Steemit Crypto Academy Season 4 Beginners Course - Homework Post For Task 2 : Steem and Tron

in SteemitCryptoAcademy2 months ago

Good day everyone,

I am very delighted to be part of this wonderful lecture and on the topic on Steem and Tron. I will like to thank our noble professor @sapwood for that wonderful lecture. I really enjoyed and learnt a lot so am kindly here to present to you my work.

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Below is my submission for the homework task.

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What is PoB? What does curation means to you on Steem Blockchain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior and why? Explore CoinMarketCap.com to indicate rank, Steem price and coinmarket.cap of STEEM(Screenshot required)? What are the difference tokens do you earn by socializing in Steem Blockchain? How would you use your TRX earned in Steem Blockchain to optimize earning in the Tron ecosystem?

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Proof Of Brain

Proof Of Brain is simply a way in which authors who have done well in their works or assignment are given out rewards from curators. Which is when you post something good or you get a pass mark for an assignment you will be provided with results. So with this Proof Of Brain we talking about, rewards will be given to you according to the way you do the work and the marks you get. But when we linking it to Steem Blockchain, we have a place known as reward pool and that is where rewards are been taken from by the authors.

With this, we have another consensus algorithm called Proof Of Stake. With the same page, Proof Of Brain provides authors with all the strength to create good post in collaboration with what we call SBD and steem power. In the Steemit Blockchain that’s the only two rewards authors get. You can also gain steem power not from the reward pool but from the curation rewards. We also have we call power up which also help steemians to gain steem power. The positive side of this power up is that it helps you to get more votes from authors and also increase your level of upvote which is you will be able to vote on someone post and it will be beneficial to that person.

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CURATION

Curation takes in place in Steemit blockchain where one gain rewards for posting something good. So this involves receiving upvotes to people who posted in various communities which involves Steemit blockchain. Curation doesn’t mean mean upvoting but downvoting is also curation. Below is some steps I think they follow before an individuals post will be curated:

  • Most a times the understanding of the post that is to be curated will be checked whether it’s on point.

  • The work will also go through plagiarism checker to see whether it was copied somewhere or not especially when it involves photos not sourced.

  • You know we have communities on here and how they want their work to be, so they check to see whether is on point with their community instructions.

  • So when your work is checked and everything goes on well, you will receive a mark and finally when you cross the average mark you gain an upvote and on the other side you can receive a downvote when post that’s not go along with the community instructions.

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BENEFITS OF BUILDING STEEM POWER

Talking of Steemit blockchain, a reward that one gains for posting something on a particular community is what is known as Steem power. Users can also use the rewards they gain to build the Steem power more. Thus Steem power is very important because without it you can’t upvote someone to gain something. What you need to also know is that the more your Steem power the more your curation rewards and the vise versus. And you want to gain this Steem power it’s very simple you visit your wallet click on the Steem option and again click on power up on any amount you prefer.

Having a high Steem power as I said earlier on is very important because you will be enabled to give curation rewards to certain communities. Not just that you also gain high curation rewards on your posts. Also there are certain communities when you don’t have some certain amount of Steem power your post won’t be marked talkless of it been upvoted and you having high Steem power automatically you are qualified.

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SELF VOTING AS GOOD OR BAD SOCIAL BEHAVIOR

With self voting, it is the act in which one upvote his or her own post. A lot of people are involved in self voting because it enables one to get the authors rewards together with the curation rewards. Curators on this platform mostly advice users to stop that act of voting for oneself. They are on that point because it is really not a good behavior, if everyone on the platform decides to upvotes themselves then it surely means that those who have lower Steem power will continue to suffer and their account will never be upgraded and with that it’s not going to be the best. Also if am a type of person with high Steem power and I get to see my fellow who is also with high Steem power but vote for him or herself I will never upvote his or her post again but rather than upvoting my own post.

When this simply happens, it means Proof Of Brain will not be in function anymore because as said earlier on that it is the act whereby authors get rewards from curators for posting something good.

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CoinMarketCap.com TO SHOW THE STEEM RANK AND PRICE

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  • For what we are talking about is Steem. So I kindly click on the search sign and search for my Steem token.

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  • Immediately you clicked on Steem token, everything about Steem will appear including the price, trading volume, market dominance, market rank and market cap.

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  • From my screenshot, the current price of Steem is 0.6071 and with a market rank of 200.

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TOKENS THAT ARE EARN BY SOCIALIZATION IN THE STEEM BLOCKCHAIN

We have some certain tokens that are given out to authors for making a good post on Steemit blockchain and below are some of them:

  • Steem
  • Steem power
  • Trons
  • Steem Backed Dollars (SBD)

I will like to put more light on each and every one of them.

STEEM

Steem token is simply gain from SBD and for you to gain this SBD then it means you need to make a meaningful post so that curators can upvote on your post. The upvote price you will be getting is the SBD. After that you then convert it into Steem with the help of the market price. When you finally gets this Steem you can now use it to either power up or to convert to your own country currency.

STEEM POWER

As I said earlier on, Steem power is a token that when one has is enabled to upvote on post of individuals with good posts on various communities. To get Steem power is very easy because you automatically gets it when are rewarded for a good post and finally redeem it, some percentage of the reward will be sent to your Steem to power up. Also you can do the power up yourself by going to your wallet, identify and click on Steem and then you click on power up and this will help in the increase in the level of Steem power.

TRONS

This Trons(TRX) is also one of the token which can be gained on the Steemit blockchain. This is gotten when one make a post and gain upvotes on the vote so immediately the post is up to the seven days level and you are ask to redeem, some percentage of the rewards will be sent into your wallet as Trons and that is how this Trons re gotten from.

STEEM BACKED DOLLARS(SBD)

This is the first token gotten when you are upvoted by a curator for making a good post. When this done by getting half of the curators rewards as the SBD. When it is on your wallets it takes approximately 7 days then after that you will be asked to redeem and then your Steem will be gotten successfully.

HOW WOULD YOU USE YOUR TRX EARNED IN STEEM BLOCKCHAIN TO OPTIMIZE EARNING IN TRON ECOSYSTEM

As we all know and as I said earlier on it is a token that is gotten from an upvote of a post after that reward has been paid out. It has it wallet where it is stored on the Steemit wallet and this wallet is known as the TronLink wallet.
For one to be able to optimize the amount of Trons he or she earned, you will need to choose any mining pool of your choice in the decentralized applications(dApps). Then you will pole the Trons that works with the liquidity provider. After that you will gain what we call SUN tokens. It can only be gotten when one is using Sun.io Defi application. There is another Defi application which is known as JustSwap where the SUN tokens can be given out for other tokens.

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CONCLUSION

In brief, I will like to say I really enjoyed the lecture a lot and I can say this lecture was one of the great lectures for this week. I also learnt a lot especially on Steem And Tron and more to the point on Proof Of Brain.

Thank you very much professor @sapwood for that wonderful lecture and May the good Lord be with us and bless us all.

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