Crypto Academy Week 5: Steem Blockchain – by @sapwood
Hi everyone, welcome to this week’s awesome steemit crypto academy lesson by @sapwood . In this homework post, I will be providing my solutions to some of the tasks in relation to the steem blockchain also giving my opinion and knowledge about my knowledge of the steem blockchain and and some of its features. As a big fan of steem, I have to say, this chapter 5 topic by the steemit crypto professor is a really interesting topic, explaining useful topics about steem blockchain.
The world of blockchain social media wasn’t really a thing until steem and steemit came into existence. Steemit was probably the first blockchain powered decentralized social media platform that truly rewards its users for creating and curating contents on the steem blockchain. The rest as the say is history as the steem blockchain has gone on to become one of the top blockchain with lots of transactions on the blockchain and also definitely the most popular and successful blockchain powered blogging platform and interacting with the steem blockchain.
What will happen if you vote before "5 mins age of a post" & after "6 days 12 hrs age of post" in Steem Blockchain?
On steem, aside from posting contents, voting contents is also one of the main actions that take place. We call it curation which plays a major part on the blogging aspect of the steem blockchain. Now when it comes to voting on your good contents on steemit, there is a lot more to it than just hitting the upvote botton. Timing play an important role when it comes to curation and rewards… that is why being a good curator on steem requires a combination of curation skills and good timing.
The question is, what will happen if you vote on a post before 5 mins age of the post & after 6 days 12 hrs age of a post in Steem Blockchain… When you vote on a post before the 5 minute age of the post, you will not earn full curation reward you were supposed to earn… This simply means that the less the time from 5 minute you vote on a post, the less your curation reward will be.
For instance you vote on a post on 0 minutes, you will not get any curation reward instead the curation reward will be returned to the reward pool. If you vote on 1 minute, you will receive 20% of your curation reward. If you vote on 2 minutes, you will receive 40% of your curation reward. If you vote on 3 minutes, you will receive 60% of your curation reward. If you vote on 4 minutes, you will receive 80% of your curation reward. Voting on 5 minutes age of the post gives you 100% curation reward. The curation rewards lost depending on the time you voted on post less than 5 minutes will be returned to the reward pool.
For the second question, when you vote on a post after 6 days 12 hrs age your vote value will be decreased and your curation reward will be decreased also. This simply means that your upvote value and curation reward decreases over time as a post age gets closer to the payout time.
How do I check how much reward of a post has returned to the reward pool in Steem Blockchain?
There is a tool for checking how much reward a post has returned to the reward pool in the steem blockchain. Steemworld is a great tool for doing this. The website is https://steemworld.org
- Go to https://steemworld.org/@designieplay … use your username instead.
- Locate the tab “Post” and click on it
- Locate and select the post of your choice
- On the summary tab, you will see the details
For the post, the was no $ returned - on the "payout returned" section, the payout returned was 0.00$ and 0.14%
Under what circumstances a curator can earn more than 100% upvote value as curation rewards?
This is also interesting to talk about. While a curator most of the time earn 100% of their curation reward, it is also possible a curator to earn more than 100% upvote value as their curation reward. This is possible on steem when a curator finds a good post first and belief the post is capable of going on to be a hit, then goes on to vote the post with 100% upvote and at 5 minutes age of the post, then the curator will eventually receive more than 100% upvote value as their curation reward when the post pays out.
Simply put, “curator A” finds a new high quality post, “curator A” beliefs that the post will be a hit. “curator A” votes on the post inside 5 minutes or decides to wait for the post age to reach 5 minutes and gives the post a 100% upvote. The post goes on to become a hit because many whales saw the post and gave massive upvotes on the post. The post becomes a hit and on the trending page. When the post pays out in 7 days, “curator A” will receive more than 100% upvote value as 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?
- To do this, go to coming rewards
- Go to curation rewards
- Click the refresh button
I picked a random post by rishabh and from the details I voted on the post after 2days 11 hours 47 minutes 30 seconds. My position on the post is 52 position. The projected curation reward is $0.001
- To view the position, select the pie chart icon
What is the role of curation in better content discovery in Steem Blockchain?
When it comes to content discovery on steem blockchain, curation is key. A quality post can get lost in the crowd when it doesn’t receive any upvote. Because of this, curation is key to bring quality posts to the limelight and get them seen by more eyeballs.
Curation helps in content discovery on steem blockchain by pushing the post into the trending page. When a post is on the trending page, it stays there for a longer time and gets a lot of views. And if the post is of high quality, it will most likely attract other curators to vote on the post too.