Steemit Crypto Academy Homework Post for @stream4u.

in SteemitCryptoAcademy4 years ago

Greetings to everyone and welcome to the second week of season 3 of steemit crypto academy.

Introduction.


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I designed this image on Snappa

I am very excited to be a part of this class as I have learnt something new. We have been given detailed information on coinmarketcap.

I would now like to present my answers to the questions asked.

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What Is Coinmarketcap.com ?


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Coinmarketcap.com is a cryptocurrency platform, network or website where detailed information about a lot of verified cryptocurrencies are listed.

These information include and not limited to the exchange platforms of these coins, background information about them, the current prices, data and charts for analysis and a lot more.

There are important features on coinmarketcap.com that is important to crypto traders.

Coinmarketcap.com can boast of providing information of more than 5000 cryptocurrency coins.

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How Coinmarketcap.com Is Useful To the Crypto User / Trader.

Coinmarketcap like I have said gives detailed information about a wide range of cryptocurrencies be it's current or former prices, a background information, exchanges it can be traded and so on.

Coinmarketcap is useful to the trader in the following ways;

  • Price of cryptocurrencies.

The Coinmarketcap is one of the trusted sites to visit when you need need know the price of a crypto asset. You are given the current price, and you can know the price the asset was few hours, days or even years ago.

With the exchanges, Coinmarketcap works with, price update is done by averaging the pricing of the assets every 5 minutes on the platform.

  • Trading volume

Trading Volume in the crypto world is the actual volume of an asset being traded on exchanges which can be found on coinmarket.

Coinmarketcap gives very good information about the trading volumes of every listed asset over 24 hours.

There are exchanges like Binance and Houbi Pro and so if an asset like steem is traded on both these platforms, the trading volume calculated in 24 hours would be the total number or amount of steem traded on both these platforms in the last 24 hours.

  • Chart Patterns.


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Everyone in the cryptocurrency world is aware that a lot of the coins we have out there are not stable and hence very volatile.

Due to this, prices usually change almost every time you log into the coinmarketcap.

The chart pattern features gives traders a chance to look at the prices of assets and it's market trend where traders can make their own market analysis.

  • Circulating supply.

Circulating supply is the supply of crypto assets on exchanges that can be traded at the time you want to trade.

This information is available so that traders can get an idea of how assets are traded.


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A screenshot showing the market cap, steem price, trading volume, circulating supply and fully diluted market cap of crypto asset steem

  • Portfolio.


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Portfolio is a feature of the coinmarketcap that allows traders to monitor the progress of their assets.

The Portfolio feature allows users to enter the amount of assets they hold for each of their assets and hence can be monitoring the progress over time.

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The Individual Page For Each Crypto Coin On Coinmarketcap.

To respond to this task, I would be delving into the steem individual page and try to explore it well.

Note that in the individual page, the headings for all the cryptocurrencies has similarities ranging from overview to price estimates.

But for the steem individual page, I would discuss, overview, market, historical data, news, socials, ratings, analysis and price estimates.

  • Overview.


steem overview.PNG

This overview side of the steem individual page provides the prices and price movement of assets in a graphical form.

There are 3 other options; price, market cap and trading view .

To have a better price chart view, you can select the period you want to analyse and would be taken to trading view to have a better graphical view where you can do the analysis.

  • Market.


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Market of the steem individual page gives detailed information on the exchanges on which the asset in question is listed and verified and also the pairs it is traded in.

  • Historical Data.


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The Historical data page gives the history of the price of the asset like steem over time.

The data is presented with dates, where the market of the asset opened for that date, it's price high, low, how it closed, trading volume and market cap.

The date range can be modified to suite what the trader wants.

  • News.


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The news section provides information where traders can read news of the crypto world.

There are 2 options here; latest news and Alexandra which gives information on various crypto subjects.

  • Socials.


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The socials page of the steem asset gives news about steem which includes tweets from @steemit and information from other socials like reddit.

  • Rating.


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The Rating section of the individual page of coinmarketcap is used to assess the "health" of the crypto asset.

For this assess of health, there are 3 factors taken into consideration; user activity, developer behavior and market maturity.

  • Analysis.


steem analysis.PNG

The analysis section gives statistics that tells us how the asset in this case steem is faring.

Unfortunately, that data isn't displayed on coinmarketcap.com

  • Price Estimates.


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This price estimated section is in beta testing but data provided are based on what is provided by users.

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5 Features Available On Coinmarketcap.com.

For this task, I would be discussing 3 core features and 2 sub features of the coin marketcap platform.

Core features;

Cryptocurrencies.


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The cryptocurrencies core feature gives information about all the cryptocurrencies added or listed on the platform.

In this core feature are sub features like ranking which tells us what rank the assets are placed, recently added which informs us on the just added coins and others like spotlight, gainers and losers, etc.

Exchanges.


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The Exchanges is a core feature which presents a list of all the listed exchanges of the coinmarketcap platform and other trading offers like Spot, Derivatives, DEX and where to buy the assets.

Search.


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The search feature allows traders to search for any assets which in turn provides the user with all the necessary information about the coin.

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Sub Features.

Ranking.


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The ranking sub core feature can be found within the cryptocurrencies core feature which shows the ranks of all the listed cryptocurrencies based on market capitalization.

BTC is number one because it has the highest market cap followed by Ethereum and Tether.

Recently Added.


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The Recently Added sub feature is also a sub feature which is within the cryptocurrencies category.

This feature gives information on the just added coins to the coinmarketcap platform with it's added details.

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How Or When Coinmarketcap.com Decides To List A Coin.

It should be noted that a coin can only be listed is by requesting for an online submission form and following a criteria.

Because coinmarketcap receives a lot of requests, priotization is done and hence the listing process is divided into sections or parts.

Section A or Application Tips.

In this section, the submittes online requested application should be complete providing well structured verifiable information with evidence.

Applications should be checked and made sure it is submitted to the right option.

In this case, an application for listing should be in the "Listing Option".

Here, 100% honesty is needed with quality data and information provided for your listing application to be considered for the next stage.

Section B or Guidelines for Tracked Listings.

These guidelines are divided into three and meeting them doesn't guarantee listing.

Because we are interested in how coins are listed, I would focus on just the guidelines for cryptoassets.

Cryptoassets.

For the crypto asset to be considered in this section, the coin tk be listed must have a consensus algorithm, should be deventealized, should be traded publicly , have a functional website and block explorer, and should be traded with at least 1 exchange on coinmarketcap.

The asset to be listed must also present a verifiable representative wiymth whom coinmarketcap cab have open communication.

Section C or Evaluation Framework.

In this section, coinmarketcap would look at the application submitted and make their own investigations into the data provided.

The purpose is to make sure that the asset is actively trading, the project is in use, to also see if the project and it's team is trustworthy and to see if the project is long term.

Listing.

Listing is grouped into 4 types;

Inactive listing.

Projects that are not actively trading on any of the listed exchanges on coinmarketcap.

Unverified listing.

These are assets or projects which have their prices displayed when searched but haven't been verified by the coinmarketcap platform.

Untracked listing.

These assets do not meet the coinmarketcap listing criteria.

Tracked listing.

These assets meet all the listing criteria.

My research was done from here.

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How Or When Coinmarketcap.com Decides To List An Exchange.

The process that an exchange must follow to be listed is almost identical to that of listing a coin .

For an exchange to be listed, it must meet the following criteria.

Application.

Just like in listing of a coin, an exchange can only be listed, when the issuer submits an online application form.

Guidelines for Tracked Listing.

The exchange must have an active website where its trading volume must correspind to its API data .

The exchange must publish a summary API endpoint that exposes the mast price and 24hour of each cryptoasset.

The exchange must be in operation for at least 6 days and must allow traders to place buy and sell orders on an order book but DEXs with no order book data will be evaluated on a case by case basis.

The exchange must allow users to view all market pairs without logging into the website.

The exchange should be able to present a trustworthy representative for open communication.

Evaluation.

Over here, coinmarketcap seeks to verify all the information provided to be sure that the data is correct.

The team of the exchange is investigated as well.

Listing.

Should the exchange meet all the requirements of coinmarketcap, it is granted a tracked list and therefore listed ok coinmarketcap.

My research was done here.

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The Purpose Of The Uniswap Feature On Coinmarketcap.com And How It Is Used.

First of all, Uniswap is a decentralized exchange that runs on Ethereum blockchain and allows users to swap ERC-20 tokens and also allows users to act as liquidity providers.

Uniswap is a feature on coinmarketcap that allows users to have a fast, reliable and safe swap of ERC-20 tokens to other tokens of choice which requires no verification.

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How To Use Uniswap and Connect To Wallet.

Step 1: Locate the swap button at the bottom of the Coinmarketcap.com homepage and click on it.


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Step 2: Click on connect wallet.


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Step 3: Select wallet of choice. Because I already have Metamask extension on my PC, I connected the uniswap to my metamask wallet.

Step 4: The extension was opened where I keyed in my password and clicked on unlock.


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Step 5: The metamask unlocked and was connected to uniswap. Click on swap to open the next page.


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Step 6: On the page, I selected ETH and UNI because I was swapping ETH for UNI.


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Step 7: I entered 5 ETH and click the review swap button.

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I could not proceed because of insufficient balance.

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What Is Block Explorer, Information Available Under Blockchain Explorer On Coinmarketcap And How It Helps Users.

What Is Blockchain Explorer ?

Blockchain Explorer is a software that uses API and blockchain nodes to collect several data from a blockchain and process the raw data into searchable data or transactions for users.

Information That Can Be Seen On The Explorer.

  • Transaction volume,

  • Price,

  • Number of transactions in a day,

  • Latest blocks,

  • Address involved in transactions,

  • Types of transactions,

  • Hash rate,

  • Value of transactions, among others.

How Many Blockchain Explorer Is Available On Coinmarketcap.com ?

On Coinmarketcap.com, there are 4 blockchain explorers.


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  • Bitcoin,
  • Ethereum,
  • Litecoin and
  • Binance coin.

How To Use Binance Coin Explorer On Coinmarketcap.

To use Binance Coin Explorer on coinmarketcap.com , you must first select one of the 4 blocks.

In my case I would be exploring Litecoin.

Step 1: I scrolled down the homepage of blockchain Explorer and selected the 3 dots beside litecoin.


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Step 2: I selected view blocks first and the data was displayed.


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Step 3: I went back and selected view transactions to view the transactions.


coin litecoin transactions.PNG

Step 4: I switched to view market data and litecoin market data was displayed.


coin litecoin market.PNG

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Conclusion.

I must say a big thank you to prof @stream4u for giving us this very informative lecture because I have learnt so much about coinmarketcap.com.

Coinmarketcap.com provides all necessary details all the cryptocurrencies it has listed, exchanges and markets as well.

I explored a lot of features like the cryptocurrencies which allows us to know all the cryptocurrencies on the platform, the ones that have recently been added and other features like portfolio that allows us to keep an eye on our assets.

I researched and learnt about what it takes to get exchanges and coins listed on the coinmarketcap.com and also leant how to connect uniswap to metamask wallet.

Lastly, I learnt about the coinmarketcap blockexplorer and explored the details of litecoin.

Thank you.

Sort:  

Hi @chenty

Thank you for joining The Steemit Crypto Academy Courses and participated in the Homework Task.

Review Visit Level
Task Remark
Comment
Guidance, Feedback, Suggestions
Grade
Verification (Done, Hold)
First
Completed
Provided information are explained well. You explained SWAP and Blockchain Explorer very well. You provided a screenshot according to the information which is good. But expected to explore more in detail about the individual page section and its features like News, Social, Analysis here you could be tried to explore it in more detail and show how these options are useful for the crypto users, what crypto users can do with the help of these options details
Overall you did well but, try to be more informative and provide all possible details.
7
Done

Your Homework Task verification has been done by @Stream4u, hope you have enjoyed and learned something new.

Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy
#affable

 4 years ago 

Thank you for your review prof. I did talk about features like news, social and analysis but I would try to provide details in your subsequent tasks.

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