Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain
Good day to everyone, my name is oluwatimileyin and I welcome you to the season 10 of the engagement challenge.
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I welcome you to my participation in the week 3 of the Engagement contest with the title: "Reward System on Steemit Blockchain".
Yes, the Steemit's reward distribution mechanism has experienced a lot of changes since its beginning. The Steemit platform initially used a proportionate reward distribution mechanism, with members being rewarded based on the popularity of their post.
After all was considered, the team saw that the mechanism was a little bit biased in a sense that the distribution of rewards favored popular users with huge followers only, and as a result of this, the Steemit team then designed a convergent linear reward curve to address the issue of reward and give a more probable manner of rewarding users through the convergent linear reward curve.
Firstly, what do you understand by the convergent linear reward curve?.
The Convergent Linear Reward Curve: The convergent linear reward curve is a reward mechanism that was created to provide more equitable and balanced reward to content creators and curators. It works on the system that as the overall rewards pool rises, the difference in rewards reduces, In layman's language, this means that early curators are paid more than late curators.
The Application on the Steemit Blockchain: the convergent linear reward curve use a complicated method to carry out this mechanic on the Steemit Blockchain, it works in a way that it takes into some factors such as upvoting time, voters weight, and also the popularity of the post.
This method is used to ensures that rewards are been distributed fairly, encouraging other users to participate on the platform and also avoiding reward system misuse.
Isolated curation can be referred to as the individual users curating and analyzing content on their own, for this case, there can be some Personal preferences from the users and can be used to make curation decisions.
Community curation refers to as a group of users evaluating content, often based on the community criteria and what the community deems as quality standards.
When it comes to preference for quality Content curation on the platform, I will decide to make use of isolated curation, although they both have advantages.
Isolated curation allowed several opinions, and with this a lot of content could be recognized, but also, the Community curation, on the other hand, will only foucs on a particular subject, and this could make post exposure limited around the platform.
Yes , the community curations has a lot of benefit, it's important to know that the advantages of community curations on Steemit goes beyond money alone, It also encourages users to feel a sense of belonging to somewhere, and a sense of responsibility.
And also, the community curation can help to improved engagement and networking in the community, and this will ultimately improve the overall Steemit user experience.
Here is where I pen down my entry to this contest, so therefore , I would use this moment to invite @yakspeace, @Lhorgic, and @jueco to participate in this contest as well
I agree that the reward distribution mechanism In Steemit has undergone many changes since its Inception. This change shows the efforts of the Steemit team To increase fairness and sustainability In the distribution of gifts To users.
At first, a proportional mechanism based on post popularity could benefit users who already have a large following, which might cause unfairness To users who are less well known but have quality content. By designing a convergent linear reward curve, The Steemit team seeks To overcome this problem by providing fairer opportunities for all users to earn rewards.
A convergent linear reward curve mechanism has the potential to widen reward distribution To users with smaller followers, allowing them To be rewarded In proportion to the quality of the content they produce. This gives both new users and lesser known users an opportunity to grow and get the rewards they deserve.
However, changes to the reward distribution mechanism are not always well received by all Users. Some users who already have a large following may feel that they are no longer being rewarded on a par with their former popularity. Therefore, These changes need To be balanced with Transparent communication and a clear Understanding of the reasons behind these Changes.
Overall, the changes to the reward distribution mechanism at Steemit demonstrate the team's commitment To creating a more inclusive and fair platform for all users. Continuing To review and improve these mechanisms is an important step In developing a sustainable Steemit ecosystem and supporting a diverse user community.
Good luck
This is mostly a nice summary of the discussion above, glad to see someone agreeing on the same page
Hi @negro-bby
You have explained well about the rewards distribution at steemit. Yes steemit undergone modifications in reward distribution mechanism.
You prefer isolation Curation, I do too. Isolation Curation allows us freedom to curate high quality content on vast variety of topics.
Best of luck for the contest dear. I made contest post too. Please give your review on it.
https://steemit.com/hive-108451/@suboohi/steemit-crypto-academy-contest-s10w3-reward-system-on-steemit-blockchain
The article is chock full of insightful observations and stimulating concepts. It not only delivers precise facts but also a distinctive viewpoint that broadens our comprehension of the subject. The arguments are convincingly substantiated, and the credible evidence is used to support the author's statements.
TEAM 5 CURATORS
This post has been upvoted through steemcurator08. We support quality posts anywhere and with any tags. Curated by: @chant
Thank you for your support
Saludos amigo negro-bby.
El sistema de recompensas en steemit ha sufrido cambios en el transcurrir de los años, han pasado situaciones que a ameritado un cambio por el abuso de la piscina de recompensas, siempre los cambios han sido para apoyar a los nuevos y que cada usuario tenga la oportunidad de crecer.
Buena participación , te deseo suerte.
Hi, Dear you have shard short but logically your perspective about steemit Blockchain rewards. You have decided to choose isolated curation because of its own advantages. Well you did great effort. Wish you good luck.
You have used short words, but to much brief and concise. One can understand it very easily.
You claim before it was a kind of biased distribution of reward. Only those with many followers or popular post got reward. But now things are changed.
Yes this is too good. It's a very Positive move from Steemit team. I know in this new award distribution system the newbies also get too much reward. The Steemit platform support them too if they have quality in their content.
It's nice to read your post. Thanks for sharing your precious knowledge with us.
Keep it up.
Best wishes for the contest.
Terima kasih atas pemaparannya. Dengan ini kita tahu bahwa Steemit selalu melakukan perbaikan pada sistemnya. Sistem reward di awal mungkin memang baik. Tapi seiring waktu sudah tidak cocok lagi digunakan. Sehingga harus ada penyesuaian. Begitu juga sistem reward kedua dan sistem yang saat ini dijalankan.
Dengan memahami perkembangan ini semua. Kita akan merasa aman ketika melakukan power up dalam waktu yang lama. Kita juga tidak begitu perlu khawatir dengan harga STEEM yang naik turun apabila menginvestasikan uang ke platform ini.
Salam hangat dari Indonesia
Anda berbicara secara detail tentang perbedaan kurasi isolasi dan kurasi komunitas, dan anda juga telah memilih kurasi isolasi sebagai pilihan yang baik walaupun keduanya mempunyai keunggulan tersendiri.
Semoga sukses dalam kontes ini sobat ku..