CryptoAcademy Season3 ; Beginner's Course|| TASK 1- STEEM & TRON
Hello cryptoworld,
Its another week,and i am very delighted to be a part of the cryptoacademy. Special thanks to @sapwood for the simple and straightforward lecture. Below is my assignment.
(1) 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?
Proof of Brain (POB) is a type of algorithm used on Steemit to reward content creators' efforts. PoB is an incentive for good posts because every good and quality post based on an individual knowledge is rewarded. On each post, the prize is split 50/50 between content authors and curators, and it is paid out 7 days after the content is posted.
The reward fund is used to reward users, with curators and content creators receiving 65 percent of the POB. This fund is activated owing to the curators' voting knowledge, which is used to search for and locate content that adds value to the ecosystem, and the coins are divided in this way.
What does curation mean to you in Steem Blockchain?
For me, Steemit curation is one of the coolest ways to reward people's original work, even if it isn't always equitable due to the large amount of content to be curated; it's a way to reward people for adding value to the ecosystem; when I first joined Steemit, I had no idea how it all worked, but now I can explain it in a simple way.
When high-quality content is created and shared on this platform, it is vetted and upvoted, rewarding the content creators and curators. Curation on the Steemit Blockchain preserves valuable content so that other members of the steemitiz community can see it as well.
Each user has a certain number of resources; for example, our voting value starts at 0%, but as we create content, vote, and comment on other publications, we gain Steem power or SP, which allows us to have more and more impact on the platform, and our voting value gradually increases.However, we can also look for valuable content, investigate its originality, and vote for it, sharing it so that it is curated in a group way by your followers, allowing it to be called curated content when it is voted by a group of people, and it must meet our criteria of adding value to the platform.
What are the benefits of building SP?
In the Steemit Blockchain, SteemPower(SP) represents each member's power or influence level. SBD, TRX, and SP are awarded for every good post on Steemit.
Benefits;
•BETTER RESULTS
With a high SP, you can receive 10% of the total reward pool as well as 32.5 percent of the reward pool when curating content.
•INFLUENCE
With a high Steemit SP level, a user gains greater power and influence in the community, as the person has more say over the creation and maintenance of this decentralized blockchain. With more SP, a member can have a greater influence on the content of other users, since you can curate their work. You can also have an impact on how PoB is distributed in the community.
•VOTING RIGHTS
When curating a piece of content, users with more SP have more voting power.
For all of these advantages, we must build our Steem Power so that we may have more influence in the community and receive more rewards for curating content and acquiring new interests.
How do you explain self-upvote as a good or bad social behavior & why?
Self-upvoting is a poor social habit that can cause a group to crumble rather than grow.
Self-upvote simply means that you reward your own article. Self-upvoting, in my opinion, is a terrible social habit.
Upvoting your own post won't help you because you won't know if you wrote a decent article or if you're developing your content creation skills.
Self-upvoting restricts the distribution of rewards in the community and can create a barrier to interaction, whereas Steemit is a community that connects individuals.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM (screenshot required)?
When looking for STEEM on Coinmarketcap.com, first search for Coinmarketcap.com in your browser and then click on it.
It will send you to coinmarketcap.com's home page, where you can search for STEEM using the search term.
To learn more about STEEM on the crypto market, click on the STEEM emblem.
STEEM screenshots from coinmarketcap.com
As seen in the screenshots above, as at the time of doing this assignment;
Steem price - $0.2544
Market rank -#197
Volume/ market cap - 0.03104
What are the different tokens you earn by socializing in Steem Blockchain?
When Steemit first launched, the tokens that could be obtained by socializing were SBD, STEEM, and SP, with STEEM being the platform's liquid currency. However, with the formation of an alliance between Justin Sun and Steemit, the TRX token was added to the platform, and now, in addition to the natural tokens that are received in Steemit, we can also add the TRX or TRON currency to our wallet.
•STEEM
This is Steemit's main token, as well as the Blockchain's liquid cryptocurrency. This token can be traded and exchanged on the cryptocurrency market.
•STEEM DOLLAR (SBD)
This currency can also be obtained here, and it can be traded on the crypto market and converted into STEEM and SP.
•STEEM POWER(SP) is a token that you can earn by socializing on the Steemit platform. It represents how much power you have on the platform. You get more power and influence as you acquire more SP.
•TRON(TRX) is another blockchain-based token. By sharing good information and leaving comments on other people's posts, we earn TRX.
Conclusion
Users who publish good, quality, and original content of a content creator are rewarded with PoB, and curators are rewarded as well. In the Steemit Blockchain, SP represents a user's level of influence; the more SP you have, the more power and influence you have in the community. You can become a whale in the Steemit community and the crypto-world at large by increasing your SP. The more high-quality posts you publish on this platform, the better.
Steemit is a fantastic platform that allows you to earn money by creating and sharing original content. Now that we have this integration between Steem and tron, it's even better because we have a lot more investment options in the cryptocurrency market because they're exchangeable on a lot of exchanges.
cc;
@sapwood