Crypto Academy Season 3 Beginner's Course||Homework Post for Task 1: Steem and Tron by Professor @sapwood written by @lazbless

in SteemitCryptoAcademy3 years ago (edited)

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Image source @sapwood

Introduction

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Greetings everyone, I'm excited to finally be a student of this unique academy although it wasn't easy going through the course because Before now, I had little or no idea about crypto currency but I overcame at the end, thanks to Professor @sapwood and below is my homework and the answers.

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Question 1:

What is PoB? What does curation mean to you in steem Block chain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior and why? Explore coinmarketcap.com to indicate rank, steem price and coinmarketcap of steem (screenshot required) What are the different tokens earned in socializing in steem Blockchain?

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Having gone through this course, my answers to the following questions are as follows;

What is PoB?

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In my own understanding, POB first of all is an acronym which stands for Proof of Brain. This means that Steemit as a decentralized platform is empowered by the wisdom of people to make good contents or determine bad ones. PoB is the ability of a steemian to create good contents that is beneficial to the public and also plagiarism free

PoB comprises of an individual psychological ability to detect if a content is good or bad. It is also the combination of influence power which is otherwise known as steem power and also reward pool. The reward pool is the newly minted token which is accumulated in the steem Blockchain pool. While influence power is the stake weighted mechanism.

PoB is also the ability to be creative, that is; producing quality content that is different from some other person's own.

What Does Curation Mean to You in Steem Blockchain?

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Curation in my own understanding is reading a post and confirming the originality of the post. It also means distributing information and also checking if a post is plagiarized and communicate to the community in other for the community to determine to what extent the article is harmful to.

Curation moves forward to mean upvoting an article which is seen to be useful or important either by using SP, VP or voting weight. Curation finally means resteeming a content to a personal blog in other to share it to fellowers.

What are the Benefits of Building SP?

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The benefits of building SP is divided into two. They include;

  • Monetary Benefits which includes, curation reward and reward mechanism

  • Non-monetary benefits. Includes;

  • Actively participating in Blockchain governance

  • It helps to build a community because with building up SP, Steemians won't be cashing out everything. And with this, the community will still have people who can upvote because their steem power is still intact and is increasing everyday.

  • Personally, the benefits of building up SP is my ability to be a student in this Academy because without building up my SP, I wouldn't have been eligible to join.

  • Finally, a steemian who builds up his or her SP will become an influencer and will also attract friends with bigger SP.

How do you explain self-upvote as a good or bad social behavior and why?

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In my own personal view, I will say that self-upvote is 10% good and 90% bad.

The good aspect is that; you'll be getting to vote your article anytime you want to and not necessarily having to wait for curators to come and vote you.

And the bad aspect is that you'll be voting both quality and non-quality articles made by you. You might even plaigarized a content and you'll still vote yourself. Come to think of it, if everyone gets to be upvoting themselves, what will happen to the new comers who do not have any voting power? Who will be voting them? With this few points of mine, I don't see self-upvote as a good idea. It is as bad as crashing a particular community or the platform at large.

Explore coinmarketcap.com to indicate rank, steem price and coinmarket of steem(screenshot required).

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The homepage

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Image source @screenshot from Google

I now type steem on the search page and click on search, below is the screenshot of the search result

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Image source @googlescreenshot

From my search I realized that as at Saturday 20/11/2021 steem rank was #305 and steem price was $0.6183, below is the screenshot.

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Image source @googlescreenshot

Also from my search, I found out that the coinmarketcap of steem as of Saturday 20/11/2021 is $243,620,859.40.

What are the different tokens do you earn by socializing in steem Blockchain?

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The following tokens are earned by socializing in steem Blockchain. SP, SBD, STEEM and TRX. It is also worthy to note that 1SP is equivalent to 1TRX. While 1SBD equals 1USD. An Author's SP gets converted from SBD while the Curator's SP gets converted from USD. This is because Steem token is a combination of SBD and USD.

The token pays out after a content is 7days old.

Author RewardDebt Ratio
STEEM+SBD+SPbetween 9% and 10%
STEEMabove 10%
SBD+SPbelow 9%

The reward comes in different form and each form carries a different debt ratio. The table above explains this.

Conclusion

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Going through answering this question wasn't an easy task but I'm happy I was able to finish it. Thanks to Steemit for giving me this privilege and also opening my eyes on things I didn't know before now. Long live Steemit.

Best regards @cryptoacademy @sapwood.

Here is my Achievement1 Link

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Thank you dear, move on to the next task, soon you find it easier to do

Thanks ma'am for the lead, you're the best

You are the best too

Awwwwn 💃💃🤸

Coin Marketplace

STEEM 0.19
TRX 0.16
JST 0.030
BTC 63706.48
ETH 2637.61
USDT 1.00
SBD 2.83