Crypto Academy Season 3 Beginners' course - Task 1: STEEM & TRON by @kayduke
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?
What is PoB?
PoB, Proof of Brain is the composition of the reward pool, Steem power and amount of knowledge users contribute to the community. The reward pool is 65% of the total and is given to content creaters and curators for putting up quality and valuable post to the community. This percentage is shared between the author and the curator equally.
What does curation mean to you in Steem Blockchain?
Content curation is a process that goes beyond just voting. Curation is reading a post, identifying if it is void of plagiarism that is its originality, the contribution of the post or the post’s value to the community, vote and resteem or share the post to reach a large audience. Rewards (vote) is just an incentive to content creators and it is to promote originality and valued content creation in the community.
What is the Benefits of building up of SP?
Steem Power (SP) is simply influence power. The more SP one holds, the greater influence he has. It is a good thing to build and have a higher Steem power because of the benefits it comes with it. One benefit is higher rewards. The reward scheme gives priority to users who have higher SP. Another benefit is that, building SP helps to build the community and users with higher SP can support new users who join the community.
High SP holders also benefit from Tronx. Tronx has been integrated to the Steem wallet and the Tronx rewards is directly proportional to the size of SP where 1TRX = 1SP, meaning the more SP you have, the more Tronx you get.
High SP holders also have influence in the community so they tend to gain a large follower base.
How do you explain self-upvote as a good or bad behavior and why?
An upvote is supporting a post when you hit the upvote button and a reward from the reward pool is attributed to the post. Self-upvote is when a person upvotes his own post. Self-upvote is a bad behavior in the sense that, firstly self-upvote means you reward yourself for your own content and in so doing you don’t necessarily evaluate and see if the post is valuable. Self-upvote also does not add any value to the Steemit platform, it doesn’t encourage better content discovery because users upvote their own post without taking into consideration its quality or value.
Explore Coinmarketcap.com to indicate rank, STEEM price and coinmarketcap of STEEM.
Coinmarketcap allow users to get information on any cryptocurrency and also exchanges available. Follow this link to the website and explore any of the many cryptocurrencies and exchanges. For the purpose of this task, we look for Steem.
At the time of doing this work, Steem ranked 178th and the price was $0.3673 (refer to screenshot on the left). The Coinmarketcap of Steem was $143,838,354.08 (refer to screenshot on the right). The marketcap can be calculated by simply multiplying the total circulating supply of Steem to the current price of Steem.
What are the different tokens do you earn by Socializing in Steem Blockchain?
One important advantage of the Steem blockchain is the rewards it gives to its users for socializing on the platform. Users receive rewards when they receive upvotes on the contents they create.
The tokens you earn by Socializing in Steem Blockchain are:
- Steem: A tradeable cryptocurrency curators earn when they receive upvotes.
- Steem Power (SP): Simply influence power. The more SP you have, the more influence and reward benefits you gain.
- Steem Dollar (SBD): A tradeable cryptocurrency curators earn alongside steem. It can be traded for Steem.
- Tron: Curators also earn some Tron by socializing in the Steem Blockchain.
Conclusion
The Steemit platform is a very wonderful masterpiece which allows people to show their writing skills and get rewarded for putting up valued and good contents (PoB). Not forgetting that working on this platform aside the rewards can also help one appreciate all the issues around Cryptocurrency and can use that knowledge to make gains from trading Cryptocurrency. Remember, the most important issue the platform upholds highly in relation to content creation is Originality and Valued contents.
Thanks @sapwood for this introductory but very important lecture.