Steemit Crypto Academy Contest / S10W5 -: Getting to know Mvest
Hello everyone, I hope you all are doing well & enjoying your happy & healthy life. I am here to share my participation in the steemit engagement challenge season 10 week 5. As always steemit crypto academy contest provides us with more knowledge about steemit and cryptocurrencies. So, today's contest topic is also related to steemit & Steem's power. I will share my little knowledge about this week's topic.
Mvest (Million Vest) is the measurement unit of Steem power on the steemit blockchain. Steemit is a decentralized platform where we get rewards in the form of Steem, Steem, TRX, and Steem dollar. All these are the rewards that we get after sharing our content on steemit and we are the owners of all these assets. We can convert Steem into Steem power & increase our ownership of steemit.
As we know Mvest is the unit of measurement of Steem power so, so if we increase our Steem power our Mvest will also increase will directly increase our ownership, & influence on steemit. Mvest is equal to one million vests. As we increase our Steem power Mvest will also increase which increase our influence, voting power, and ownership on the steemit platform.
Contrarily, if someone is powering down or powering up less Steem & withdraws more then their Steem power will decrease, Mvest will also decrease & they have less voting power, influence & ownership of steemit. Therefore, if anyone wants to increase their Mvest on steemit they must increase their Steem power by continuously powering up.
Mvest and Steem are the terms that are linked to each other. Mvest is the unit of measurement of Steem power and by increasing it user's influence will increase on steemit, on the other hand, Steem is the token or asset on steemit that we earn as a reward on the steemit platform. Both Steem and Mvest influence the steemit platform.
When we earn more steems, we will get more steem power which will increase Mvest. We can check the amount of Vest earned on each Steem power by market & it varies depending upon the crypto market trend and Steem tokens.
We can check the vest we earned on each Steem power by 2 sites Steemworld.org & https://steemdb.io//. Here we can check first through Steemworld.org. First, open Steemworld and then click on the dashboard. Click on the delegations where we see the icon delegate. By clicking on delegate, add the amount of steem power which we want to calculate.
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As shown in picture 1 Steem power is equal to 1758.538437. Here we calculate the Mvest by dividing the calculated value by 1 million.
1 Mvest= 1,000,000 /1758.538437
1 Mvest = 568.6540475657513
1 Mvest = 568.654
For validation of this calculated value, we can check through both sites. For checking through Steemworld click on the market info and on the last bottom icon we can check the calculated value of Mvest per Steem on steemit.
https://steemworld.org/@ashkhan
Here we can also check through https://steemdb.io// in the given below screenshot. Simply open the site and on the main page, you can see the amount of Mvest per Steem.
I have clearly shown & demonstrate the relationship between Steem and Mvest. The value on https://steemdb.io// can vary so we should prefer to validate through Steemworld.
As I already mention the steps of calculating the amount of Vest per Steem power. log in to steemworld.org and then click on the dashboard icon. Click on delegations icon and open the delegate. Add the amount of Steem power to my account and then divided it by 1 million or by 568.654 Mvest per SP.
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Steem power = 12,214.91
Total SP Vests = 21,480,386.403130
Mvest = 21,480,386.403130/568.654
Or
Mvest = 21,480,386.403130/1,000,000
Mvest = 21.478 ~21.48
So, my account has 21.48 Mvest.
We can also validate these calculations by checking them through Steemworld.org. Login to Steemworld and open your dashboard. Click on the balances you can see the vesting shares in your account and the amount of Mvest in your account.
https://steemworld.org/@ashkhan
We can use the same method as shown above. First, we will check the amount of Vests in 35,000 Steem power through delegations. Then calculate the values of Mvest by dividing the Vests by 1 million Vests.
Hence the 35,000 Steem power is equal to 61,548,763.932374 Vests. So, here we do the calculations
Mvest = 61,548,763.932374/1,000,000
Mvest= 61.548763932374
Mvest = 61.55
Hence we calculated that 35,000 Steem power is equal to 61.55 Mvest.
Greetings my dear friend! How are you ? Good to see your post here . In this post you are very clear about the concept of Vests , MVests and steem power.
Yes , there us a good option for us to supporting powering up day by day. Becuse the more we sp the more we have MVest and MVest automatically show the influence of user.
Thanks for this beautiful post. Good luck with the contest.
With great emotion we notify you that this article has been curated by @alejos7ven, member of team #2 at 30%. Your content is amazing, keep working hard to opt for the weekly top.
Your post is very well presented. You have covered many important topics in this post and shown everything in screenshots. Very nice discussion about Mvest. So good luck to you in the contest.
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
That's correct! Steem power plays a crucial role on the Steemit platform, as it represents a user's influence and ownership. By converting rewards into Steem power, users can enhance their impact and engagement within the Steemit community.
Hello dear friend, greetings to you. Hope you are doing well and enjoying the best moments of your life.
This is quite true. MV is the measurement unit of one's steem power in Steemit. In simple words it show your liquid steem you have used to power up your account. MV works to increase the influence of your account.
Well managed post. It really impress me.
Best wishes for the contest.
Hello brother 👋
Just read your publication and I'm very glad to see that your post is very well presented and right according to the requirements of the challenge about Mvest. I really appreciate your views about that challenge.
Best regards 😃
sister first of all I want to say thanks to you that you give your precious time in reading and searching about the required topic of Crypto academy and this topic is very interesting as well as very important for all of us to understand it because it is very common topic
You have made an excellent effort in which you tell about the definition of Mvest as well as in the second question you also explain very well about the relationship between steem power and Mvest if I talk about calculations then all these calculations and your way of calculating things are true and it is really appreciating
I am hopeful that in your future you will be very bright and you would be able to produce more good content day by day and with all these wishes I want to say Good luck to you in your entry
Es correcto, Mvest es la unidad de medida del poder de Steem y mientras hagamos encendidos, aumentamos en poder y también aumenta nuestro Mvest.
Que buena entrada ha realizado, pudo abarcar y responder con mucha claridad todos y cada uno de lo exigido. Nos mostró las relación del Mvest con el Steem y me gustó mucho. Usted demostró que realmente le agradó el tema y eso es fantástico. Me alegro que haya aceptado el desafío 👍
Le deseo éxito y bendiciones 🙌
Gracias por compartir.