Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [Steem and Tron by Sapwood] wriiten by @benton3

in SteemitCryptoAcademy3 years ago

Hello friends, good to be back for cryptoacademy. Today, I am doing one of the assignment of the beginners level Task 1: STEEM & TRON by @sapwood

(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?

The proof of Brain is a reward structure in steemit where people who contribute to the steemit ecosystem through creation of original content are being rewarded. There is a reward pool which Is a pool of tokens reseerved exclusively for rewarding content creation and curators through a voting system which uses the wisdom of the crowd in assessing good or bad contents. 65% of the total tokens in the reward pool are dedicated to incentivizing of content creators and curators. This process totally eradicates plagiarism within the steemit ecosystem. Through this means, the mother coin steem is distributed to various holders.

What does curation mean to you in Steem Blockchain?

Curation is the process by which the work of content creators are checked and voted. Normally this involves a number of steps. The content is identified and sought out, read by the curator, ensure that the content is free from plagiarism, then upvoting it, using his voting power and effective steem power. Then in some cases resteeming the post.
Like I mentioned earlier, steempower is the basic thing needed by an individual to curate a content. The more steempower a person has, the more voting power he has too. Thus we can say that steemit is the business of steem power.

There are three ways steempower can be acquired.

  1. By creating original content and being curated by others. This gives you a share of the token from the reward pool. This could be accumulated overtime and your steempower will increase, giving you more curating influence in the steemit ecosystem.
  2. The second way is by investing, by buying the steem coin and powering up to steem power. This will also automatically increase your steem power and influence in the steemit community.
  3. By curating other people original and quality content. Like I said in the POB, both content creators and curators get this reward from the reward pool. So through this means, a person can gradually accumulate steem power.

What are the benefits of building SP?

The benefits of building my SP are as follows

  1. Earning of 10% interest of the total reward pool
  2. When I have a bigger SP, I will earn more SP in curation and therefore more Tron in curation
  3. Have a higher influence in the distribution of POB rewards
  4. I will have a greater voting power during curation
  5. I will also command more influence within the community thereby earning more follower base.
  6. I can actively participate in blockchain governance.
  7. I can also be a force for community building.

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

Self Upvote is when an individual upvotes his own post or comments using his steemit account to do so. Self-upvote is is a bad social habit or behaviour because it defeats the objective of steemit being a decentralized social media and educational platform. Apart from that too, the steemit ecosystem encourages originality and quality contents which could only be determined by other curators within the system. In the long run, a person engaging self-upvoting is only hurting himself more, since he can not learn any new thing from the comments of others and world not even earn more, as he will only be restricted to the little his own votes earn him. Additionally since he does not engage others, he will receive little or no votes from others, thereby self isolating himself. So Self-upvote to me, is a sign of being self-centered and selfish.

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

20210624_010529.jpg

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

There are four different token earned by socializing on steemit. These are

  1. Steem – which is the Liquid crypto currency earned on this platform
  2. SBD – Steem Based Dollar- This is a stable coin for the steemit ecosystem
  3. Steem power(SP) – This is the equivalent of steem but locked or staked form, thereby earning interest for the holder and giving you more influence in the community
  4. Tron coin – Just recently added as part of the earnings. For every One SP earned, you will also earn one Tron.

Thank you all for going through my post.

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