Steemit Crypto Academy Contest / S10W5 -: Getting to know Mvest
Hi Steemians, The fifth week has started with very interesting contests. I am very thankful to the SteemitCryptoAcademy team for organising this beautiful contest. So let's start.
What is Mvest?
Actually, Vest is a unit measurement of Steem Power (SP) on the Steem blockchain, and 1 Mvest is equal to 1 million Vests. Mvest is very important because it determines the user's influence on the Steem blockchain and also the user's ability to earn Steemit rewards on the Steemit platform.
Also, It means a user's investment in the Steem blockchain and its influence on the network. The more Steem power (SP) a user has, the more Mvest he or she owns. And if a user has more Mvest, it means that it has more worth of votes when distributing the rewards on the platform.
When we hold Steem power (SP), then our SP is converted into VESTS. The more Steem power (SP) we have, the more Mvest we have. If we power up our Steem to Steem power, the amount of Mvest will surely increase, and if we power down, the amount of Mvest will surely decrease.
In short, more Mvest increases our influence on the platform and also increases our vote worth when we vote on the posts of quality content creators. It also represents a user stake or investment in the platform and shows our commitment to the platform. So this is my explanation of Mvest.
What is the relationship between Mvest and Steem?
We all know that Steemit is a platform that rewards quality content with different types of tokens like STEEM, SP, SBD, and TRX. STEEM is the native token of the platform, and STEEM tokens can be converted into Steem Power (SP) by powering up.
In the above question, I said that the amount of Mvest depends on our Steem power, and If we convert Steem into Steem power (Sp), then the amount of Mvest in my account will surely increase. The more power we have, the more Mvest we can get.
In the above screenshot, we can see that 1 SP is equal to 1759.13 VESTS. So If I power up 1 STEEM, that means I can get 1759.13 VESTS. The more I power up, the more VESTS I can get, which will be beneficial for me on the Steemit platform.
In short, as I power up my STEEM into Steem Power (SP), I will get VESTS, which will increase my influence on the platform and also increase my vote worth when I vote on quality posts. So this is the relationship between Mvest and STEEM.
How many Mvest does your account have? Show screenshot.
My current Steem power is around 17,543, so now I will check how many Mvests my account has. So in the above screenshot, as I put my current Steem power amount in the box and we see my current Mvest clearly. So according to my current Steem power, my Mvest is 30,860,685.70; you can also see it in the above screenshot.
Assuming that your account has 35,000.00 Steem Power, how many Mvest is it equal to?
Now I will check Mvests of my account assuming that my account has 35,000 Steem power. I will follow the same method to chekc my Mvest as I used in the previous question. In the above screenshot as I put 35,000 SP in the box the amount of Mvest appears, which is equal to 61, 570, 084.9078.
https://steemit.com/hive-172186/@malikusman1/achievement-1-by-introduction-malikusman1
WRITER:
Bhai Maine aapki post ko bahut gaur se pada hai aur aapane ismein bahut mufeed information share ki Hui hai Jo Ham sabke Liye bahut important hai ki Ham is information ko jaan sake aapane bahut achcha Kiya ki aapane sabse pahle vest ko explain Kiya or phir aapane mvest ko explain Kiya kyunki agar aap first terminology ko jante ho to hi aap dusri time ko explain kar sakte ho otherwise aapke pass Sahi concept Nahin hoga to ise jahir hota hai ki aapke pass Sahi concept hai aur aapane bahut mehnat ki hai is concept ko develop karne mein jo ki bahut acchi chez Hy
Aapane scenario bahut explain Kiya jismein humne 35000 power ko mind mein rakhte hue Apne Mvest calculate Karke batane the aur usse upar wale sawal mein aapane bahut achcha explain Kiya aur main aapki power dekh Kar aapko dad deti hun ki yah sab aapki mehnat ka hi Sila hai aur mashallah itni acchi team power ke sath aapke Mvest ki amount bhi bahut acchi hai jo aapki is platform per high reputation aur high influence ko show karva rahi hai.
Thanks for the detail comment.
Twitter share :-
https://twitter.com/MalikUsmanMuba2/status/1676498664326328321?t=HXES8202uC9QbLyJQIEuUw&s=19
We learn each day. Our ability to understand steemit inc. shows that we really love the ecosystem. Mvest is one of those things we must understand as users and you have shown your understanding of it . I am glad to see and read your entry. You are really doing well by powering up to increase your Mvest in the ecosystem, this adding value to the Blockchain. Success to you
Thank you so much friend for the comment.
Hi, your explanation is very easy, you have written quite well on the subject. For me it was almost not easy for me to write the topic but I did it finally. I enjoyed reading yours!
Success for your entry!
Thank you for visiting friend.
Hello brother 👋
You have posted a very informative Post. I have learned a lot after reading this. I really appreciate your efforts.
Success to you 🤗
Thanks for visiting.
Very nicely done, I appreciate your efforts in making this post.
Thank you so much for invitation I will participate for sure. :)
Thank you for the comment friend.
Bendiciones para usted 🙌
Nuestra influencia y poder de voto es muy importante. Por ello debemos adquirir el compromiso de aumentarlo para obtener más Mvest.
Cada encendido aumenta nuestro poder y el valor del voto en las publicaciones de los usuarios. 👍
Excelente entrada, donde nos explica muy bien sobre un tema muy importante.
Le deseo éxito en el desafío 👍
Feliz tarde. 🙏
Hello friend thank you so much for visiting my post.
awesome entry, congratulations on your high amount of SP. good luck on the contest
Thank you friend.
Thank you for providing additional information about Vests and Mvests on the Steem blockchain. It's interesting to learn that Mvests play a crucial role in determining a user's influence and ability to earn rewards on the Steemit platform based on their investment in the Steem blockchain. The concept of Mvests seems to be a significant factor in the distribution of rewards within the Steem community.
Thank you so much for the comment, I am happy that my post gives you information about MVESTS.