Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [STEEM and TRON] by @reddileep for Sapwood

reddileep (67)in SteemitCryptoAcademy • 3 years ago (edited)

HOMEWORK TASK-1

Entire Question

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?

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PoB is the method for distributing and redistributing rewards from Reward Pool to Authors and Curators. There is an interesting system to distribute or redistribute those rewards.

Actually, we accomplish it by Upvoting and Downvoting. The value of gaining reward is depending on our Steem Power (SP). If we have more SP, PoB is working well and we can gain more rewards. However, the Author needs to create genuine contents to keep the originality and prevent from Downvoting.

Mainly the Reward pool, Influence of Steem Power and decisions made according to the quality of the content together can be define as PoB

CURATION MEAN IN STEEM BLOCKCHAIN.png

Basically, Curation Means Upvoting or Downvoting to Author's contents in accordance with a specific set of rules.

To accomplish the Curation, there should be curators and they have to concentrate on Upvoting for quality contents and the same for downvoting and reporting or taking an action on plagiarized contents to maintain clarity and preserve value here. And also, they have the responsibility to read Author's posts and if there is any mistake, they should guide him to correct path.

Curation value depends on the influence of Steem Power of the curator and Voting time after the article is published. Both the curator and the content creator can get benefits from the curation. But we must remember that, we have to read the post well to get an idea of the content and we can upvote at a certain power according to our interest.

BENEFITS OF BUILDING SP.png

Steem Power (SP) is the most important factor to stay on Steemit platform. As the beginning of the Steemit journey, we should try to increase our SP in our best. Because, there are a lot of benefits of building SP,

If we need to create contents several times in one day, we are unable to post articles without adequate SP. So, If we have more SP, we can save our time and we can post a lot of articles in one day.
As a curator, we can increase the value of our rewards by increasing Steem Power (SP).
If we have more Steem Power (SP) and also if we are able to Deposit Steem from other exchanges to our account, we can support this Ecosystem to be more stable. By that, we can create a better future for ourselves.
We can improve our account value from Steem Power (SP) by attracting more followers. If we have higher quantity of SP in our account, other people will attract to our account as we have higher value in our vote.

EXPLANATION OF SELF UPVOTE.png

In my point of view, it is a bad social behavior. Because, when we are creating a content in steemit, we are in the roll of Authors. Also, when we are curating for others contents, we are in the roll of Curator. So, if do the both roll at the same time, it will be a wrong action.

Every time we should focus on others post to distribute rewards from pool by voting. Also, we must have the ability to judge others before upvote. So, everybody knows that, we can create good contents but it's not suitable to self reward to our content.

In my opinion it is 100% bad behavior and if we are self voting, it is a negative effect of PoB system. Then, we must try to protect PoB system to continue this ecosystem smoothly.

EXPLORE COINMARKETCAP.png

Coinmarketcap is very essential to get live updates of many crypto without extra effect. I use this site daily in my life because I am interested in cryptocurrencies.

Below I have included all the details related to the question.

STEEM Rank according to Coinmarketcap - 195

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STEEM price according to Coinmarketcap - $ 0.2423

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Coinmarketcap of STEEM - $97,858,072

DIFFERENT TOKENS EARN BY SOCIALIZING IN STEEM BLOCKCHAIN.png

Basically, steem blockchain release 4 types of token as rewards.

SP (Steem Power)
STEEM
SBD (Steem Dollar)
TRX (Tron)

SP (Steem Power) can be earned as a reward for quality contents in steem blockchain. Steem token it very essential to stay in steemit blockchain and higher quantity of steem holders can gain higher value of rewards.

STEEM is the main tradeable cryptocurrency in steemit ecosystem and we use this coin to power up process and share with other users and exchanges.

SBD (Steem Dollar) is another cryptocurrency in steemit and it helps to keep the value of Steem. We can also earn this token as a reward for quality content and we can convert this token in to steem by trading. Also, we can use the steemit wallet Market to exchange those tokens simply.

TRX (Tron) is very popular cryptocurrency within many exchanges. TRX reward is directly proportional to the SP reward and if we earn 10 SP as rewards, also we can get 10 TRX to the ratio of 1:1

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This is my Homework Post for Task 1 and all the screenshots and images are created by me.

At the end of this article, I would like to appreciate professor @sapwood for his effort for creating very essential lessons on behalf of us.

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