Crypto Academy Season 3 Beginners' Course Task 1: STEEM & TRON by @blayforson
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 in short (PoB) is way of distributing rewards to content creators and curators in steemit blockchain. The reward pool is basically based on 100% originality of one's good content or post created. Again, PoB rewards are awarded to users who created content that add value and development to the community with their own knowledge about a particular subject or topic (ie educative content). PoB implores critical thinking and reasoning. Proof-of-brain also entails creativity.
In the distribution of the rewards pool, content creators and curators receives 65% of the rewards. Thus, 50% of the shared goes to the author while the other 50% is shared between the curators according to individual steem power and the time they cast their vote. The other 35% of the beneficiary rewards are shared to the following people;
- witness 10%
- steem DAO 10%
- vested SP holders 15%
meaning of curation to me
In steemit blockchain, curation simply means voting. This is done by reading a publication to check if the content does not contain plagiarized or spam words, how valuable the content is(ie if it can add value to the community or the ecosystem or not), again, the originality of the content.
After checking all this things, one can give appreciation comments, resteem it in order to benefit your followers or people who visit your blog.
Finally, support the content or post by upvoting with your vote power or steem power.
benefit of building sp
Building SP is very necessary because it has more influence in steemit ecosystem. Again, it is a form of investment which helps in development of the communities.
Well, these are some of the benefits of building SP :
- Building SP help users to accumulate more effective vote percentage power to vote which help in the growth of communities and newbies.
- Building SP add or generate influence and value to one's account.
- Building SP help to accumulate more trons due to the integration of the TRX to the steemit wallet.
(1SP :1TRX). - Building SP is a sign of how consistent and serious a user is and with the sense of curating.
- Building SP help users to benefit some profit (curation rewards).
self upvote
It is seriously a bad social behaviour; this is because steemit is a decentralized platform where users have the opportunity to either upvote or downvote a post, so one doesn't have to rush to upvote his or her own post. Self upvote is a situation where content creator upvotes his or her own own content after publishing it.
For my understanding, self upvote doesn't support the PoB system since the content have not been read by the members of the community to see how valuable, originality the post is and if to be either upvote or downvote if plagiarized.
Self upvote doesn't help to build or develop community and again, it doesn't create socialization in community.
Though, steemit allows not more than 10% of self upvote but I can see it is still not a good social behaviour.
exploring coinmarketcap.com
From the above screenshot;
- rank: #195
- steem price: $0.2412
- market cap: $96.8M
- 24h volume: 1.79M
- tot supply: 418.77M
- circ supply: 401.8M
different tokens that we earn by socializing on steemit blockchain
Well, there are four different tokens that we earn in steemit blockchain. These are as follows;
- steem (steem)
- steem power (SP)
- steem dollar (SBD)
- tron (TRX)
Steem
This is the main or native token that we earn in steemit blockchain.
Steem Power
This is earned by creating and curating contents and how influence one have in the steemit ecosystem.
Steem Dollar
This is stable currency at 1USD but have greater value than 1USD when exchanged.
Tron
This is cryptocurrency that we earn in steemit blockchain. Also it the main token of the tron network. Because of the integration of the TRX to the steemit wallet, users are rewarded with TRX at the ratio of 1SP : 1TRX.
Tokens Earned by Creating Content
- Authors earn SBD +SP if the debt ratio is below 9%.
- Authors earn steem + SP if the debt ratio is above 10%.
- Authors earn steem + SBD+ SP if the indebtedness ratio is between 9% and 10%.
Tokens Earned by Curators.
For curators, users only earn SP and it is equivalent to 1SP:1TRX ratio.
Conclusion
To conclude, I will say that steemit is a blockchain platform that rewards it users with some tokens by using the PoB system. It is again a great platform that enables one to improve in his or her reasoning and writing skills.
Big thank to @sapword for his amazing lectures.