Steemit Crypto Academy Season 4 Beginners' course - Homework Post for Task 2: by kinzaghauri
I'm @kinzaghauri, and I was introduced to the World of Crypto a while ago. I started Crypto lectures from @steemit-pak and now I'm excited to be a prt of #SteemitCryptoAcademy Season 4 : Introductory Courses for Beginners.
The Course that I chose first is about Steem and Tron.
Task 2: STEEM & TRON
Proof-of-Brain
PoB: Proof-of-Brain, as explained by many, is form of a Consensus Mechanism. This Consensus Mechanism allows the users to be rewarded based upon the quality and uniqueness of the content that they are creating. So Steemit, works on a Reward System, that ill be explaining more about.
Proof-of-Brain consists of a Reward Pool, which includes all rewards that the Steem it creates. Steem Power, which tells us how much influence the user has in the community. The higher the Steem Power, the greater the influence. And last but not the least, the Wisdom of people in deciding if the content is original, Quality work or not.
The Rewards System is basically a Social Treasury, where the whole reward does not directly goes to the Creator, but there is a proper mechanism to where the entire reward is distributed. Half of the reward is distributed to the author, while the other half is distributed to the curators.
Source | Source | Source |
---|---|---|
-Reward Pool | -Wisdom of people | -Steem Power |
This, in turns , makes Proof-of-Brain
Curation in Blockchain
If you are already a user on Steemit, you will know what curation is. So, curation is basically the art of finding and selecting content that is worth voting for on the platform. It is just like liking and commenting on facebook, except that it has the potential to reward the author with Cryptocurrency.
- The first step is to find and select content that is worth spending your time on.
- Once you are done with the first step, the next step is to carefully evaluate the entire article in terms of quality and originality.
- If you find the article to be completely unique and trustworthy, you can go on and up-vote, Re-steem and comment on the post to increase the reach and value of the article.
- Up-voting is like rewarding the author depending on your SP.
- Re-steem is like sharing it with your followers
- In case the content was copied from somewhere else, you have to infirm the authorities and can also down vote the post.
The process of doing all of the above things is what is known as Curation
Benefits of Steem Power
SP -Steem Power or Stake- Weighted Power or Influence Power is the amount that will allow the user to make more curation reward and also give more money when you up-vote other people.
So, imagine if I have 0 SP, my up-vote will not count for anything at all or it will give even less than a penny. My curation reward will also count for less in the blockchain.
It is very beneficial for you to power up your Steem into steem power:
- It allows you to take part in certain contest and competition that have a certain limit of Steem Power as eligibility Criteria.
- the more steem power you have, the more authority you have on Steem it.
- It helps you make more money.
- Powering Up your Steem is very beneficial to the Steem it community as well because if you exchange your steem out, the voting power decreases and the deserving authors might get less reward.
- The higher Steem power will get you more curation rewards as well.
- Steem Power can also get you a huge following on the Steem it platform.
Self Up-vote: A bad Social Behavior
As mentioned earlier in my previous question of content curation, we talked about how the content or post passes through a process of selection my other people, where they make sure the content is unique to the platform and contains original and trustworthy content.
Up voting yourself just shows that you are not confident about your own content, and it might also contain plagiarized content which is not good for the Steemit Platform itself. We should refrain from this bad social behavior at all costs.
If your content is unique, you should not be worrying about voting yourself because the Steem it Curators will diligently find your content and up vote it.
Coinmarket Indicators
Here are the indicators:
Token on Steemit Blockchain
These are some of the token that can be earned in Steem Blockchain
Steem | Steem Dollar | Steem Power | Tron |
---|---|---|---|
-Steem is the main cryptocurrency of the Steemit blockchain, that can be traded anytime you want. Steem can also be upgraded to to Steem Power | -Steem Dollar is another liquid currency which can be transferred anywhere anytime. You can also exchange your SBD into Steem. | - Stem Power is the influence power that you get by upgrading your steem | - Tron is the cryptocurrency of Tron ecosystem which just like Steem and SBD can be traded anywhere anytime |
Optimizing TRX
Here are some way that you can use your TRX earned in Steem Blockchain to optimize earning in Tron Ecosystem:
-By earning a huge about of TRX, the user can earn a lot more authority. Just like SP, by increasing your you can earn the level of SR which is the Super Representative, which gives you a lot of influence.
The whole system is known as Voting and Governance.
Conclusion
Steem and Tron are the basic token of Steemit Blockchain and if you learn how the Steem it platform works, you can really go a long way. This course was just a small description of everything.