Crypto Academy Season 4 Beginners' course - Task 2 : STEEM & TRON
Hi Steemians..
(2) Explain the difference between [SP, STEEM, SBD] & [TRX, TRC10, TRC20 tokens](with examples)?
Explore Coinmarketcap.com to indicate the rank, coinmarketcap, and circulating supply of STEEM and TRX?
Which exchange are you familiar with where both STEEM and TRX are listed?
Does it cost any fee for transacting STEEM and TRX? How important is the use of Memo while transferring STEEM from Steemitwallet to an Exchange wallet, do you essentially need a similar memo for transferring STEEM from Exchange wallet to your Steemit wallet?
1) STEEM BLOCK CHAIN
Its Necessary to Mention first about STEEM because the Bitcoin blockchain has its own native token BTC, steem block-chain features a base currency. Steem is that the Native token of the Steem blockchain and SP and SBD show their value from the steem token value. Steem is listed on 30+ different exchanges and there are millions of Liquidity anyone can Buy and sale easily. Steem blockchain have 3 type of Token they have their own value
I. STEEM
This Token is always in Liquid you can sale anytime on Poloniex or Bitrex , the Mining of 1 block generates 2.88 Steem which is distributed to Content Creators & Curators (65%), Witnesses (10%), SP Holders (15%), and Steem DAO (10%).
II. STEEM POWER
At the steemit platform Steem power show your vote Value and make you unique.
SP locked for a particular period of your time . It was 13 week locking period and you get Fixed % on weekly but now Steemit reduced to only four weeks. Steem Power (SP) holders are paid 15% of the yearly inflation from the reward pool.
This is not Trade-able is freeze Steem you cant send send to anyone but you can Delegate for getting more advantage if you support any other third party, they will give you a fixed amount Vote or any other parties Give you Token LIKE Nutbox.mine Gives $PUNTS and Vote .if you want to convert in Liquid you must POWER-DOWN , 1/4 amount of steem power are going to be deposited in your steemit wallet as a Steem token.
III. STEEM BACKED DOLLAR (SBD)
In short words SBD, was created to bringing stability in the Steem blockchain ecosystem, the worth of the SBD is pegged with the 1 USD within the steem economy and Steem Blockchain always reads 1 SBD= 1 USD. But being a trade-able token (listed on Bittrex and Upbit), SBD is now trading at PKR 1,267.85. On the Steemit platform, the Content creator gets their payout (rewards) during a combination of SBD/SP (50:50%) or 100% SP
2) TRON BLOCKCHAIN
Tron is also a TRON Blockchain Native Token Before JAN 2021, steemians, had nothing to try to to with Tron blockchain but then strategic partnership of Steem with Tron Blockchain occurred, and eventually, partnership integration goes live enabling users to earn TRX. TRON is a crypto currency based on decentralized blockchain. Steemit has been joined with TRON ecosystem. So users will receive same number of TRON as SP for each contents.
I. TRONIX (TRX)
TRON is stand for tronix it is a crypto currency based on decentralized blockchain. Steemit has been joined with TRON ecosystem in the end of DECEMBER 2020. So users will receive same number of TRON as SP for each contents like 1TRX = 1 SP.
1. TRC10
TRC-10 token is formed on by its own network and is usually available on the TRON mainnet. This TRC10 token doesn't depend upon the TRON. TRC10 tokens are liberal to use in most cases. and it is compatible with most the crypto wallets.
2. TRC20
TRC20 is smart contracts we call call ethereum killer) using the Tron block chain to make TRC20 tokens. TRC20 is that the most famous among crypto enthusiasts reason is its stability fast and secure with lower fees. to make a TRC20 token, one must need TRON virtual machine (TVM) TRC20 tokens have a high energy state & bandwidth with smart contract capacity more then TRC 10.
I. WHAT IS COINMARKETCAP?
https://coinmarketcap.com/ its a website that Alert you about crypto Ups-Down. Its Home page keep Eye on Top 100 Crypto at the time you can check Coin Details when you click on it.
RANK - MARKETCAP - CIRCULATING SUPPLY. and you can compare with any other currency. in upper Right corner you can see search bar and other options.
PRICE RANK, COINMARKETCAP, CIRCULATING SUPPLY OF STEEM AND TRON
STEEM
Steem Price today is $0.4809 its 7.38% High in 24h. Market Rank #193 and circulating Supply is 394,776,498.99 STEEM
The All-time high of the steem coin was around $8.57 on 03.jan.2018. after that the market crashed badly and then steem never recovered that much. many active communities are bringing more new users and Steem is rising again.
TRON
The Tron price today is $0.0886 USD. The current CoinMarketCap ranking is #26 Tron is 2.57% High in 24h.
its market cap is $6,325,694,231 USD. It has a circulating supply of 71.66B Tron coins. The All-time high of the Tron coin was around $0.30$ on 05.jan.2018. in was running in good speed then Tron Crush and in present TRX is running and recovering Good.
Both Coins Steem and Tron are too much Old and thats way they are listed at many Exchanges as per Coingeko, coinmarketcap,
STEEM
Binance, HuobiGlobal, Gate.io, Poloniex, Bittrex, ProBi Global, Upbit, CoinCDX, Bitvavo, MEXC, BiONE, RuDEX, PIoneX, Bithumb Here is Steem Listed exchange
TRON
As the same Tron is too old and well-known in Crypto its Listed on Binance, Pancakeswap, Bithumb, HuobiGlobal, Gate.io, Poloniex, Kraken, Kucoin, FTX, Bittrex, Liquid, eToroX, Phemex, Botfinex.
Out of all exchanges, I'm familiar with Binance, Gate.io, WazirX, FTX, Bitmart, and HuboiPro. My favorite is Bittrex and Poloniex.
Many exchanges have Their account on Steemit Blockchain, therefor its Fastest and free to send in Exchange to Exchange or Exchange to Wallet.
In other side TRX is same like steemit it do not any cost. just Simple transaction one Exchange to other in your TRON wallet. There are two types of transaction one is transacting TRC10 which only require some of your bandwidth.
| TRANSACTION | TO | MEMO REQUIRED |
|---|---|---|
| Steemit Wallet | Steemit Wallet | NO |
| Exchange | SteemitWallet | NO |
| Steemit wallet | Exchange | YES |
| Exchange | Exchange | YES |
When you transfer steem from steemit wallet to any exchange it will require a memo.
The memo will also be used when you are transferring your steem from one exchange to another exchange. if you are Transfer Steem one account to other account its not need MEMO.
Its my 2st Task in #steemitcryptoacademy, I have learned about Steem blockchain (Steem, SBD and SP) & Tron Blockchain (TRX, TRC10, and TRC20) from the homework Lecture by sir @sapwood. I have learned about how to use Coinmarketcap website in Detail, and also learned where the memo is required for necessary transactions or not. I have learned a lot today. Thank you @sapwood for creating this lecture.
