Steemit Crypto Academy Homework Task 5 : Steem Blockchain(PoB, Voting Window, Curation) @sapwood
Hello, Everyone
I am really glad to be enlightened more on what voting and curation really entail all thanks to professor @sapwood lecture on Steem Blockchain(PoB, Voting Window, Curation)
I always had the notion that voting within 5mins to 6days 12 hours age of a post was the only way to maximize curation rewards but this lecture gives us an in-depth explanation of the subject matter.
What will happen if you vote before "5 mins age of a post" & after "6 days 12 hrs age of post" in Steem Blockchain?
Voting is done by distributing a portion of their Steem Power from the reward pool to the author.
If you vote during the first 5 mins age of a post then you lose a certain percentage of the curation reward.
- At the first minute, the curator receives 20% out of 100% of the 50% earned by curators.
- At 2 mins age of a post, the curator receives 40%
- AT 3mins age of a post, the curator receives 60%
- At 4 mins age of a post, the curator receives 80%
The remaining reward percentage at each time interval returns to the reward pool.
After 6days 12hours of the age of a post, the upvote worth starts decreasing at a linear rate and becomes zero at 7days.
- At 6days 15hrs of a post, the curator receives 75%
- At 6days 18hrs age of a post, the curator receives 50%
- At 6gays 21hrs age of a post, the curator receives 25%
- At 7days age of a post, nothing is earned by the curator
Though the general voting window is considered to be 5 mins to 6 Days 12 hrs age of a post, advanced curators still vote within 1-4mins age of a post in potentially highly popular content to compete against other curators & earn significant curation rewards.
Even if you lose a 20% curation reward by voting at 4 mins, being an early voter in a trending post can fetch you a significant curation reward.
My Experience
Since my present in Steemit Community, I have never voted within the first 5mins minutes of a post as I was told by my mentor @njaywan that it wasn't entirely profitable.
As can be seen in the screenshot below, my votes are always within the 5mins to 6days 12hrs age period.
How do I check how much reward of a post has returned to the reward pool in Steem Blockchain?
Check how much reward has returned to the reward pool:
First go to SteemWorld.org
At the homepage, select Dashboard from the list of Steem Blockchain Tools
Enter your username at the Switch Account bar to load your account
Navigate to Posts and select any post to view the Payout Return on that post.
Under what circumstances a curator can earn more than 100% upvote value as curation rewards?
In order to earn more than 100% upvote value as a curation reward, the curator should be amongst the first users to vote a significant amount on a high trending post within the 1 to 6days 12hrs age of a post before a whale casts his/her vote on the same post
Let's take a look at this post by @justyy
From the above screenshots, @mermaidvampire was the first to vote at t= 3m 21s,
∆t= 3/5=0.6
Pt=38.24
P1=$0.05
P0= $0
From the formula 1/2√Pt(√P1-√P0)∆t
Pcurator= (0.5) * (√38.24) * (√0.05-√0)= $0.41
So (0.4/0.05)*100 gives 800% curation reward
Pick any random post you have voted in Steem Blockchain and indicate the time and position of your voting, what is the projected curation reward?
Here is a post by @njaywan which I voted on
I was the 49th voter. I voted 100% with a vote weight of 0.01$
For this post, the current Total payout(Pt)= $39.53, Post payout after voting(P1)=$37.43 Post payout before voting(P0 )= $37.42 ∆t=1
so Pcurator=0.5* √39.53(√37.43 - √37.42) *1
estimated Pcurator= $0.0026
From the above post screenshotted,
I voted on the post after 11hrs 59mins 9secs
Weight of Vote: 100%
Value when Voted: 0.01$
Expected Curation reward: 0.008 SP
Vote Efficiency: 8.36%
What is the role of curation in better content discovery in Steem Blockchain?
The curation task plays a vital role in the discovery of quality content. Finding out, exploring, and organizing all curated content give rise to Content Discovery.
Better Content discovery literally means that the best/original/relevant content is voted to the top of the trending list.
Posts that are deemed relevant or of good quality are added to the trending list of the Steemit Blockchain.
It is therefore pivotal for curators to perform several verifications on content before curating it in a recommendation to other community users.
Cc: @steemcurator01
Cc: @steemcurator02
Cc: @steemitblog
Cc: @sapwood