Crypto Academy Season 3 Beginners' Course - Task 1: Steem and Tron | Homework Post for Professor @sapwood
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Introduction
Hello everyone,
I count it an opportunity to participate in season 3 week 2 crypto academy. My knowledge about cryptocurrency is appreciating everyday. I can confidently say, this platform does not only reward, but also build up every student in the world of crypto. My appreciation goes to Professor @sapwood for giving us detailed explanation on Steem and Tron.
Having gone through the powerful lecture Prof delivered in a very creative way, I have gotten answer to many questions I have been seeking answers to since I joined this great platform.
Three questions were posted in the homework section, of which one question should be taken. Therefore, I will be giving answers to the first question Prof @sapwood posted. Let's get into the business.
QUESTION: (1) What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? B 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?
Let me begin by explaining what PoB means in my own word. Let's go there😁
What is PoB?
Simply put, PoB means Proof of Brain. It is the creative idea or thinking and intuitive decision of a person that is grouped together in an appealing way through writing , acting, drawing etc to create quality content for general public.
PoB is the combination of reward pool, the influence power which is normally called Steem power, the weighted mechanism and non dependent knowledge to determine whether a content is good or bad. The newly minted token are accumulated in the steem blockchain pool. The reward collectes from this pool is called Reward pool.
Also, user can distribute and redistribute reward with their stake weighted mechanism(SP). This support proof of brain and quality content created by every user.
Lastly, it empowers the creative idea, and wisdom of every user because it is a decentralized system. In essence, the reward pool, good and independent knowledge to judge quality content and the stake weighted mechanism which is otherwise known as influence power are what is called Proof-of-Brain.
Meaning of Curation in Steem Blockchain?
What does curation mean in Steem Blockchain?
Curation entails so many things in steem blockchain.
Some of this things are highlighted below
• Reading a post
• Checking the originality and the content's source
• Does the content read add value, if it does, creatively engage and probably add personal things to better redefine it if needs be.
• Otherwise, point the content out and let the community know such content.
• If the content is useful, upvote it with available resources like voting weight, voting power.
• Lastly, you can resteem such content for many people that are following you to see it and probably get value from it as you did.
All these steps listed above is called CURATION in steem blockchain.
What are the Benefits of Building SP?
SP which is the Steem Power is the influence of every user to perform a task. There are alot of benefit of building steem power.
- It helps user to gain access to crypto academy. When I wanted to join crypto academy, I was not eligible because I didn't meet the requirement. Few days ago, I had to power up to meet required steem power for the beginner academy.
- More benefit from reward pool: The reward pool always favour who have more steem power. So to receive more reward, it is advisable to build steem power.
- Recognition: Building SP has a way of making those who build it noticeable to the general public. The reason why I said this is that when I joined steemit, for sometimes, I was searching for people who have high steem power to connect with them and I know many new comers will do the same.
- Community Building: Holding Steem Power helps in building steemit community. Have you thought of it that if everybody powers down their steem power, who will be doing upvote of contents? Nobody. So, building steem power directly helps to keep community together.
How Do you Explain Self-Upvote as a Good or Bad Social Behavior & Why?
In my own personal opinion, self-upvote is bad. The reason is that the content a user created should be judged by others not the author himself. It is those who read and get value from what is created that should decide the upvote of the content. Another reason why it is bad is that the percentage of the voting mana or power that ought to be used to upvote others will be hoard and this will have effect on the steemit community.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
To explore coinmarketcap to know the rank, price and coinmarketcap of steem, go to coinmarketketcap.com
When you open it. You will see the home page like the screenshot uploaded below
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After this kindly search for "steem" in the search button by the upper corner of the page.
Check this in the screenshot below
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Type steem and click it.
Check the screenshot on how to do that below
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The a page will be displayed where you will get access to the price of the steem, the rank and and market cap The current price of a steem as at today, Friday 9th of July 2021 is $0.3609. The steem rank is ranked 183 in this exchange platform.
Below is the screenshot of the current price and rank of steem.
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Another important imformation is coinmarketcap of steem. The current coinmarketcap is 142,529,805.1
Below is the current coinmarketcap of steem
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What are The Different Tokens You Earn by Socializing in Steem Blockchain?
The token that is earned by socializing in steem blockchain are STEEM, SBD and SP. This reward is normally paid after content has reached 168 hours or 7days. For an author, it can be in form of different form of reward for different Debt Ratio.
Check the table below to see the reward earn by socializing on steem blockchain
| Author Reward | Debt Ratio |
|---|---|
| SBD+SP | below 9% |
| STEEM+SP | above 10% |
| STEEM+SBD+SP | between 9% and 10% |
In addition to this, TRX is also earned along with this reward. For every one SP one TRX is earned.
Conclusion
The knowledge gained in the detailed explaination of Steem and Tron is extremely valuable because it opened my eyes to so many things I didn't know before. The importance of this course can never be overemphasized as it dissects and carefully introduces the importance of steem and trons, the meaning of proof of brain, curation, and voting analysis etc. Therefore, this course should not be taken by few individuals, it should be taken by every user of this great platform for them to know the aforementioned importance.
Written by: @msquaretwins
CC:-
@sapwood
Dear Prof. @sapwood,
Thank you for labelling me in steemit crypto academy. I saw that you have labelled me "Newcomer[Task-4]". However, I have not done task four, I just submitted my homework for task 1.
Thank you.
Hi @msquaretwins, Thank you for taking interest in the 1st Task of the Beginners Fixed Class. Your grades are as follows:
My Review and Suggestions:
You have completed the task well.
You created an article with a very good structure, great work!!
You made a picture with a good explanation, good job!
There are some grammatical errors, please pay attention to grammar before posting.
Vary headers and sub-headers to make them look more attractive.
Thank you!
Suggestion noted.
Thank you so much prof. @wahyunahrul.