Steemit Crypto Academy Contest Season 8 Week 1 -The Importance Of Blockchain Technology

Introduction

It's now Season 8 of the Steemit Engagement Challenge and we believe you are so excited and ready to participate with us once again. We solemnly welcome y'all into the new season and we bring to you our contest for the first week. We hope you will all love it

The Importance Of Blockchain Technology

We are in the era of technology and in the world where blockchain technology plays a very important role to us most especially as it eliminates human intermediaries and enable an unprecedented amount of individual control over one's own digital data. It provides high standard level of trust and security which modern digital transactions requires.

Blockchain is now very popular among the general audience and we can find the blockchain’s importance by going through its key features such as it's immutability, transparency, digital freedom, excellent use cases and so many others

Blockchain technology is also very important to the business sector and it has advance database mechanism which always allows transparent information sharing within a business network and it always provides high level of security and trust which modern digital transactions require.

Blockchain technology is very important to it's users because those using it can confirm transactions without the assistance of third party as the traditional centralized organization is always absent

What is Expected in the Contest?

• What are The main issues arising in the existing system of Blockchain technology

• Explain to us some of the key features of Blockchain Technology

• Give a basic and simple understanding of how blockchain technology works

• Provide an understanding of how we can be able to use Zero knowledge proof for authentication

• Advantages and Disadvantages Of Blockchain Technology

Contest Guidelines

• Post your articles in the Steemit Crypto Academy community. The participation time is between Monday, February 27th, 2023, 00:00 UTC to Sunday, March 5th, 2023, 23:59 UTC.

• The article should be at a minimum of 500 words. You can write more. Your article must be free of any form of plagiarism.

• Your article title should be Steemit Crypto Academy Contest / S8W1 - The Importance Of Blockchain Technology . Add the tag #cryptoacademy-s8w1 and other relevant tags.

• Participants must be appropriately following #club5050 or #club75 or #club100.

• Participants must be verified and active users on the platform.

• The community moderators would be leaving quality assessments on your articles and probable upvotes.

• In addition, your article must get at least 10 upvotes and 5 valid comments to count as valid in the contest, so ensure you interact with other users' entries. Do not be involved in vote-buying.

Rewards

• SC01 would be checking on the entire 7 participating communities and upvoting outstanding content. Upvote is not guaranteed for all articles. Kindly take note.

• At the end of the week, we would nominate top 3 users that had performed well in the contest and they would be eligible for votes from SC01/SC02.

---

Important Notice: The nomination of the top 3 users in our community is not based on good grades alone, it includes their general engagements (quality and quantity of their interactions with other users' articles) to measure the overall performance. Also note that generally, you can only make one post per day in the Steemit Engagement Challenge.

Conclusion

After knowing some of the importance of Blockchain technology, we will now like to hear from y'all your understanding of this topic. So we hope everyone will have good information about this topic.

Please always remember to stay original and give in-depth analysis to all the required contest questions