Steemit Crypto Academy week 6 - Stable coins | homework done by davchi |

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INTRODUCTION

I wish to put up my homework in respect to the Steem Backed Dollar (SBD) stable coin

First, I would like to put down my philosophy and concept of the stable coin.

The stable coin could be seen as a crypto currency that holds more stability in it's value especially against the dollar (since it's the international accepted exchange currency) despite fluctuations in other cryptos, hence they acts as contingencies, ancillaries and also complement other more volatile cryptos attached to them in any decentralized system.

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THEN WHAT IS STEEM BACKED DOLLAR:

As the name implies, a dollar backing or assisting steem crypto. Hence this is a token that is conglomerated to the steem Crypto currency which has maintained a more progressive value in terms of being exchanged against the normal dollar Fiat which has given a boost of morality In holding the steem Crypto.

WHERE TO EXCHANGE THE SBD
There are different exchange platforms where the SBD can be traded or exchanged like the Bittrex,Upbit, HitBTC etc.

A TECHNICAL AND STATISTICAL BREAKDOWN OF THE STEEM BACKED DOLLAR

As of the time of putting down this post, the market Capitalization is stipulated at 0.1606, the trading volunteer of steem stands at 61.18%, the price of a steem backed dollar to the US dollar is stipulated at 6.78, it has a market dominance of 0.00 and a market Rank of 534.

ECONOMIC VALUE OF STEEM BACKED DOLLAR
Since the Inception of the steemitblog in ecosystem, the incredible rise in the value of steem and steem backed dollar has been over whelming despite the volatility of Cryptocurrencies. As the former is not without incredible improvement so Aldo the later has added some economic value to it's users. Hence the steem backed dollar as an auxiliary currency to steem has:

1.INCREASE IN THE VALUE OF STANDARD OF LIVING OF ITS USERS:

The steem backed dollar has doubtlessly Increased the standard of living of it's users, as it has create room for financial back up to individuals across the globe

2.FINANCIAL STABILITY:

The steem backed dollar has as one of it's major value additive feature, boosted the financial stability of most STEEMIANS and users at large, as different personalities has been able to maintain a stable financial returns on either daily monthly or even yearly basis with a sure and distinctly precise forecast.

3.CREATION OF EMPLOYMENT:

The steem dollar has created a partial but reasonable employment opportunity to many users, on the contrary it is obvious on the level of involuntary unemployment in many countries, so with the help of the SBD, individuals and users has been able to gain a profitable employment against the back drop of unemployment issues.

4.DISCOURAGEMENT OF THE INCENTIVE TO POWER DOWN THE STEEM CRYPTO

it has given it's users (STEEMIANS) the capacity to be sustained in the steemit ecosystem even in the long run without powering down their steem crypto currency if not for certain call ups, etc.

5.BETTER SATISFACTION

The ownership and acquisition of the steem backed dollar, has given it's holders a better satisfaction, since the said crypto conveys a very reasonable value and absolutely reduced negative or regressive volatility as compared to some other highly volatile Crypto currencies.

Finally one may ask, how do I generate the steem backed dollar as an individual

Basically there are several ways to generate or own the steem backed dollar

*First one must have a steem wallet in other to own the said crypto currency.

*Secondly, the business of steem is trisected or segmented into three viz:
A. writing to earn: any body can earn SBD on the steemit ecosystem when ever they write posts that are not powered up to 100%

B. voting to earn: people who has a better and reasonable steem power can also earn the SBD when ever they stake their vote against certain individuals in the system like @playdice and some other persons. or similar built blogs in the system.

C. buying for power-ups

most of us are familiar with the process of power-ups, which actually is what that is been done every first day of every month if not for certain ceremonial seasons.
So on this note, steem users who powered up and was able to be among the power-up contest winners are also rewarded with SBD outside of the their delegations form the system.

D. Finally one can also earn or hold the SBD just by exchanging their owned earned steem crypto to the SBD. etc.

This is my contribution on the SBD crypto currency as a stable coin or token.

I hereby wish to appreciate professor @yohan2on for the incentive to go through a task as this, thanks.

Cc:@steemcurator01
Cc:@yohan2on