Crypto Academy Season 4 Beginners' course - Task 2: STEEM & TRON
What is PoB? What does curation mean to you on Steem Blockchain? What are the benefits of building SP? How is upvoting explained as good or bad social behaviour and why? Browse Coinmarketcap.com to indicate STEEM range, STEEM price, and coinmarketcap (screenshot required)? What are the different tokens you earn by socializing on Steem Blockchain? How would you use your TRX earned on Steem Blockchain to optimize profits in the Tron ecosystem?
What is PoB?
PoB is a very important aspect of the steemit platform. Before I will define PoB, we need to know what it represents. It is an acronym that stands for "Proof of Brain". It has to do with a person's ability to create ideas, words out of other people work. It is putting one's ability to think to test.
In the steemit platform, your creativity and ability to think are required. For instance, you will be given a lesson on a particular topic in the crypto academy and you will be required to answer questions based on your understanding and in your terms.
PoB system has criteria based on which works are usually judged. They include right grammatical construction, neatness of work, quality of content and presentation style( use of markdown). It should also be free from plagiarism. A work that when read by another, can be understood and used as a reference point.
Like we all know, every work deserve a reward, the same applies to PoB. PoB attracts lots of rewards and benefits from the professors and curators on the steemit platform. The rewards come in the form of Steem Power(SP), STEEM, SteemDollar(SPD) and Tron.
What does curation mean to you on Steem Blockchain?
It is a scenario that has to do with getting a monetary reward for upvoting another person's post or content. In the steemit platform, they are known as curators. Curator views the content of another user, read through the content to check out for plagiarism and PoB, then vote for the person and gets paid.
I think that curation in the steemit platform should not be all about reading good content, voting for it and getting paid. But that the curators should take out time to go through the contents and check out for plagiarism and notify the appropriate bodies in charge of their discovery. And also emphasises and encourage the good writer and make sure their work goes viral.
What are the benefits of building SP?
Building Steem Power (SP) is very important in the steemit platform. There are lots of benefits associated with building up one Steem Power (SP).
In the platform, one of the ways to be able to become a curator is by building your Steem Power, with the more steam Power (SP) you acquire, you become able to become a curator (that is you can vote for a post and get paid for voting).
However, building of Steem Power (SP) also aids in community development. As mentioned above that you can become a curator by building your SP, this will help in the community to help reduce the workload on the Steemcurators (steemcurator 01, 02 .......05).
And also with the current inauguration of Tron (TRX) in the steemit wallet, you can also get a reward in TRX in a ratio of about (1SP is to 1TRX), a reward you get for being a curator or actively participating in social activities in the platform.
How is upvoting explained as good or bad social behaviour and why?
Well before I can explain if upvoting is a good or bad social behaviour, we understand what upvoting is all about.
Self-upvoting has to do with voting for one's own publication or post created, that's voting for oneself. I think that self-voting is a bad social behaviour that should be frowned at and discouraged in the steemit platform.
Being an author of the content or work you will definitely, want to vote your work to your advantage and favour.
Let's take for instance you participated in a competition or an exam and you are asked to score yourself, you will surely give yourself a high score, But it is not supposed to be so.
Thus, our content should be voted by other users or curators to be able to discover our errors and impact others with our work. And also build a strong network of followers on the platform.
Browse Coinmarketcap.com to indicate STEEM range, STEEM price, and coinmarketcap (screenshot required)?
To explore Steem price, range, and coinmarketcap we have to visit the below link
Coinmarketcap
As of the time of writing, below are the Steem coinmarketcap statistics.
| Steem Price | $0.5823 |
|---|---|
| Rank | #198 |
| Marketcap | $228,131,152 |
| Fully Diluted Market Cap | $241,432,893 |
| Volume 24h | $9,730,315 |
| Volume/Marketcap | 0.04069 |
| Circulating Supply | 391,795,827.37 STEEM |
| Total Supply | 408,769,921 |
What are the different tokens you earn by socializing on Steem Blockchain?
Many benefits can come in the form of tokens in the steemit platform. There are about four tokens you can earn by socialising on the blockchain. They come in form of STEEM, STEEMPOWER (SP), STEEMDOLLAR (SPD), and TRON (TRX).
STEEM:
It is the main cryptocurrency of the steemit platform. Although you cannot obtain Steem directly when you create a post but only when it is being transferred to you by a friend or if you participate in a competition with steem being the reward.
You can also convert your SBD to get steem
STEEM POWER (SP):
Which is SteemPower can be seen as a non-transferable token that represents the power we have in the platform. It can only be gotten when you create a post. However, when you create a post you can put it in an advanced setting of either 100%SP or 50%SPD /50%SP. Having a high SP in the platform enables you to be a curator and increases your influence.
STEEM DOLLAR (SBD):
Basically, SBD means Steem Back Dollar, which is another rewarding one can get from creating a post. Based on your settings, you can get paid with about 50% SBD which you can convert to steem. Currently, as at the time of writing, one SBD produces 11.859 them.
TRON (TRX):
TRX is another form of reward that can be gotten from our publication or post. It is the main token of the Tron Blockchain.
It is important to note that when a post is created after seven days it gets curated and the curators receive their reward in Steem power while the author choose from the options shown below in the screenshot the type of reward system he/she wants.
How would you use your TRX earned on Steem Blockchain to optimize profits in the Tron ecosystem?
All the TRX received in the steem blockchain are linkededed in the TronLink Pro Wallet. Through the TronLink Pro Wallet, there are lots of activities to optimize profit by partaking in the governance, providing liquidity in the liquidity pool, staking of assetsssssssss to receive a annnn a certain percentage of reward, swapping. Through these means, we can optimize profit.
However, we can also hold the TRX earned on steem blockchain via our TronLink Pro Wallet which will be favourable when the price of Trx appreciates in the future as such we have optimized profit.
CONCLUSION
We have been opportune to have this wonderful platform (steemit) at our disposal, Where PoB is required to create posts and get so many rewards from it in form of SP, SBD, STEEM and TRX.
I hope from this writeup you will understand the need to build your Sp and how to build it.
A very thank you to the
Professor@sapwood
for this wonderful opportunity
and thanks for reading through
Cc;
@sapwood
