Steemit Crypto Academy Season 4 - Homework Post for Task 2 On :STEEM & TRON: by @gi-de-on.

in SteemitCryptoAcademy3 years ago


GREETINGS EVERYONE

All thanks to professor @sapwood for the wonderful class. I must confess it was really a blast and lots of impact has been made. For been part of this very wonderful session of class I mandated to take part in the home work post and this my entry to show I have read and understood what has been taught.


QUESTION1
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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?



INTRODUCTION

The STEEM coin even if the price of the coin haven't gotten to a very reasonable extent, it is still among the biggest coin token known. This has been made possible through the decentralized blockchain called steemit.


@EUNICE001 (1).jpg


Hence, the STEEM is like an open book which is also on a blockchain (social blockchain) which enable users to monetize their contents through the use of brain.

Furthermore, the STEEMIT is a social blockchain that has been in existence since the year 2016. Hence, it is simply a blockchain based blogging and a social website which gives rewards to its users in SBD which can be later converted to STEEM. This is reward is been given to the various users for creating original contents and curating of contents.


G55.png


MEANING OF PoB
G55.png

The PoB which is simply and abbreviation which stands for what is known as the Proof-Of-Brain.



image.png
IMAGE SOURCE


There are three main key points to be noted when talking about the PoB this are namely;

  • Reward Pool
  • Steem Power (SP) or the influence power
  • Decentralization.

All the above listed would be explained in the subsequent paragraph below as to showcase/explain the meaning of the word/abbreviation PoB.


THE REWARD POOL


There is always a reward pool for both the authors and curators. As the standard holds that, the author and the curator are to share 50%/50% of the rewards in a content payout. Hence, there is a pool in the decentralized blockchain where all rewards are been kept or stored which is known as the reward pool.



POOL.JPG
SOURCE


STEEM POWER (SP)


The Steem Power (SP) is a very much general and popular word in the steemit blockchain. This is far different from what is known as reputation. The steem power simply plays a very important and big role in the steemit blockchain when it comes to distribution of rewards. The more the SP, the more the reward distributed.
To conclude on this I will say the SP is just an influence power to distribute rewards.


DECENTRALIZATION


Since the steemit blockchain is a completely decentralized system, it allows it users to be able to create original contents and hence make use of their independent knowledge to differentiate a good post or a bad post. This aids/help for content curation.


Hence, a Proof-Of-Brain (PoB) Is simply the combination/wisdom of the people all put together to be able to know and differentiate good/bad contents. For the decentralized nature of the social blockchain (steemit) gives it users the decision making ability to use at their own free will to enable curation of content work effectively.



G55.png

What does curation mean to you in Steem Blockchain? What are the benefits of building SP?


G55.png

The term curation simply means the act/process of gifting somebody something that has do with fiat money (physical cash). It will be important to know that in the steemit blockchain, curation happens/occurs when a post is been upvoted by others or when other peoples posts are been upvoted by you which enables the author/content creator to earn some fiat money.

There are two key terms to be noted during curation. These are called;

  • The upvote &
  • The downvote.
    Since the steemit system is decentralized as stated at the beginning of this post, this gives it users to decide weather to upvote a post or to downvote a post.
    Hence, Upvote is simply a way of sharing reward or it is simply a way of distributing reward to a content creator. This can be done as a sign of encouragement and it depends on how good the content seems to be.

Capture.JPG
[screenshot was taken from the @steemit.com site]

The act of curation is made possible through the use of the two buttons as shown in the image about.
It would be wise to know that, curation is only been possible when a content is been upvoted. That is only when a curation reward can be distributed to content. Curation does not happen when a post is downvoted.


Down vote is simply an act of collecting back (in it simple term). That is to say it is the act of redistribution curation reward on a content that has already been curated.

In this regard I will say that curation can simply be said to mean the following listed items in the steemit blockchain:

  • The ability to read a content,
  • Diligently checking the content been created for plagiarism ( knowing the originality level of the content)
  • Check the value adding ability of the content; does it add value to your life, does it add value to the steemit blockchain, does it have what it takes to promote the steemit blockchain, etc.
  • Upvoting the post is also a means to show your satisfaction for the content
  • Resteeming the content is also part of the whole curation process.

NB: All this are made possible through the decentralized nature of the social blockchain. For it gives it users the decision making ability to do and undo on the blockchain.


THE BENEFITS OF BUILDING STEEM POWER (SP)

SP is simply a saving/investment for the future and this is hence one of the most important aspect of been a steemian. Every persons present of the steemit blockchain is supposed to build his/her SP for the following reasons.

  • One of the most paramount and I see both beneficial to the SP holder and the communities he/she is been active in is that it develop community building.
  • Another core reason for holding SP, it gives the SP holder the opportunity of getting a stronger vote: Here, both your upvotes and downvotes power is proportional to the amount of SP an SP holder is holding.
  • When it comes to curation reward, a holder with high amount of SP earns more curation rewards.
  • Delegation of steem power can be made possible or work effectively with enough SP on a holders account.
  • Holding SP help you earn passive income and interest that you would not have gotten if you allow the coin in an exchanger or cryptocurrency wallet.
HOW DO YOU EXPLAIN THE SELF-UPVOTE IS IT GOOD OR A BAD SOCIAL BEHAVIOUR?

Self-upvote in it simple terms is simply the act of upvoting oneself. This is very common on the steemit blockchain. For me it isn't a good social behavior. Instead of using that voting power to upvote yourself, why not put some smile on the faces of others struggling to get their post curated.

There are more very interesting and wonderful post out there in the social blockchain that needs upvoting. Besides using your own voting power to upvote your content does not give you the satisfactory result your need.
Allowing other people curate and comment on your post makes you not to look invisible and gives you the ginger or encouragement you need to write another post.

Using your voting power on yourself to me is a waste of voting power and shouldn't be encouraged. Hence, when your post is been upvoted by yourself, it brings out low rewards. In the process of looking for great post on the social network to curate helps brings out those interesting post and also encourages the authors of the various post to work harder.




Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?



To be able to explore the coinmarketcap site, the following steps are required shows that and how to explore the STEEM COIN to get other required information.


CAP1.JPG
[screenshot taken from https://coinmarketcap.com/@gi-de-on.]


  • In the search section above, you input the keyword STEEM.


CAP2.JPG
[screenshot taken from https://coinmarketcap.com/@gi-de-on.]


  • All the required details of the coin will been shown as in the photo below.

CAP5.JPG
[screenshot taken from https://coinmarketcap.com/@gi-de-on.]


The details are:

  • Steem price ($0.635)
  • Coin market cap ($247,374,243)
  • Rank (Rank #192)




What are the different tokens do you earn by socializing in Steem Blockchain? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?



When a content that has been curated pays out after the 7th day, there are numbers of rewards we get which comes in different forms.

  • SBD: The abbreviation which simply means STEEM DOLLAR is a cryptocurrency token that is the primary earnings of the steemit blockchain. The SBD is in turn been changed/used to purchase STEEM on the steemit blockchain.

  • TRON (TRX): This is also a cryptocurrency that is been earned along side with the SBD & SP. The Tron coin is been set to be gotten at same ratio with the SP which is (1:1). That is to say if you get 1 SP you get 1 TRX.

  • STEEM: The steem coin is a cryptocurrency that has been in existence since 2016. it is a reward the steemit blockchain users get for creating an original and good content. This can be gotten by using the SBD obtain to purchase this coin.

  • STEEM POWER (SP): Along side with TRX this reward is gotten. This gives a steemit blockchain user the liberty/authority to curate on other peoples contents. Hence, the steem power is been rated the same as steem. Just tha their major difference is that the steem is in liquid form while the steem power is rigid. This can be converted to steem by simply powering down.

Steem Power can be gotten from creation of good and original content. Also, it can be gotten from powering up an account.

  • ACCOUNT REPUTATION: This is also a form of reward gotten from creation of good contents and when a content is curated by someone with high steem power. Account reputation can be set as a criteria for participation in a particular community or taking a task as it is been done in steem cryptoaccademy.

The above listed is simply for the author. While the curators reward only comes in STEEM POWER (SP).


How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?


TRX earnings gotten on the steemit social blockchain system can be simply transferred to an existing TRONWALLET. This serves can help serve the purpose of optimizing earning in the Tron Ecosystem since a link has been establish through them.

Also, the TRX earnings in the steemit blockchain can be used for staking so rewards can been earned. Also, by freezing my TRON coin for a particular amount of time will help optimize earnings in the tron ecosystem.




CONCLUSION

I must say the class was really an interesting one. All thanks to prof. @sapwood for this very wonderful class.

I must say, the steemit blockchain been a decentralized social system has made things a lot easier for it users and this will lead to an indeed very rapid growth in the entire steemit blockchain and it users.




THANKS FOR READING GUYS.
CC: @sapwood (prof.)
CC: @nane15 (prof.)
ALL SCREENSHOTS WHERE SITED AND WERE TAKEN BY ME.


Sort:  
Loading...

Coin Marketplace

STEEM 0.14
TRX 0.24
JST 0.032
BTC 86005.47
ETH 2182.32
USDT 1.00
SBD 0.94