STEEM & TRON - Steemit Crypto Academy Season 4 - Homework Post for Task 2.

in SteemitCryptoAcademy3 years ago (edited)

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HOMEWORK Task-2-Entire question
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?

What is PoB?

This POB is a method for reducing the higher energy losses in the Proof of work system.
Here 65% of the rewards which are in the reward pool will be distributed and redistributed via users. For this, the Steem power will be the main factor that is being considered, because the amount of the reward you will get will vary according to the amount of SP you’ve got.
Another method is that, the Steemit blockchain uses the wisdom of people to differentiate the good contents from the bad contents.
So together with reward pool,SP and the wisdom of people; Proof of Brain could be identified clearly.

What does curation mean to you in Steem Blockchain?

For me curation is a big asset in Steemit platform which includes several methods.
Normally when someone posts on the platform, the curators will read the post to identify the valuables of the post and then comment or up vote or down vote with his/her SP. Also curation is being taken place to sort out whether the content is plagiarized or not; however if it is so, then the curators will inform the main curators(curator1&2) for taking necessary action. Also redeeming is another part of curation which shows, with the identification of a good content, the curators can share the content among his followers.
Not only that but also with curating, both the curator and the author would have a chance to earn SP.

What are the benefits of building SP?

  • In the Steemit platform, holding SP is always a good practice not only for the present usage, as it could be used as a good future investment too.
  • When building up the Steem power, it will increases your voting power and thereby gradually this will be useful for the other authors to get more votes.
  • If you have a high SP, then you will be able to get high curation rewards also because the main curators will check your SP before their curation.
  • As you can see the Steemit wallet, TRX is given as a bonus.Mainly this TRX is given as 1:1 Sp to TRX ratio. So higher you build up your sp, more you can earn TRX.
  • High SP values may give you a chance to attract more followers to your account.
  • When concerning about the security of the account, it is more safety to keep it as SP rather than steem /SBD beacuse even though you get hacked, it may take one month for a total power down and with that time you have the chance to recover your account.

How do you explain self-upvote as a good or bad social behavior & why?

Once an author curate his/her post by own, then it is called as a self up voting. For me, self up voting is not a good move at all because once you vote for your own post, automatically you have accepted your mistake, plagiarized contents etc.Not only that,but also once you vote for your own posts, the voting power and vote for other authors posts will also be deducted as well.
So these reasons have led me to think that the self up voting is a bad social behavior and also it will low the quality and the value of POB as well.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
There are huge amounts of crypto currencies which are available today. So if a person wants to know their respective rankings, prices, market cap,market supply, market volume, coinmarket cap is the most ideal place to get a broad view.

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Screenshot taken from Coinmarketcap

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Screenshot taken from Coinmarketcap

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Screenshot taken from Coinmarketcap

What are the different tokens do you earn by socializing in Steemit Blockchain?

The people who are involved in the Steemit blockchain can earn tokens like Steem,SBD,Sp and Tron.
Steem- steem is the primary coin of Steemit blockchain. As mentioned earlier in this post, power up is an essential thing in the steemit blockchain, so, to do that you need Steem.Also if you have SBD in your hand, then you can trade your SBD in to steem or you can add to exchanges because exchanges only have the steem coins to other coin pairs.
SBD-Steem back dollar is the token that you are earning as a reward by the curators. In a nutshell curator rewards includes SBD and SP.As mentioned earlier this token can trade an can get Steem coins.Also SBD is also known as stable coin as well.
Steem power-Mainly this can be gained by the curation rewards .Apart from that, SP can be gained or regained by a process call power up and power down.When thinking about the value, SP and steem both have the same value but the only difference is you can’t trade Sp because it is not liquid.More Sp in your account may leads you to get high curation rewards as well.
TRX-Tron (TRX) is a bonus token that we can gain from the Steemit platform.When we get rewards by Sp then we can earn TRX at a ratio of 1SP:1TRX.But not like Sp we can trade TRX in exchanges.

How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
The earned bonus TRX tokens can be used for many purposes in the tron ecosystem.

  • You can trade your earned TRX to-earn other tokens with the use of DApps
  • Staking TRX in exchanges like binance will give you extra opportunity to receive more TRX tokens
  • Also we can connect our earned tron in the steemit blockchain to the TronLink wallet and saved the TRX in that wallet.
  • Freezing TRX will not only give you a compensated but also it will indirectly avoid the instability of the system as well.
    So, all these tasks may leads your earned TRX in the Steem blockchain to maximize the earnings in Tron ecosystem.

Thank You @sapwood for giving us such a knowledge and I learned a lot through this article.

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