[Steem and Tron with Professor @sapwood] - Steemit Crypto Academy Season 4 - Homework Post for Task 2
.png)
I am very excited to start with my very first steemitcryptoAcademy assignment.
(1) What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior & why? Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)? What are the different tokens do you earn by socializing in Steem Blockchain? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
Let's begin by answering the questions above one after the other.
What is PoB ?
PoB is the short form of Proof of Brain. For every good deed done, the doer of the deed ought to be rewarded. The same goes with the steemit Blockchain. A reward pool is set up to reward users who post quality content devoid of any form of plagiarism and aren't abusive to other users. The beneficiaries of this reward pool include;
- Content Creators & Curators(PoB)- 65%
- Witnesses- 10%
- Vested Tokens Holders(SP Holders)- 15%
- Steem DAO- 10%
The 65 % of the total reward pool, SP, and primarily the genuine knowledge of content creators collectively make Proof of Brain. PoB is empowered by the wisdom or beliefs of the people and this wisdom is judged and curated by other people ( curators) as to whether the content is good or unacceptable. Contents that are highly acceptable are those contents that could help better the ecosystem in the long run, for example making an educative post on cryptocurrencies as well as teaching others how to trade online. On the contrary, highly unacceptable contents include those of nudity, plagiarism, and very abusive content. These are normally detrimental to the ecosystem. Such posts are not tolerated. Plagiarism, for instance, does not encourage creativity and the actual application of an individual's wisdom and knowledge.
What does Curation mean to you?
Curation is a form of judgment in the ecosystem. It depicts an individual's post as good or bad. As such, it is incumbent on the curator to take some time to read through the post of the user, make the necessary analyzes as to whether or not the content is genuine and the user is showing originality of work.
Genuine work devoid of plagiarism of course ought to be rewarded so an upvote is given to the user on that particular post. Spam or plagiarised work isn't spared in the blockchain; a downvote is normally given such posts.
There is an advantage of curation to the curator. It gives you the curator a percentage of the reward from the reward pool.
Content Creators & Curators(PoB)- 65% of the reward pool. The curator's reward is always in SP.
Resteeming a post also forms part of curation as it enables other users to easily locate such posts and also curate and comment on them.
What are the benefits of building SP?
Steem Power (SP) is very essential in our stay and longevity of the blockchain. Some of the benefits include;
Giving the SP holder recognition or influence on the blockchain. If your SP is very high, you gain both the attention of other curators and users. Most of your posts are easily curated by a lot of people.
Building SP is a form of investment as it helps you save your own steem for future use.
Building SP helps you the user as it gives you a greater reward from the reward pool. The reward from the reward pool is distributed based on SP. The more your SP, the more your reward.
Building SP also gives you a much greater voting power. SP and voting power are directly proportional.
Building SP gives you even more advantage in generating Tron (TRX reward ) since TRX reward has been integrated into the blockchain. 1 SP is equivalent to 1 TRX. ( 1SP:1TRX ).
Building SP helps the user in building his or her respective communities. The more SP you, the more you can delegate to help build other communities on the blockchain.
Building SP is a way of saying thank you to the blockchain for all the benefits you have gained. Because high SP helps the blockchain survive as well.
How do you explain self-voting as a good or bad social behavior and why?
To me, self-voting is bad social behavior. This is because;
Self-voting debases the whole concept of PoB ( Proof of Brain ) in the blockchain. If you are upvoting your own post, then it means you are being your own judge and Proof of Brain allows for other users to rather do the judging and give you the necessary vote and comment.
It doesn't encourage creativity. If you are always upvoting yourself, it discourages you from being creative to write a post worth the vote of others.
Self-voting doesn't encourage effective interaction with other users. Other users might learn the bad practice especially newbies in the blockchain.
Self-voting is simply an act of selfishness. You tend to think more of yourself than other users and the ecosystem doesn't encourage that.
Explore Coinmarketcap.com to indicate ranks, STEEM price, and coinmarketcap of STEEM ( screenshot required )?
From the coinmarketcap, the following values of STEEM can be seen ;
Rank = 192
STEEM price = $ 0.6434
Steem coinmarketcap = $ 250,721,636.00
Screenshot coinmarketcap
.jpeg)
What are the different tokens do you earn by socializing in Steem Blockchain?
The different reward tokens you can earn in the steem blockchain are; STEEM, Steem Back Dollar (SBD), SP, and Tron (TRX). The core tokens of the blockchain were STEEM, SBD, and SP until 2020 when TRX was integrated into the blockchain.
The rewards for authors are not the same as that of the curators.
For an author, you earn SB, SP, Steem, and TRX. SP and SBD can be gained if you set your reward option of a post to 50% SP and 50% SBD. You can equally set the option to 100% SP payout.
If the debt ratio is above 10%, the author can gain Steem and SP and if it is below 9 %, the author gains SBD and SP. The author can gain all three if the ratio is between 10% and 9%.
Whiles gaining SBD, STEEM, and/ or SP, the author gains TRX in addition. This is in the ratio of 1 SP: 1 TRX.
For curators, they gain their reward in the form of SP and TRX.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
I have created a tronlink account and linked it with my steemit account. All the Tron I get from my post is directly sent to my Tronlink wallet. This is how I would use my TRX earned from steemit.
- I have already frozen my TRX in Tronlink and voted on some SRs ( Super Representatives) for more TRX rewards.
- In the Tronlink wallet, I can use JustSwap to convert TRX to any other currency of my choice and trade with it.
- If I get more TRX, I can do transactions with other account holders like Binance holders.
Thank you very much Professor @sapwood for the lectures. It has really augmented my knowledge of the blockchain. And I would do everything within my power to maintain and promote the standards of the blockchain.