Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain

Welcome to the revolutionary world of Steemit, where the power of Blockchain unites millions of users in a rapidly growing community! In an era that is flooded with information and social Platforms, Steemit has emerged as a new wave, laying a solid foundation for fair rewards and empowering content creators.

In today's contest article, we will dig deeper Into the awesome reward system behind the Steemit Blockchain, Exploring how this innovative concept has changed the way we perceive and derive value In the digital world. Get ready To be blown away by the complexity and potential hidden In this amazing “Reward System on Steemit Blockchain”!

Pixabay

Steemit, a blockchain-based platform that allows users To post and interact with content, has undergone several modifications In the attribution of rewards since its creation. At first, Steemit adopted a reward attribution system based on a convergent linear reward curve, Which means the more upvotes or votes a post receives, The higher the reward given.

However, in the course of time, Steemit realized that there were some problems with this system. One of the problems is the too large concentration of rewards among the large number of users who already have a lot of wealth in the form of Steem Power, Which gives them more influence In determining the distribution of rewards. This creates a gap between established users and new users which is difficult To compete with.

To solve this problem, Steemit made some modifications To their reward attribution system. One of the important changes they implemented was Introducing a “Proof of Brain” algorithm which gives greater weight To content quality than just the number of votes it received. With this, high-quality content has a greater chance of being fairly rewarded, regardless of the wealth or power of the voting users.

Apart from that, Steemit also introduces various award initiatives and programs such as SteemDAO, Communities, and Delegation. These initiatives aim To encourage active participation, Promote collaboration, and provide new users with an opportunity To earn fair rewards. Thus, Steemit seeks To create a more Inclusive and equitable ecosystem in the distribution of rewards.

Overall, although Steemit initially adopted a convergent linear reward curve, the platform has undergone several modifications To address issues and achieve a fairer distribution of rewards. These changes aim To reduce the gap between established and new users, as well as Increase the emphasis on quality Content.

The unbalanced attribution system with a linear convergent reward curve on the Steemit Blockchain has Several significant added values. Here are some added values ​​of this system and how this system is Implemented In Steemit :

• Stimulates participation :
  Convergent linear reward curves encourage users To actively participate and contribute by posting quality content and voting on other posts. The more upvotes a post receives, the higher the reward it will be given. This provides an Incentive for users To actively engage on the Platform and create engaging content.

• Even distribution of rewards :
  With a convergent linear curve, Steemit seeks To create a more even reward distribution system. As a blockchain-based platform, Steemit wants To prevent too much concentration of rewards on a small number of users who already have a lot of wealth. With a convergent linear curve, new users and users with less wealth still have the opportunity To be fairly rewarded based on the quality of the content they produce.

• Rewarding quality content :
  The reward attribution system with a convergent linear reward curve on Steemit also aims To encourage rewards for quality content. While the number of votes remains an important factor, this system gives greater weight To the quality of the content itself. Thus, users who consistently produce quality content have a greater chance of earning high rewards, even if they do not have significant wealth.

In its application on the Steemit Blockchain, The reward attribution system with a convergent linear Reward curve works In the following way :

Remark :

• Every post or comment posted on Steemit can receive upvotes from other users. Each upvote received has a certain weight based on The amount of Steem Power owned by the user who voted.

• The reward given To a post is calculated based on the number of votes received and the weight of Each of those votes.

• The more upvotes a post receives, The higher the reward it will be given. However, The rewards given over Time will converge towards a certain, More stable amount over time. This prevents the accumulation of Unlimited rewards on a post that gets continuous Upvotes.

By implementing this system, Steemit Blockchain seeks To create a fair Ecosystem and encourage active Participation and respect for the quality of content produced by Users.

Pixabay

The difference between isolated curation and Community curation lies In the manner and scope of decision making In the curation process. The following is a brief explanation of the two types of curation :

• Isolated Curation :
  Isolated curation is a curation process in which each user Independently curates content that they deem To be of quality. In this case, the curation decision is entirely In the hands of each user. They can vote or upvote posts they find interesting or of high quality. Isolated curation allows each user To independently determine which content deserves a reward based on their own Preferences and judgment.

• Community Curation :
  Community curation involves the collective and collaborative participation of Community members In curation decision-making. In this case, a group of users who are members of a Community or group with the same interests or goals work together in determining which content deserves a reward. Curation decisions are based on discussion, Internal voting, or other mechanisms Involving members of that community. Community curation can provide a more diverse perspective and avoid the dominant influence of one individual or small group.

Isolated curation and community curation have their own strengths and weaknesses. Isolated curation gives users the freedom To independently rate and vote on content they deem of quality. Meanwhile, Community curation can encourage collaboration, Collective participation, and building strong Communities around specific content.

The choice of the preferred type of curation for quality content on the Steem Blockchain will depend on the preferences and goals of each user. Some users may prefer the freedom of isolated curation To express their personal preferences, while others may opt into community curation To collaborate with others In discovering and rewarding quality content.

Community curation does not only Involve financial contributions, but can also provide other benefits To community members. Here are some other benefits that can be obtained through Community curation on the Steem Blockchain :

• Knowledge and Learning :
  Through community curation, Community members can learn from each other and exchange Knowledge on topics or content they are interested In. Discussion and collaboration In determining quality content can help Increase community members' understanding and insight on the topic.

• Engagement and Networking:
  Community curation can facilitate more active Involvement In the community and help build networks with fellow members. By working together To determine what content is eligible for rewards, community members can Interact, Support one another, and form stronger bonds.

• Content Development and Quality :
  In community curation, community members have the opportunity To provide feedback and suggestions To content creators. This can drive better content development, Improve quality, and help content creators continue To develop and improve their skills.

• Support and Rewards :
  Through community curation, Community members can provide Support and appreciation for content they deem valuable. This can Provide motivation and appreciation To content creators, Encouraging them To continue contributing with quality content.

• Collaboration Opportunities :
  Community curation can also be a vehicle for finding collaboration opportunities between content creators. Community members with similar Interests or goals can collaborate with each other To produce More creative and useful content.

" In a world that is constantly moving, be a beacon that radiates brightness with every step you take, and let your brilliant ideas illuminate the path To a better future. "

"Be the architect of your own destiny, dare to step above the given boundaries ,and pursue your Dreams with Unshakable Passion."

In this contest I invite @newby , @stanley52, @newtonb,@emultiplex and @abdullahw2 to take part in this interesting contest.