Steemit Crypto Academy Contest /s10w5: Getting to know Mvest
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It's almost the end of the week and I just want to drop my entry in the Steemit engagement challenge season 10 week 5.
After much research on the topic this week I can say I have learnt something new..
What is Mvest? |
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The word Mvest is an abbreviation which simply means million vest. This is to say a million vests makes up 1 Mvest. Mvest is a measurement unit of steem power on steem blockchain.
As at the time of this post 1 steem power = 1, 758.704676 vest.
It therefore means that vest can be gotten from the amount of steem power a user has. This simply means the amount of vest a user has increases when the user powers up. This is to also say, the more the steem power, the more the vest.
Vests from my opinion are like shares bought on steemit and the only way to buy them is through powerups of steem. Vests of a user on steemit shows you how influential that user can be on the platform.
No wonder from steem world you will always see the amount of steem power a user delegated and mvest close to each other with the word shares in front of the Mvest. See screenshot below.
 screenshot from steem world |
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What is the relationship between Mvest and steem? |
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First I would like to say Steem is a cryptocurrency users are rewarded with on steemit for their quality contents.
Mvest is the measurement used to calculate steem power on steem blockchain.
Now, steem is the currency or purchasing power used to purchase vest. I have established before already that it is when a user powers up that the user can get an increase in his vest. This powerup can only be done with the use of steem.
Therefore, if the user does not have steem to powerup then there will be no steempower and no vest.
Power up is the process where steem is converted to steem power. No steem > no power ups > no vest
How many Mvest does your account have |
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To find out how many Mvest my account have I paid a visit to steem world for some practical session.
From my screenshot below, I wanted to know the rate of steem power to vest. So I inserted 1 as the amount of steem power and the result it gave me as vest was 1,758.704676, therefore 1sp= 1758.704676vest as at the time of writing this post.
It simply means for every 1 steempower up done will give that result of vest as at the time of writing this post.
 screenshot from steemworld |
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In other to get how many Mvest I have in my account, I did the following..
From the screenshot I have below it is says I have available steem power of 4,485.008 but this is not my total steem power I have in my wallet. It shows that figure because I have delegated some of my steem to some communities to help them out. So that figure is my balance left.
I insert my total steem power I have in my wallet as amount of sp. My total sp amount is 8,516.315
 screenshot from steemworld |
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It brings out my total vest as 14,977,681.387063 since we already know that 1Mvest=1,000,000vest. Then 14,977,681.387063 ÷ 1000000= 14.977
Therefore my Mvest = 14.977
Assuming that your account has 35,000.00 steem power, how many Mvest does it equal to? |
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To get how many Mvest I would have assuming my account has 35,000.00 steem power I would also need to visit my steemworld.
From my screen below I insert the 35,000 steem and the result of vest shows up as 61,554,430.021067 as at the time of writing the post.
 screenshot from steemworld |
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Then we do our simple calculation again to get the Mvest. 1 Mvest = 1000000vest.
Therefore 61,554,430.021067÷ 1000000= 61.554Mvest.
This is to say 35000 steempower = 61.554Mvest as at when this post was written.
Conclusion |
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When I first saw the topic of this week's engagement challenge I must say I was confused but at the same time curious. I wanted to know more so I engaged in some research and am glad to say I know better now.
It simply means for everyone who has a steempower on the platform has an Mvest. Remember that vest is like shares bought by a user with steem when the user decides to power up. Which means, if the user decides to power down too, their vest goes down or simply decrease.
To get more vest have more steem power.
I would close here by inviting some friends to join @sahmie @lhorgic @pandora2010
Hi darling...
Doing Power Up will increase our strength and influence in the steem ecosystem, and delegating SP does not mean we don't get benefits, in the amount of SP you delegate there we can also find out the amount of Mvest you get, and that is how we get steem by doing delegates too... Therefore, sometimes we see the value of the delegates we give, for example 50 SP, and that number will increase in the future to 50,328 SP. And this 00.328 is the result of the delegation, so you still won't lose your SP for free...
Good luck and luck dear... 🤗😘👍
TEAM 1
Congratulations! This comment has been upvoted through steemcurator04. We support quality posts , good comments anywhere and any tags.Hello dear friend.
Let me tell you that previously I also had doubts but with your explanation I see things better, hopefully it will give me time to participate.
Thanks for the invitation.
Success in the challenge 🤞🏻
Many Blessings.🙏🏻
Am glad you were able to see some light from my publication.
You are sure welcome
You have a deep Understanding about Mvest which show the values of our Steem power. I like your explanation. Good luck to you.
Thank you for your wishes..am glad my explanation. Am glad that my explanation was very clear
Thank you for sharing your thoughts on the engagement challenge topic. It's great to hear that your initial confusion sparked curiosity and led you to conduct research. Your explanation of SteemPower and vests is clear and concise, highlighting the relationship between a user's SteemPower and their decision to power up or power down. Well done on gaining a better understanding!
Wow! Am excited to know that my publication was simplified enough for a better understanding.
Am glad I took part in the challenge because it enabled my learning
Greetings @ruthjoe 😍That's fantastic! It's always rewarding when your work is appreciated and understood by others. Participating in challenges is a great way to enhance your learning and grow as a writer. Congrats on your success!
Thank you dear brother..
Saludos ruthjoe.
Es bueno siempre saber cada terminología de nuestro ecosistema, cada reto aquí nos enseña mucho, tu participación es buena y clara.
Bendiciones.
Saludos amiga ¡Feliz domingo! 🙏
Realizaste una buena entrada. No te equivocas cuando dices que los chalecos son acciones compradas en steemit y la única forma de obtener aun más es potenciando nuestros Steem.
Definiste perfectamente el significado de Mvest y abarcaste correctamente las demás preguntas del desafío, ya que explicaste de manera positiva el equivalente a 35. 000,00 SP, en Vest, suponiendo que poseas ese monto en tu cuenta. Me encantó mucho leer tu post.
Al igual que tú quise aceptar el desafío e involucrarme en el tema. Te deseo éxitos y bendiciones 🙌
Hello friend 🤗
Thank you for sharing your valuable thoughts with us about the Mvest. I really liked your publication and you have presented very well about that challenge.
More success to you 🤗
Thanks for your support
You are always welcome 🤗😁
You have successfully explain the abbreviation of Mvest and its really true that these are 1 million VEST and I agree with you that there is a measurement unit at the blockchain and that measurement unit for measuring the power of a person is called Mvest and this is a measurement unit for measuring the power thats why it also plays a very important role in influence of a person at the blockchain as well as in the worth of vote a user have at the blockchain.
Power up is the process where steem is converted to steem power. No steem > no power ups > no vest
I agree with all the things that you have explained while explaining the relationship between Power and Mvest but the most important and interesting part of your elaboration in the relationship is a formula or you can say and expression that you made that if we don't have tokens then we cannot convert these tokens into our power and then ultimately there will be no Mvest so I want to add in this expression that if all these things will be absent then there will be no influence of a user at the blockchain
TEAM 4
Congratulations! Your post has been upvoted through steemcurator07. Good post here should be..Thank you so much @jyoti-thelight