Crypto Academy Season 3 Beginners' course - Homework Task 1 : [STEEM & TRON]

chairulrizalx (64)Beginner[1,2,3,4,5,6,7,8,10]in SteemitCryptoAcademy • 3 years ago

^{Source edit with Adobe Illustrator CC 2017}

Hello Steemian

My name is Chairul Rizal @chairulrizalx and today I will be doing homework from @sapwood about Crypto Academy Task 1: STEEM & TRON

(2) Explain the difference between [SP, STEEM, SBD] & [TRX, TRC10, TRC20 tokens] (with examples) ? Explore Coinmarketcap.com to indicate the rank, coinmarketcap, and circulating supply of STEEM and TRX? Which exchange are your familiar with where both of STEEM and TRX are listed? Does it cost any fee for transacting STEEM and TRX? How important is the use of Memo while transferring STEEM from Steemitwallet to an Exchange wallet, do you essentially need a similar memo for transferring STEEM from exchange wallet to your Steemit wallet?

Difference Between [STEEM, SP, SBD] & [TRX, TRC10, TRC20 tokens] (with examples)

^Steem

Steem is a blockchain-based cryptocurrency released in 2016 that provides support to the community through the steemit.com platform by making subjective contributions that will be rewarded with Steem. A few years after its release Steem has grown steadily while still providing support for the Steemit community around the world, similar to social media such as instagram or facebook, steem also includes a voting system to present the most interesting content to other steemit users. Steemit provides curation to users not only with steem, steem dollars and tron also enliven the crypto currencies available on the steemit platform.

^SBD

Steem Dollars (SBD) is a cryptocurrency that is easily found on the steemit platform, SBD is one of the stable coins that promises a price that is equal to or exceeds the price of 1$USD. Steem Dollars also functions as a crypto currency that competes with Steem and can make Steem even more volatile, if the price of Steem goes down SBD will benefit more especially for Steemit platform users to convert SBD and get more Steem.

^{edited with Paint}

Steem Power (SP) is used to give a boost of strength when choosing posts to vote for, when making posts and voting on steemit, one of the rewards that will be received is Steem Power. to add voting power can be done by means of power up Steem, the meaning of the power up is to change Steem into Steem Power. the more SP we get will give more strong influence to the voting we give.

^Tron

Tron (TRX) is a cryptocurrency and entertainment platform originating from Singapore, Tron is decentralized peer-to-peer on a blockchain system. By using Tron transparency becomes even clearer unlike large platforms that use users' personal data without permission. TRX is a coin owned by Tron that can be traded on more than 50 cryptocurrency exchange markets including Bitfinex, hitBTC, Binance, Poloniex, Upbit and Bittrex. For the Indonesian exchange, TRX is available on Indodax and UpbitIndonesia. TRX coin uses the Tron network to create custom tokens like TRC20 and TRC10. TRC10 is more popular because it offers an easier blockchain system for the development process, TRC20 uses Tron Virtual Machine(TVM) for implementation which makes TRC20 work better than TRC10 from a technical and functional point of view, which are also compatible with Ethereum's ERC20 token.

Explore Coinmarketcap.com to indicate the rank, coinmarketcap, and circulating supply of STEEM and TRX

^website

coinmarketcap.com is a website that provides information about the activity of cryptocurrencies in real time but we cannot sell or buy. There is a lot of information about blockchain tokens, including knowing the latest price details by category and prices on other cryptocurrency exchange markets.

^{Top 5 Cryptocurrency on coinmarketcap.com}

STEEM Rating and Supply

^{Ranking and Circaculating Supply of STEEM}

When I made this post and went to coinmarketcap.com and saw the information about STEEM, the result shown was that Steem was ranked #179 with the lowest price of $0.3465 and the last price of $0.3741 fully diluted market cap of $153,301,021. Circaculating Supply 391,813,102.20 STEEM and total supply 408,787,196.

TRX Rating and Supply

^{Ranking and Circaculating Supply of TRON (TRX)}

When I made this post and went to coinmarketcap.com and saw information about TRON (TRX), the result shown was Tron (TRX) was ranked #25 with the lowest price of $0.06373 and the last price of $0.06691 fully diluted market cap of $6,754,605,681. Circaculating Supply 71.66B TRX and total supply 100,850,743,812.

Which exchange are your familiar with where both of STEEM and TRX are listed

STEEM Exchange that i used

^{Steem market on Upbit}

I use Upbit Indonesia to exchange Steem, I think Upbit is easy to use and the display of information in it is very complex for those of us who want to trade. Upbit Indonesia makes it easy for me because it contains price information based on the rupiah currency in accordance with the currency of the country where I live.

Tron(TRX) Exchange that i used

^{Upbit and Indodax that i used to exchange Tron}
I usually use Upbit Indonesia and Indodax to exchange Tron (TRX), I think Upbitand Indodax is easy to use and the display of information in it is very complex for those of us who want to trade. Upbit Indonesia and Indodax makes it easy for me because it contains price information based on the rupiah currency in accordance with the currency of the country where I live.

Does it cost any fee for transacting STEEM and TRX

^{Steemitwallet menu @chairulrizalx}

Every Steem/Tron transaction made on Steemit will not be charged a fee, although sending a large amount of Steem/Tron from Steemit to another exchange wallet will not take a fee. For the steemit community, this is very beneficial for them because we can do Steem/Trx transactions without being afraid to pay more for fees.

How important is the use of Memo while transferring STEEM from Steemitwallet to an Exchange wallet, do you essentially need a similar memo for transferring STEEM from exchange wallet to your Steemit wallet?

Memos are important when we are going to make transactions in the Steemit wallet. Memo on the wallet menu is useful for conveying information from the sender to the recipient in order to know the purpose of the transaction being carried out, it can also be used as specific information to distinguish one transaction from another. Public memos are advised not to provide personal information or other sensitive important data.

Conclusion

The conclusion of learning about Steem & Tron;

Steem is a blockchain-based digital currency that emerged in 2016 and has a large community on the steemit platform.
Tron is a cryptocurrency and entertainment platform originating from Singapore, Tron is decentralized peer-to-peer on a blockchain system.
Steem and Tron in 2020 decided to form a partnership and work together to unify the Steem blockchain and the Tron network, one of which can be seen on the steemit platform.

Professor @sapwood here's my homework Crypto Academy Task 1 : STEEM & TRON.