Steemit Crypto Academy Contest / S10W6 - Delegation On The Steem Blockchain

Introduction

Delegation is a recurrent topic within the steemit ecosystem. From the time a user registers on steemit, he is given 15 sp delegation to enable him or her have the resources required to make his introduction post.

I am going to explore this concept more as the indepth examination will be beneficial to both old and new users alike.

Explain in your own words the delegation process on the Steem blockchain, how does it work? What are its main goals? And is it a safe process?

Delegation is simply the act of giving what you have to a person or community to make use of, enjoy the benefits that comes with using them, while the ownership of the item still belongs to you. So that means that such giving out is temporary, the owner reserves the right to take it back anytime.

This is just how delegation work. It is a process whereby a user shares or gives( delegate) his steem to another user either to assist the individual have resource credits to make use of or to earn from such action.

To be able to make delegation, the user does that through the steemworld.org dapp with various uses and this is just one of it.

I will be demonstrating how to do this using steemworld.org

On the address bar of the explorer, type in steemworld.org/@ngoenyi(your username)

It then brings out your page, head over to select delegation,

Scroll down, you will see delegate. Click on it.

A dialogue box will appear where you will see the amount of sp you have, then type in the username that you want to delegate to and the amount you want to delegate. Fill up those spaces and click on OK.

A dialogue box will come requesting that you authorize the transaction. This you will do using your active key.

Once that is done, you have delegated the sp to the user.

Very simple.

What are its main goals?

It helps to provide new user with the resources to start up their journey in steemit, especially those who do not have the funds to buy steem.

It also help individuals who have steem power but do not have the time to vote with it to still do so, by delegating it to a.peraon who have the time. Thus making active use of existing steem power in supporting other users

In some cases, where such delegations are made for profitable returns, the delegator can earn reasonably from such delegation.

Those with little steem power can pool their resources together in form of delegation, adding up to sizeable amount of steem power which can be used to support users.

And is it a safe process?

It is a safe process. The owner of the steem power reserves the right to take back his Sp anytime he wishes. No risk attached to it.

Have you ever delegated SP amount to a user or community before? If so, tell us, did you do so voluntarily or at the request of the party you delegated to it? And why did you withdraw your delegation?

Yes, I had delegated SP to various users and communities in the course of my steemit journey in the past. Being a steemit promoter, some users do not have sp to start posting with, so I delegate to them to start off.
Sometimes, I delegate to communities to assist as they take off too, helping them to build there steem power. These I do voluntarily.

For the new users, I take back my delegation once I notice that they have powered up several time and are now more stable in there activities. For the communities, I leave it for long unless the community want to power down.

Do you delegate SP without worrying about using it as long as you collect your daily or monthly fees?

Most at times I delegate sp and tend to forget it. I just do it without much attachment to whether I am paid or not. My interest is to ensure the individual or user progresses on the platform.

Are you with or against the SP delegation to the communities? why? If accepted, on what criteria will your choice of society be based?

Delegating SP to communities are good. To me, it is reasonable. To build up a community is not easy. Most at times we see new communities die as they spring up. So it can really help to stabilize the community. When users publish in a community and they get support from the community's official account, it encourages them to post more. So delegating to such community will help to build the account of such community so that they can add value to the publications they support. For me, it is a welcomed development to delegate to communities.
Some Reasons for supporting the community through delegation are

1. The community must be active

2. I need to see the effort of the admins or founders in ensuring the community grows through their own commitment and support.

3. The community use their resources to support users that post in that community.

4. The community is not into frequent power downs.

Are you with or against the SP delegation to users without benefits in return? why? If you agree, on what criteria will your choice of user be based?

It is neither a yes or know. All depends.on the user involved and the delegator. Like I said earlier, most of my delegations are to assist a user or a community and as such, I am not expecting any benefit in return. If it is for return, I have the time to conveniently curate by myself to get the needed rewards. So, I don't subscribe to delegating to a user for a reward especially as the steemit team does not approve of it.

Conclusion

Delegation is a nice concept within the ecosystem. It can be used to help and individual user as well as a community. However, for those who wants to make money from delegation, it is pure business and the decision is up to them.

I therefore invite @goodybest @patjewell and @ruthjoe to take part in this contest

All screenshots were taken by me from my steemworld page. The first image was designed by me using PicsArt app.