Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [Steem and Tron ]
Continuing my warm up for upcoming intermediate and advanced tiers, i am writing task 1 today. So let's begin.
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?
Proof of Brain
Proof of Brain is a mechanism to analyse the content based on your analytical capabilities on the steem blockchain and reward the content by derriving rewards from reward pool as per stake weighted mechanism (SP) . So if we try to analyse it in simplified manner , we can say that steemit authors give proof of brain by creating quality content and curators than analyse the content and express thier response in the form of votes proportionate to their SP. All this in aggregate constitute proof of brain.
Curatiom on steem Blockchain
We usually correlate curation with upvote but it is much more than that. Curation on steem blockchain is a well structured process which starts from reading a post , analysing the quality of the content and source of the content , interacting in the form of intriguing comments that further add value to the post or help you in clearing your doubts, if any. It further extends to resteeming the post, upvoting the post by making use of your steem power. It also includes downvoting of plagiarized or spam content for betterment of community. So it is actually a powerful tool in hands of users through which we can help each other as well as community.
Benefits of building steem power
Empower and get empowered.
I think by developing more and more steem power , we are empowering the community . As per my experience on steemit, being a morally sensitive community, it in turn helps the users with good steem power
to grow more and more by supporting them in the form of rewards on their content. So I can say, by developing more steem power, we empower the community and an invturn community empowers us.
Better curation rewards.
More the steem power , more is the upvote value and therefore more the upvote value more is the curation reward.
Better influence over community.
By building more and more steem power, your influence in the community increase and you can get a chance to become part of governance team of the community.
Better recognition in community.
More the steem power, more support you get and therefore better is the community recognition.
As an Investment
Steem power can be liquidated to steem that can be used in case of emergency. Moreover, it is an investment for you. With the passage of time, crypos are being gradually recognized by community and therefore value increases. Steem is therefore an investment and can be materialised
at any time in case of emergency and can be put to use.
Self voting
Self voting is a bad social behaviour because it neither benefits the voter nor the community. Let me tell you why. As per my experience on steemit is concerned, users usually tend to self upvote on the posts that are of poor quality and do not get good post rewards , therefore the isolated judgement of self voting is not respected by community and does not reach in consensus with the community. So self voted posts end up getting poor post payout rewards that are shared among author and curators. As steemit is based on convergent linear reward system, so if the input is low, the output is is lower and vice versa. On the contrary, if the same upvote is used in voting quality content, that would be beneficial for the quality content creator as well as the curator because content creator gets good author rewards and curators get good curation reward. So in this way a healthy community is created.
Steem on Coinmarketcap
Click here to look for steem status
Below are screenshots of steem status from coinmarketcap
Market Cap
$92,965,002
Market price
$0.2336
Rank
268
Tokens earned
Four different tokens are earned by socializing on steem blockchain and tokens are: SBDs, steem power, steem and TRX.
Different means of earning the above mentioned rewards are ;
Curation rewards: These rewards are earned by voting on content of other users and when the post pays put, half of rewards are distributed among curatoers. It is also earned by interacting with other via comments if those commenrs get updated. Curator reward is earned in the form of SP.
Author rewards: For author rewards, let's look at blockquoted sentence below taken from post of @ sapwood.
For an author, it can be SBD+SP(if the Debt Ratio is below 9%; currently it is below 9%) or STEEM+SP(if the Debt Ratio is above 10%), or STEEM+SBD+SP(if the Debt ratio is between 9% and 10%)
Source
With recent integration of steem and Tron, steem and TRX are awarded in 1:1 ratio by default.
The other ways to earn any of these rewards is ro participate in different activities like comtests, challanges, interest on holding steem etc, where type of reward earned depends upon host.
Thanks
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