Hello everyone, hope you are all doing great. I welcome you all to my seventh homework task provided by @sapwood. Thanks to @steemitblog for this awesome initiative.

• As most of the STEEM tokens will be minted in the next 10 years or so(on account of inflation), how important it is for you to build your SP in the next 10 years and build significant influence power in the form of SP?

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Steemit is a great platform where both curators and authors are rewarded by steem token. The steem token distribution is done based on DPoS(Delegated Proof of Stake). The more steem power you own, then you have more influence on the stem ecosystem. Usually, the SP holder receives 15% of the minted token in proportion to the ratio of the amount of SP they hold. Though the 15% rewards to the SP holder remain constant. It depends on some factors too. It is directly proportional to supply and inflation rate. The increased in steem supply causes decreases in the inflation rate. As a result, inflation causes a reduction in the steem rewards to the SP holders. Again, over the next 10 years, about 43.98 million Steem will be distributed to the SP holders as a proportion of SP they hold. So, we can see the importance of building SP to a significant amount in order to get a significant portion of 43.98 million steem that will be distributed to the SP holders.

• How difficult will it be to earn STEEM rewards after 2031?

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From this chart provided by @sapwood that, the steem token minted per block will gradually increase till 2031. After 2031,the steem token minted per block will gradually decrease. in stead of increasing. That means, it will be harder to earn steem rewards then. Users will need to buy steem from other sources for powering up due to scarcity. Hence it will be very difficult to earn rewards after 2031.

• From 2021 to 2031 how many STEEM tokens are going to be minted(approx)?

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From the chart,

The virtual supply on 2021 = 391,804,970.0 STEEM
The virtual supply on 2031 = 685,011,397.3 STEEM

=> Difference = 685,011,397.3 - 391,804,970 = 293,206,427.3 STEEM.

That means, approx. 293,206,427.3 STEEM Tokens are going to be minted.

• In which year the inflation and Block reward is likely to saturate(tentatively)?

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From this chart provided by @sapwood we can notice that, the block rewards(around 0.7 STEEM per Block) and inflation rates(0.95%) will be saturated(almost same rate) in 2037.

• Who is your recovery account in Steem, how do you check it?

a. In order to check my recovery account in steem, I visited https://steemscan.com. In the top section, there exist a search bar. I entered my account name and then clicked "enter".

b. It will take to my account details. In the profile section, I can see my recovery account. In my case, it's steemit.inc.

• In the case of any unforeseen event like hacking what information do you provide to the recovery account(or the trusted account) to initiate the recovery process?

In order to initiate the account recovery process, I need to provide my latest keys & password to my trusted account. With all these information, the trustee account can generate a new owner key that match with my last owner key before hacked.

• How do you send an encrypted message(private message) to another peer in Steem Blockchain?

At first, I login to https://steemitwallet.com. And , then logged in using the Master Password. Then, I clicked on Transfer. Enter "@dummyaccount" as an example in the "To" field and set the amount I want to transfer. In order to send an encrypted message(private message), I just add "#" before my message in the memo section. Then, click on "Next". After verifying all the information, I clicked on "ON".

I can see the memo.

Other cant see.

• Which key is required to send a private message and which key is required to decrypt it?

In order to send a private message, I need to use the Master Password. On the other side, both master password and Memo key can be used to decrypt the private message. Mostly, memo key is preferable here.