STEEM & TRON - STEEMIT CRYPTO ACADEMY SEASON 5 - HOMEWORK POST FOR TASK 2 BY @niglys8

Steem & Tron- Steemit Crypto Academy Season 5 - Homework post for Task 2 by @niglys8

Greetings! Members of the Steemit Crypto Academy Community. I am here again to submit my Task 2 homework post for the 2nd introductory course anchored by our amiable steemit Crypto Academy professor @sapwood. I will be answering the second (2nd) question for Task 2 on the topic "Steem & Tron"

(2.)What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? How 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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?

What is PoB?

PoB known as Proof of Brain is a mechanism that is useful in the steemit blockchain functions. It allows it's users to effectively distribute rewards according to the steem power from the reward pool. The distribution and redistribution of rewards is dependent on the amount of steem power a user has, meaning the higher steem power a user has, the higher the influence of the user in the distribution and redistribution of rewards in the platform.

Because the steemit platform is a blockchain social media platform, it strictly works with the proof of brain (original or unique contents from one's brain) for the publications that are being made by it's users. The curators serve as the judge by carefully going through a publication and if they find it genuine or free from plagiarism, a befitting reward is being allocated to the publication.
In summary, the PoB is a determinant in checking out the originality of a publication.

What does curation mean to you in Steem Blockchain?

Curation in Steem Blockchain means the distribution of rewards to original and quality publications which are posted on the steemit platform. For curation to occur, there are guidelines that are followed. They are;

• The post is being read carefully by the curator
• The curator carefully checks to see if there is any plagiarized content in the post and if found, curation can never occur and the account is either flagged or reported.
• The curator checks out the value and importance of the publication to other users as well.
• The curator also drops opinions in form of comment or reply according to the impact of the post.
• And if the publication is found qualified by the curator, he upvotes it according to his voting power.
• If the publication would be very useful for other users, the curator may resteem the post for other users to read and gain from it.
  

What are the benefits of building SP?

A lot of benefits comes with building your steem power. Just like I mentioned earlier, the higher steem power a user has, the higher the influence of the user in the distribution and redistribution of rewards in the platform.
Below are the benefits of building steem power;

• The higher steem power a user has, the higher his vote weight and influence in the percentage distribution from the reward pool.
  A user with a steem power of 100 has little or no influence compared to one with a steem power of 1,000. The user with a higher steem power benefits more from the reward pool than the user with a low steem power.

• Building up steem your power rather than withdrawal reduces the amount of Steem in circulation, thereby creating some demand for the steem coin and hence the increase in the price of steem.

• it gives users the opportunity to build and grow a community in the platform. With a high steem power, maximum support is given to users that joins the community.
  

How do you explain self-upvote as a good or bad social behavior & why?

Self upvote simply means the upvoting of one's publication by oneself. This is a bad social behavioural act on the steemit platform by users who do such and should not be encouraged because it is the duty of the curators to go through a person's publication and check the worth or credibility of the content and then make upvote. An author who engages in self upvote uses the voting power which could have been used in voting other people’s post and supporting them in voting for his own post thereby making them to have a reduced voting power when it comes to voting other user's post.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?

To explore the Coinmarketcap.com, visit the website https://coinmarketcap.com/

Then input "steem" in the search box and this result will appear in the screenshot below;

As at the time of this screenshot, from the above picture illustration, the current coinmarketcap rank of steem is #198 which is located at the upper left side of the page, while steem price is $0.7213 to USD with a live marketcap; $282, 908, 045 USD which dropped with about 2.55% and fully diluted market cap of $294, 967, 224 USD which dropped with about 2.45%

What are the different tokens do you earn by socializing in Steem Blockchain?

Because steemit is a Decentralized Blogging social media platform, it's user's earn rewards by socializing in the Steem Blockchain and by so doing, earn these three tokens listed below;

• Steem/ Steem power
• Steem Dollars(SBD)
• Tron(TRX)

These tokens are normally rewarded to it's users' after 7 days and there are various ways by which users' earn from the Steemit Platform. And they include;

• By making quality posts in the Steemit platform
• By participating in steemit community contests.
• By upvoting posts made by authors.
• By delegating steem to communities.

STEEM/STEEM POWER

This tokens can be earned by claiming the rewards gotten from your posts or upvoted posts. You power up steem for it to become Steem power which helps to increase your users influence and voting power in the community. You can also power down your steem power to get your steem back but this takes about 1 month "4 weeks" to be achieved.

SBD

SBD also known as Steem Dollars is one of the token earned by users socializing on the Steem Blockchain.
It can be traded in exchange for steem and can be transferred to a user's account as steem. it can also be converted to steem in a user's wallet but this takes up to 3.5 days to be achieved. Also, at the time of this research 1 Steem Dollar is equal to 7 dollars.

TRON (TRX )

This is the native token of Tron which is earned by users socializing on the steemit platform in the ratio of 1SP:1TRX that is to say that a user earns 1Trx for every 1SP.

How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?

To use the TRX earned in the steem Blockchain to optimize earning in the Tron Ecosystem you can comfortably make use of the TronLink app.

• USING JUSTLEND: Copy your receiving address and send your earned Tron to it. Use JustLend app to add TRX to pool for liquidity rewards in this way you have optimized your earnings.

• USING SUN.io: Users can get mining rewards while converting their TRX to SUN. SUN-TRX liquidity pool offers the highest APY of 73.2%. Here earnings are optimized.

• USING JUSTSWAP: You can also trade TRX to another token which you must have analyzed using technical fundamental analysis for best optimum gains to optimize growth.
  

CONCLUSION

In conclusion, the Tron Ecosystem has provided great and massive opportunities for passive income earnings and has become a great citadel of learning in the blockchain space. Currently, I can easily navigate through projects in the coinmarketcap by checking their ranks, market caps, prices and their used cases. This is a great start for a crypto fundamental analysis.

Thanks for reading through!