in improving and developing the Steemit platform. One of its most important contributions is discouraging self-voting among users. Previously, some users with large Steem Power (SP) holdings could manipulate the system by voting for their own posts , but this system has reduced such practices in platform .
This reward system also helps reduce the dominance of whales (higher power stacker ), who have substantial SP. In the past, they had big control over the platform due to their higher rewards. However, with the Convergent Linear Rewards attribution Curve, their influence is limited as the rewards become linear after a certain point. This encourages them to use their SP to support and curate content from other users on platform .
Increased user engagement in platform is another major benefit of this system, aligning with the platform's goal. When users are more engaged, the platform becomes more active & experiences growth. The Convergent Linear Curve incentivizes users to actively participate in various activities , interact, and upvote each other's content, fostering a vibrant and thriving community.
Furthermore, the Convergent Linear Reward methodology ensures that high-quality content creators have an equal chance to earn rewards compared to users with large SP holdings. This system also encourages users to create valuable content and actively engage with the community to receive solid upvotes and support from others on the platform. Ultimately, it promotes fairness, quality, & engagement on Steemit.
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What is the difference between isolated curation and community curation? What type of curation do you prefer for quality content in Steem Blockchain? |
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When it comes to curation on the Steemit platform, there are two types: Isolated Curation and Community Curation. Let's explore the two types differences between these two approaches.
Isolated Curation is where individual curators independently select and vote on any choice posts based on their own judgment and preferences. It relies on the voting power of individual users to curate any particular content. In this type of curation, a single user can choose to curate a post they personally find it interesting or of high quality.
On the other hand, Community Curation include a collective effort from a community or a group of users to curate posts on the platform. The curation process in a community is guided by community standards & curation trails established within the community. It utilizes the combined Steem stacking of community members to support selected posts, taking into consideration various factors and certain criteria set by the community.
As for my preference both isolated curation and community curation have their own merits. Isolated curation allows for individual taste and diverse perspectives, while community curation benefits from collective wisdom and specific rules base criteria. Ultimately, the choice between the two depends on the specific context & goals of the platform and its users.
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Does the community curation have only a financial contribution or other benefits, if so which ones? |
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Community curation brings some numerous benefits beyond financial contributions. Let's explore her these advantages in a more detailed manner.
One of the significant benefits of community curation is fostering a friendly and supportive environment on the steem platform. It helps in building strong communities where users can connect each other , interact, and collaborate, contributing to the overall growth and vibrancy of the platform.
Furthermore, community curation also enhances content discovery. When a post is curated by a community curation trail and receives some upvotes, it becomes more visible & accessible to a wider audience of platform users. This exposure increases the chances of valuable content being discovered and appreciated by platform individuals.
Engaging in community curation process also has a positive impact on a user's reputation within the platform. As a user actively participates in community curation, their reputation can grow rapidly, as their contributions are recognized and acknowledged by the team of community.
In addition to reputation growth, community curation also can also lead to an increase in the amount of rewards generated through curation process . By joining a community curation trail, users can leverage the collective voting power of the community to enhance their curatedrewards.
Overall, community curation plays a significant role in the growth and development of the platform. It also encourages community user interaction, engagement, and organic growth by fostering a sense of belonging and collaboration among users. These benefits contribute to a thriving and dynamic blockchain ecosystem on the Steem Blockchain.
- References :
- Steemit Corner#7 : How does convergent linear reward affect post payout in Steemit?
- Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain
With Best Regards
@artist1111
Goodbye, friends. It's been a pleasure getting to know you all participating in this community. I will miss interacting with all of you, but it is time for me to move on. Take care & I hope to see you all again very soon , Best of Luck .
As the sun sets on the day
And the night falls softly in
We close this chapter, dear reader
But the story's not yet done
Tomorrow's pages wait, unwritten
INTRODUCTION
As the sun sets on the day
And the night falls softly in
We close this chapter, dear reader
But the story's not yet done
Tomorrow's pages wait, unwritten
INTRODUCTION
https://twitter.com/HamadkhanMWT/status/1671936845897248772?t=O5DGH5-ckhCRItkXzz-Jcg&s=19
You spoke well on these topics, including the benefits of community curation to the development of Steemit's platform and also its users. This can increase user participation in interacting with others.
Thank you very much for this important information and wish you success in this Challenge
Greeting 🙏
Hi, Greetings . I have read your article. You shared your acknowledgement in detail and elaborate logically to justify steemit rewards in Blockchain. You did great effort m wish you good luck .
thank you so much friend for sharing your participation with us which is very authentic and most informative because you covered all parts according to the requirement and there is nothing which is lacking and I am impressed by your mark down styling as well as the most important part that you give references of your research and information that you put in your blog
You have discussed about reward system and the causes of their changes which are engagement issues between users as well as unfair system promotion as well as uneven support due to voting bot so these all were the causes due to which the modifications were necessary to made and secondly you have discussed that your preference is both type of curation because there are always merits and dismerits of everything and I agree with this thing completely
I wish you a lot of success and good luck in your participation and I have a lot of prayers for you
Hi @artist1111
You have made a detailed information about reward distribution of steemit. Convergent linear reward curve on Steemit is more effective and fair that's why it's still implies here. Community curation has more advantage in term of rewards but I prefer isolation Curation due to the freedom that it provides during curation on good quality content. Best of luck for the contest dear.
Hello brother 👋
I have just read your post. I'm very glad for you that you have explained every question very deeply and seems that you have a great knowledge about the reward system of Steemit platform. Your publication is Nicely written and very much informative.
Success to you 🤗