Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [STEEM Y TRON] [@sapwood]
photo edited in Canva by @dexsyluz
Homework Task-1
(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?
¿What is PoB?
To talk about this I would like to start by introducing the definition of STEEMIT.
Steemit is a decentralized social network that seeks to reward users who generate quality content, it works on a blockchain called STEEM that allows its decentralization. And as well as allowing them to invest in the platform to obtain shares and thus generate income.
PoW is a typical mining system, it works with the objective of verifying and guaranteeing the validity of a transaction, while consuming the necessary resources without abusing the system. Most blockchain projects work with a PoW system, where you get a certain amount of tokens for an amount of resources (or $$$) allocated to the project, it is worth noting that a good project that implements the PoB system, mainly works with the fundamental basis of PoW (Proof of Work) to ensure the viability of the project.
When we talk about PoB (Proof of Brain) , it is an innovation in the management system of the Reward Fund (minted tokens). I mean by this, that in the case of PoB there is going to be a different protocol of generating tokens from the ecosystem, and this will be by producing quality content and helping the community to discover good content and avoiding plagiarism at all costs.
To ensure the discovery of quality content, we must immerse ourselves in each publication and not just vote for the sake of voting, but make a judgment regarding the format and content used in the publication.
As I said, every PoB system is built on the fundamental basis of the PoW system, in order to generate a pool that can be used at the time of curation.
By obtaining STEEM POWER tokens on the platform, we must put them to use by committing ourselves to discovering high quality posts, rewarding a person's effort for a publication.
The distribution of the benefit of the reward fund is as follows:
Quality content generators and content curators (PoB): 65%.
Witnesses: 10%
Users with Steem Power (PoW): 15%
Steem DAO: 10%
Let's keep in mind that this system works in such a way to remunerate content authors, in addition to being rewarded for voting on quality publications.
¿What does curation mean to you in Steem Blockchain?
Healing from my point of view, is to verify the content that is being voted, many people vote for voting, and in fact that is wrong, we must read the publications to accurately verify the content, check if it really is quality content and according to this we will make a judgment, if we want we can write our comment about it. Report the plagiarized content, our goal is to avoid plagiarism at all costs, so that the Brain Test is well rewarded. We must make a judgment about how valuable the content is in the community, and if it is of quality or if it brings welfare for the blockchain. At the end of our analysis we vote it, depending on the overall content if it is of quality, and give it Reestem to spread it to others.
¿What are the benefits of building SP?
SP brings many benefits when it comes to having more control over your rewards, among the benefits are:
Increase the value of the Steemit ecosystem. Since the Steem Power are actions that we can use in order to curate content, we invest in the platform getting in return a token that will have that specific utility to generate profits by curating quality content.
Of course, your curation rewards go up as you invest in the platform.
It helps you rank higher on the platform. Your content can be seen more if you participate in the growth of the platform.
Increasing our SP gives us the opportunity to support the people we invite to the platform, encouraging the growth of this person, helping them to strive by rewarding their good content.
¿How do you explain self-upvote as a good or bad social behavior & why?
From my perspective, I can say that self-voting is a bad behavior on the part of the users who practice it, since in this way we would be skipping the steps of PoB, which require that the content is curated, that the source of the content is verified, that there is no plagiarism in the community, that the content is disseminated. When we decide to give our vote to this type of systems, we are participating in a mediocre attitude, an attitude that does not allow the growth of the community if not impoverishment, our job is to curate quality content and allow this content (according to our judgment is of good quality) to reach other people and can take advantage of the information.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM (screenshot required)?
For the day 25 - 06 - 21 of the completion of this task, the STEEM token is in the 200th position on the CoinMarketCap page with a price of $0.2395 per token.
Screenshot by @dexsyluz de CoinMarketCap
With a market capitalization of $96,660,469. It has a total of 402,241,226 coins in circulation and the maximum supply quantity is not available.
¿What are the different tokens do you earn by socializing in Steem Blockchain?
By creating quality content, we will receive a healing and this healing we can collect through a reward system, which we will be able to enjoy in the three presentations below:
STEEM: The token was born mainly in the ICO at the beginning of the project, it was the first token offered by the platform.
STEEM POWER (SP): It is a Steem that is acquired at the time of making Power Up, this way it becomes less liquid because it will be more difficult to change it back to STEEM, having to go through Power Down that lasts for weeks to be able to redeem it for local money. Power Down is not recommended, as we will significantly decrease the reputation and influence of the platform, so we should avoid it as much as possible.
STEEM BACKED DOLLAR (SBD): It is defined with liquid. We obtain it and it is part of the reward system. Initially it was determined that its value was going to be $1, but over time it has increased in value, but on the STEEM blockchain, we will see that its value will always be $1, without counting on external exchange systems.
TRX: this token belongs to the TRON chain, and it is going to be generated according to the amount of SP that you generate when you make a vote of a quality content or make a publication and receive a reward. By this I mean that if we get 1 SP in the reward system, we will get 1 TRX.
There are several ways to configure a publication according to the rewards we want to get, if we want to boost the growth of our account, we will activate the 100% Power Up option. If we want to receive SBD, we will select 50%/50%, where we will get 50% percent of the healing rewards, and that percentage will allow us to get 25% SBD and 25%STEEM POWER.
Screenshot by @dexsyluz
CONCLUSION
Thanks to the realization of this task I was able to deepen more about the importance of reading the publications, and not to be satisfied with just reading and voting, but to make a judgment and verify that the content is of welfare for the Steemit community, we should not overlook the good content and spread it with the communities. I was also able to understand how important it is to contribute to the community for the growth of the ecosystem. Blessings!
Hello @dexsyluz, I’m glad you participated in the 1st Task of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:
Observations:
This is correct.
I like the way you explained self vote in detail. It is a bad practice in the Steemit platform that should be eliminated to encourage better content discovery.
Recommendation / Feedback:
Thank you for submitting your homework task. Your explanations show your understanding of the topic. Keep up the good work.
muchas gracias profesor!