Steemit Crypto Academy Contest | S10W5 | Getting to know Mvest
Hello Everyone!
Today I am going to make my entry in Steemit Engagement Challenge, Contest given by Crypto Academy. Crypto Academy contests are always interesting and informative and so is this week's topic which is getting knowledge about Mvest.
What is Mvest?
It is the measurement unit of Steem Power because we can measure SP through Mvest in our account and vice versa. One Mvest is equal to 1 million vests where 1 Steem Power is equal to 1758 vests. Mvest increases the influence of a user on the steemit platform. If we power up steem it increases the amount of Mvest in our account.
More Mvests has many benefits for the users such as it increases the influence of a user in voting like more Mvests increases our voting influence.
It also increases the curation rewards that one gets when they vote. This also depends on the Mvest, more SP is equal to more Mvest and hence greater rewards.
What is the relationship between Mvest and Steem?
Mvest and steem are interrelated. When we convert our Steem to Steem power it increases our Mvest. If I power up 568.508 Steem to my power it will give me 1 Mvest, which is equal to 1 million vests.
More powerup will increase the Mvest value of our account and if we power down it will decrease the Mvest value of our account and hence decrease our account worth and influence.
We get steem in author rewards from our posts which is liquid steem. We can say that Mvests are complementary to Steem power, if we power up steem we get vests with it added to our account’s Mvest value.
More powerup more mvest increase. More influence, more voting power.
How many Mvest does your account have? Show screenshot.
Currently my account has 11351.25 Steem Power.
If one Steem Power is equal to 1,758.988639 Vests.
From Steemworld
568.512 Steem Power is equal to 1 Mvest or one million vests. Got this information from https://steemdb.io// I am sharing the screenshot below.
According to the current conversion rate, We will find out the Mvest equal to my SP by dividing 11531.25 by 568.512 which is the conversion rate.
11351 ÷ 568.512 = 19.96 Mvest.
So, currently my account has 19.96 Mvest.
Assuming that your account has 35,000.00 Steem Power, how many Mvest is it equal to?
As I have already checked the original Mvest my account has Now, I will assume if my account has 35,000 Steem Power I will follow the above methodology for finding out the Mvest equivalent to 35,000 Steem power.
35,000 ÷ 568.512 = 61.56 Mvest.
According to the results If I assume that I have 35,000 SP in my account then I will be having 61.56 Mvests or 61,570,084 Vests.
Conclusion
In conclusion, Mvest and Steem are related to each other. Mvest, enables users to determine their influence and their voting worth on Steemit. In the process of power-up, when users increase their powers they automatically increase their Mvest balance, thus strengthening their impact on the platform.
I would like to invite my friends @jyotithelight, @eliany and @malikusman1 to participate in the contest.
Congratulations! Your post has been upvoted by @steemladies. The community where the Steemian ladies can be free to express themselves, be creative, learn from each other, and give support to their fellow lady Steemians.
Fantastic post, @janemorane! Your explanation of MVEST in the Steemit Crypto Academy contest is concise Yet comprehensive . I appreciate how you simplified the concept & highlighted its significance within The Steemit ecosystem . Well done!
TEAM 4
Congratulations! Your post has been upvoted through steemcurator07. Good post here should be..Hello @janemorane friend 👋
I have just read your post in the crypto academy which is about Mvest. Your post is really well written and researched. I really appreciate your efforts and points that you explained about the Mvest on the Steemit platform.
More success to you 🤗
Mvest and Steem are closely interconnected. Mvest plays a vital role on Steemit by allowing users to gauge their influence and voting power. Through power-up, users can enhance their abilities, subsequently boosting their Mvest balance and amplifying their impact within the platform.
Best wishes for you
You are very right, Mvest is very important for users to work on steemit.
Thanks for your comment dear.
Thank you for your kind words! I agree, Mvest is indeed crucial for users to engage effectively on Steemit.
Hola amiga ¡Feliz día!
Me alegro poder leer su excelente contenido. Respondió muy bien todas las preguntas
Ciertamente el Mvest aumenta nuestra influencia en esta excelente plataforma y por ello los steemians deben tener el compromiso.
Pudo explicar de manera acertada la relación que existe entre el Steem y el Mvest. Además estaba muy clara con la definición de un Mvest
De manera muy organizada pudo elaborar los respectivos cálculos y me parece maravilloso. Felicidades por su gran desempeño. Mil Éxitos para usted 🙌
Saludos. 🌻