Steemit Crypto Academy - Week 6 - Homework Post for @yohan2on

Hello awesome people, how is everyone doing today, hope everyone is having a great week. Super excited for this new week and to be part of this amazing lecture and to partake on this week 6 course. I’m really enjoying and having a great time on this lecture and for me, it is always a great medium to learn more and more and to expand my knowledge and understanding on topics relating to blockchain and cryptocurrency. We are in week 6 and this week’s topic covers stable coins … In this post, I will be sharing my knowledge on one of the popular stable coins out there… We all know how amazing stable coins are as far as cryptocurrency is concerned, so in this post, I will be writing about one of the stable coins.

Steem Dollar (SBD)

Steem dollar or SBD for short is one of the popular stable coins on the steem blockchain. At the moment, there are a number of stable coins out there operating on different blockchain networks offering their own usescases and benefits. Talking of the steem blockchain… the steem blockchain at its foundation is a social media blockchain platform that was founded in 2016 and it is the blockchain that powers the steemit platform which is the website or frontend user interface for blogging activities and a platform for interacting with the steem blockchain. Users earn rewards for blogging and sharing and curating contents on steemit and steem blockchain. SBD is one of the tokens of the steem blockchain and is used as a reward for creating contents on the steem blockchain.

Steem Dollars or SBD are one of the liquid stable-value token of the steem blockchain that was designed to be pegged to $1 USD. SBD is a tradable token and can be transferred to other accounts on the steem blockchain. SBD cannot be directly powered up as steem power and must be converted or exchanged to steem before it can be powered up as steem power. The internal market can be used to exchange SBD to Steem.

SBD Reward

SBD is one of the tokens on steem blockchain used for rewarding content creators for creating contents on the steem blockchain. To earn SBD all you need to do is write write and publish good contents on the steem blockchain and when your post is voted by curators and other users, you get rewarded in SBD depending on your settings. If you set your earning to be 50% SBD and 50% SP, it means that you will earn 50% of the total amount your post receives after 50% curation rewards have be given to curators, in SBD and the other 50 will be paid out as Steem Power. Your earned SBD token can be traded on exchanges, transferred to other accounts or exchanged to steem to hold or power up as steem power.

Transferring SBD to other Accounts on Steem Blockchain

To transfer SBD to other accounts on the steem blockchain,

1. First go to your wallet page, locate Steem Dollars,
2. Click on the drop down arrow beside the amount,
3. Click on transfer,
4. Your username is automatically filled and cannot be changed,
5. Correctly input the username of the account you want to send SBD to,
6. Input the amount of SBD you want to send,
7. Memo is optional
8. Click on the Next button,
9. Confirm transfer and click on OK botton to send.

SBD Current Chart

[Screenshot from coinmarketcap]

SBD Supply Statistics

Based on the current statistics on the coinmarketcap website, SBD has a current martketcap of $42,803,870.93, Circulating Supply of 6,359,119 SBD, Total Supply of 6,359,119 SBD and no Max supply data.

[Screenshot from coinmarketcap]

SBD Markets/Exchanges

SBD is currently listed on a number of exchanges… the screenshot shows the different exchanges SBD is listed on… Upbit and Bittrex are the two most popular SBD markets. Also, SBD can be traded on the Internal Market on the steem blockchain and exchanged for steem token. Going through one of the SBD markets is one of the ways to get SBD. All you need to do is to head over to one of the exchanges that SBD is listed on and purchase SBD. You can decide to send the SBD to your steem blockchain account and hold or convert to steem and powerup.

[Screenshot from coinmarketcap]

Cc:
@steemcurator01
@steemcurator02
@steemitblog
@yohan2on