STEEM AND TRON- STEEMIT CRYPTO ACADEMY SEASON 5- HOMEWORK POST FOR TASK 2 BY @jerryivan || To @sapwood

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It is my pleasure to be here on steemit crypto academy. Concerning the homework task, after going through the lecture given by Professor @sapwood, I must confess that the lecture itself was self explanatory, well-detailed and well taught. Thanks to my honourable professor @sapwood for that wonderful lecture. God bless you!!!.

I came to understand that steemit crypto academy community is a unique platform indeed that helps to expose knowledge on different cryptocurrencies and blockchain technology to crypto users. Am happy to be here.

Without wasting much time, I will be answering the following questions with intensive research and no trace of plagiarism.

QUESTIONS

  • What Is poB?.
  • What does curation mean to you in steem-Blockchain?.
  • What are the benefits of building SP?.
  • How do you explain self-vote as good or bad social behaviour and 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 the TRX earned in steem Blockchain to optimize earning in Tron ecosystem?.

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  • WHAT IS poB?

    poB which is known as the proof of brain is simply described as an integrated mechanism that helps the steemit platform to behave as a social platform for the monetization of quality content by users of the network. There are some characteristics of poB and they include;

THE REWARD POOL:- The reward pool is a proportion of fresh tokens that just arrived on the steem Blockchain. These tokens are usually used normally for content and curation for the purpose of monetization. It makes use of a steady rate of about three(3) seconds to gather tokens and therefore allows 65% of the rewards pool to be beneficial to both the author and the curators as a role of the percentage of the poB.

THE VOTING SYSTEM OR THE WEIGHTED PARTICIPATION MECHANISMS:- This include the use of circulation and sharing of steem power to either affect positively ( upvote) or take back which is used to downvote tokens to the reward pool. Steem power affects the capacity or total amount at which a user can share rewards.

The main reason of this proof of brain is to engage users into working mentally and being rewarded for their quality contents. It provides members the opportunity to select content which will be useful to the entire community. Therefore in a nutshell, I will say that proof of brain is the Rewards of the brain usefulness.

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  • WHAT DOES CURATION MEAN TO YOU IN STEEM BLOCKCHAIN

    Curation simply means the process of analysing and adequately evaluating the originality and authentication of any content before casting a reward (upvote) or to take back (downvote).

That shows that every content written and posted are meant to be analysed by different users in the community and if the content is helpful and also informative, then that only will make them to cast an upvote on the content. Curators are simply those that find content written and posted well interesting and also cast a worthy votes on those content, while the authors are the composers and writers of the quality content.

Original and good quality content often receives more vote from users. Curation on post by users are usually after seven(7) days as fund in form of tokens and reputation.

STEPS TAKEN FOR EVALUATION BEFORE CURATION

Some of the steps to take include;

  1. Intensive reading of the content that was posted.
  2. The contest is test runned to make sure is plagiarism free.
  3. Analyse the contest to know the value it adds to the entire community.
  4. Finally, if the content is plagiarism free then a vote is being casted. The curators can either make some suggestions, correction in the comment box and likewise share the post.

But in any case plagiarism is found, sometimes such content in the community are downvoted or muted.

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  • WHAT ARE THE BENEFITS OF BUILDING SP?

    SP also known as the Steem power is a measure of the capacity of any user to affect the steemit platform. Any individual that has much steem power has greater effect when curating a content than the individual that has little or lesser steem power.

Steem power also plays a vital role in moving one to the next level and obtaining effect and values on steemit platform. Some of the benefits of steem power include;

THE REWARD POOL:- Any individual with much steempower tends to receive more curation rewards from the reward pool. The more the steem power increases, the greater reward you stand to gain as you upvote.

ACTIVITIES:- The number of steem power available is a fair function of the number of activities to be performed daily.

INFLUENCE:- It is also another benefit of steem power because the more steem power you have, the more effect you will have on steemit platform and more voting weight will be given to authors.

TRON REWARDS:- As one of the benefit of steem power, it also affect the earning of Tron. The reason is that for any SP a Tron is given that is to say 1SP, 1Tron. Still on the benefit of steem power, any individual with much steem power easily attract more followers and go along with people of like mind to make the steemit platform more effective and more efficient.

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  • HOW DO YOU EXPLAIN SELF-VOTE AS A GOOD OR BAD SOCIAK BEHAVIOUR AND WHY?

    First of all, self-vote as the name implies is the act whereby a writer or the author of a content casts votes on the content which he or she have written.

Now concerning whether self-vote is a good or bad social behaviour; for me I will say it is a bad etiquette and looking at it from an ethical standards, it is very unreasonable and therefore should be discouraged among people who are involved. An individual who has written a post suppose not to allocate reward to them.

WHY?

The reason is that the steemit Blockchain was Structured to give other users the opportunity to access and analyse the originality of the content before passing a well deserved vote for it. It also permits users to involve in interactive sessions and get rewards for them.

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  • EXPLORE COINMARKETCAP.COM TO INDICATE RANK, STEEM PRICE AND COIN MARKET CAP OF STEEM (SCREENSHOT REQUIRED)

In exploring the coinmarketcap.com to indicate the rank, steem price and the coin market cap, here are the steps ;

  1. First of all, you have to open your desired browser and visit https://coinmarketcap.com/currencies/steem/
    The link above moves you directly to coin market cap site.

  2. Then, on the homepage of the coinmarket cap site, you will see the details of steem rank, steem price and coin market of steem

As of the time I was making this research and navigating the coinmarket cap site at https://coinmarketcap.com/currencies/steem/
I got the following details

STEEM RANKING#323
STEEM PRICE$0.4611

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screenshot taken from coinmarketcap.com, designed with inshot

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  • WHAT ARE THE DIFFERENT TOKENS DO YOU EARN BY SOCIALIZING IN THE STEEM BLOCKCHAIN?

Basically, there are three(3) main tokens that can be obtained by an individual on steemit platform that is generated from the Blockchain on daily basis. They are;

  1. STEEM:- This is the core underlying basis of the steem Blockchain that is used to measure the worth of a content on steemit platform. The price of steem as of the time I made this research was $0.4611 and it's market capitalization is $2,263,610,060.

  2. SBD:- SBD known as steem Dollar is a variant intermediary between the steem Blockchain and the dollar(USD). The main goal is concentrated on placing the actual value of the dollar (1SBD = 1USD) though there might be changes in external market to the steem Blockchain.

  3. SP:- SP known as steem power is quite a non-transferable token that is gotten from steem Blockchain. It really affect and permits individuals on the platform to carryout different activities like voting, resteeming and commenting on post. The biting activities is definitely related with the amount of steempower any user possesses.

The steem power is received seven days after a post is made and paid and this is known as the Payout whereby the steem power is evenly shared among the author and the curators of the post. The payout of the curators are always in steempower while that of the authors reward id 50% SP / 50% SBD or the author can decide to set how his or her earning will be received either by setting it 100% SP or even decline reward. Thats based on his or her choice.

To add to that, there is an existence of Tron partnership that gives the opportunity to get Tron in some logical sequence whole earning SP knowing that every 1 SP , a Tron is earned.

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  • HOW WOULD YOU USE YOUR TRX EARNED IN STEEM BLOCKCHAIN TO OPTIMIZE EARNING IN TRON SYSTEM

The basis of optimization of Tron earned is very essential on steemit platform.

I use the opportunity of earning TRX by linking it to my TRON wallet where it is being solidified and gathered. TRX is usually used in TRON ECOSYSTEM to carryout activities like voting and earning automatically as the TRX increases.

Any TRX reward that I get from steemit platform is instinctively transferred to my designated TRONLINK wallet. That is where it is safely kept until it reaches its maximum amount I can make use of it.

CONCLUSION

  • poB (proof of brain) definitely permits individuals on steemit Blockchain to gain rewards for their creative effort in generating original quality content that can be very helpful and informative to the community. Again, it gives room for good creative authors or writers to exploit the steemit platform in order to gain rewards.

  • Users of the steemit platform are not encourage to involve in self-vote since the platform uses a system of social platform that permits different individuals to check the quality, authenticity and genuiness of a content. It is an absurb and unprofessional for an author to self vote his content.

  • Finally, Token from steemit Blockchain can be earned in three (3) form which are the steem, steempower and the steem Dollar (SBD). TRX on its side sideis earned along with every SP gotten from the platform and can be optimized by securing and storing it on the Tron link wallet.

I want to sincerely appreciate my professor @sapwood for the wonderful lecture. My research on this opened my eyes to new things that I needed to know on crypto currency and more about steemit Blockchain.

Best regards to @sapwood, @shemul21.

Thanks for reading, God bless you!!!

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