Crypto Academy Week 6: 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 the tasks of this week in relation to the steem blockchain also giving my opinion on some aspects of the steem blockchain. As a big fan of steem and steemit, I have to say, this chapter 6 topic by the steemit crypto professor is a fantastic topic, explaining useful aspects of the steem blockchain.
What are the economic & social ramifications of self-upvote in Steem Blockchain? Do you gain better curation rewards by upvoting others as compared to self-upvote?
One thing about the steem blockchain is that it gives users freedom which means that users can self upvote their post. This can be done but it still has some economic ramifications in the sense that when users begin to self upvote their content, it takes away from the actual curation which is one of the most important aspects of the steem blockchain. Curation helps in reward distribution in a fair way on steem… so self upvotes doesn’t distribute reward fairly which has a negative impact on the network.
The social side of the steem blockchain and steemit runs on the principle of posting and curating contents, so when users take away curating contents side of the steem blockchain and do self upvote alone, then the social side of the blockchain network is unbalanced. Content creators derive motivation when users read their contents and their contents receive curation from the community, so when the community focus only on self upvote, there is no socialization, it doesn’t allow proper and fair curation which also helps to motivate content creators for their hardwork in content creation.
There is no economic advantage when self upvoting, this is because of the linear reward system used on steem. For instance, if users self upvote, they are only doing what is called isolated judgment and that is it, that self upvoted post might not receive any other upvote from the community. However, upvoting other user posts on steem can earn the curator more rewards because of community judgment. When a curator votes a post that goes on to be a hit, the curator who upvoted the post first will earn more reward.
What is the difference between isolated judgment and community judgment in curation? How do you adapt to community judgment on quality content in Steem Blockchain? Does that bring economic incentive for you?
Isolated judgment is simply when a user on the steem blockchain upvotes a post based on his personal judgment on the quality of the post. Sometimes this kind of judgment can sometimes have some negative impact because a low quality post can receive large votes from isolated judgment from curator with large steem power which doesn’t distribute the rewards fairly. Isolated judgment can transform to become community judgment if the post is quality and the post gets more visibility because of the isolated judgment.
Community judgment is simply when the community join forces to upvote a post because they see the post as good quality to be upvoted. This is probably a very healthy way of judgment because when the community joins to upvote a post, then no doubt that the post is good quality and is worthy of upvote. This kind of judgment is decentralized and fair because it takes the power of the curators and community to upvote a quality post to the trending page which gives the post more visibility for more recognition and upvotes.
- Adapting to community judgment on quality content in Steem Blockchain is about scouting for contents that are doing well in terms of upvotes from community and curate the contents. Upvoting a post based on isolated judgment can transform that post into community judgment as far as it is a quality content. Adapting to community judgment on quality content can bring more reward if the post becomes a hit and the early upvoters will receive more rewards.
Go to Steemworld.org, check your Upvote value( at the current SP, VP). Take a screenshot. Then go to the Steemit trending page, find a post with a payout of more than $10 but less than $50(Age less than 6 Days 12 hrs). Upvote it. Take screenshots before and after upvote. Similarly, go to another post on the Trending page, find a post with a payout of more than $100( Age less than 6 Days 12 Hrs). Upvote it. Take screenshots before and after upvote. Tell the differences between the two. Which one has produced a greater Upvote value & Curation reward for you with the same resources(SP, VP)?
- Find a post with a payout of more than $10 but less than $50(Age less than 6 Days 12 hrs)
.png)
.png)
- Find a post with a payout of more than $100( Age less than 6 Days 12 Hrs)
.png)
.png)
- Which one has produced a greater Upvote value & Curation reward for you with the same resources
From the analyses on steemworld, i will receive more curation reward for upvoting the post with a payout of more than $100( Age less than 6 Days 12 Hrs) - The pending curation reward is 0.002 SP
From the vote analyses on steemworld, i will receive lesser curation reward for upvoting the post with a payout of more than $100( Age less than 6 Days 12 Hrs) - The pending curation reward is 0.001 SP