STEEM & TRON - Steemit Crypto Academy Season 5 - Homework Post for Task 2
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Hello! I am @idaali. This is my second class of Beginners Level Introductory Courses where Professor @sapwood was in charge to give lecture for us. Today, I am writing my homework based on the first question about PoB.
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?
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What is PoB?
First time I heard about PoB or Proof of Brain is when I wrote my Achievement 3 in Newcomers’ Community. According to STEEM / BLUE PAPER, Proof of Brain is one way for cryptocurrency users to get rewards by producing works that come from their own creativity and brain. An example of a cryptocurrency that uses Proof of Brain is Steem.
Users can earn rewards by creating content. Then, other users or influencers on the Steem ecosystem will assess and provide an evaluation of the content. The higher the quality of the content is, the higher the chance for the content creator to earn more rewards which is steem tokens.
In other words, PoB is a stake mechanism to earn rewards by distributing and redistributing valuable contents from reward pool.
What does curation mean to you in Steem Blockchain?
As far as I understand, curation is assessment or judgment duty through voting activity but it is done by someone or specific team account which has a large amount of steem power. So, the reward is greater than the reward from the accounts which has lower amount steem power than the curator account. If an account does not have enough steem power, then the account is not eligible to curate the post but it is eligible to vote. However, those who have steem power are also eligible to not give curation but only voting without give rewards.
Curation is not only given to article posts that are considered valuable but to valuable comments as well. Besides, the curator is able to earn prizes like the content creator gain rewards by upvoting the content post.
The rewards received by the curators also varied. It depends on the Steem Power the account has, the voting time and voting rate. Curators only can get 100% rewards if they vote after five minutes the post has just been published. Then, it will be calculated by the voting rate the curator gave to the post.
Furthermore, there are some tasks to do before giving curation on a post. For example, the curator must read the post thoroughly and indicate the content whether it is valuable or even harmful such as spam or has copyright issues. Let everyone know how the content is.
What are the benefits of building SP?
SP or Steem Power is steem token that used for strengthening users’ account to give more influence to others’ contents that circulated on Steemit. In the crypto term, it is known as stake-weighted mechanism on the reward pool. By building Steem Power onto our accounts, we can obtain advantages from it as below:
REWARDS
Those who have a tremendous of SP on their account will be able to generate more income through curation rewards and vesting. The rate is haphazard. It depends on the number of Steem Power they have. The more it is, the more rewards can be earned.
Moreover, the rewards itself also assorted tokens. There are steem, steem power, steem dollar and tron token which is TRX.
INFLUENCE
It is said that SP also can give benefits to other content creators. Not only giving benefits to other content creators but also influencing community. We can actively participate in the governance to keep the distribution flows smoothly. Additionally, we can be influencers on the blockchain system too.
How do you explain self-upvote as a good or bad social behavior & why?
It is not suggested to anyone to self-upvote due to the isolated judgment where it is not so sure that the quality of content is good. Mostly, it is considered as a poor content. Plus, the rewards must always be remained in the sub-linear zone. Therefore, it is hard for the community to discover the content.
To add weight on the statement, the reward algorithm that used on Steem ecosystem is convergent linear zone where the curators can meet an agreement that the content has good quality for the community consumption by voting it.
To illustrate, someone named A posted a content. Then, after curator named X read the post, Mr. X assumed that Mr. A’s post is valuable and voted it. After few minutes later, curator named Y also thought that Mr. A’s post is good and voted it too. After two days, there are curators have the same judgment towards Mr. A’s post. As result, Mr. A and the curators can earn more reward because they achieve an agreement that the post of Mr. A consists of valuable content.
Conversely, this agreement of judgment cannot be achieved by doing self-upvote. All in all, it is better for us to not self-upvote if there is no one considered our content is good enough. To earn more rewards, we have to understand the valid algorithms which work on Steem network.
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?
It can be seen from coinmarketcap that:
- Rank of Steem today is #311.
- Current steem price is $0.5967 (it is increase).
- Steem coin market cap is $234,894,158.
It is highlighted that the information above is indicator steem today on Monday, 15 November 2021.
STEEM
It is a native token under Steem blockchain. Steem tokens can be converted into Steem Power by conducting Power Up. In contrast, Steem Token Unit is more likely to be an ideal reward to be seen on post. If we click STU on each post, we can see the breakdown of the reward that the author can earn. The breakdown consists of SBD (Steem Dollar) , SP and TRX.
STEEM POWER
Steem Power is the tokens which can give the user more influence towards other users. It is a token to strengthen our account on Steemit. We can earn Steem Power from post-payout and also power up activities where our Steem tokens converted into Steem Power. It is also found that Steem Power can also be delegated to other users to help them building their account and generate more important contents and rewards.
SP can be change into Steem token again by powering down (not suggested) but cannot change it into SBD.
STEEM DOLLAR (SBD)
Although we can find ($) on each post, however, it is neither USD nor Steem Dollar. It is called STU, Steem Token Unit. Steem Dollar or SBD is a token that we earn from publishing a good quality post. We cannot convert SBD into SP directly. What we should do to building SP by having SBD on our steemitwallet is converting the SBD into Steem first. Hence, we can powered up the Steem tokens into Steem Power.
TRX
TRX is the abbreviation of Tronix, the cryptocurrency owned by Tron Foundation who already integrated with Steemit since 2020. Thus, the users on Steemit can earn TRX as their post-payout and maximize its benefits on Tron Ecosystem.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
Since we can earn TRX in Steem ecosystem, it is possible for us to earn more income in Tron ecosystem by optimizing the functions of our TRX tokens. There are some activities that we can do on the pool of Tron network like staking and mining liquidity tokens.
Under Tron blockchain, we can use different dApps like Sun.io. Here, we can stake our liquidity pool tokens and then mine them to generate rewards.
Other than that, we are also eligible to be active in the governance by voting Super Representative, becoming SR and the partners of SR.
References
- https://steemit.com/hive-108451/@sapwood/crypto-academy-season-4-beginners-course-task
- https://steemit.com/hive-172186/@cryptokannon/achievement-6-understanding-curation-and-community
- https://coinmarketcap.com/
- https://steemit.com/hive-172186/@cryptokannon/achievement-3-mentor-by-cryptokannon-content-etiquette
- https://steem.com/steem-bluepaper.pdf
- https://medium.com/hapramp/still-confused-by-steem-steem-power-and-steem-dollars-read-this-220ace402bcb
Special thanks for all professors on the Steemit Crypto Academy for giving extraordinary classes about cryptocurrencies and blockchain.
Writer,
@idaali