[This image was edited in Canva by myself]
INTRODUCTION
I thank God for things he has been doing in my life, I really appreciate his grace and goodness in my life. I thank the community moderators and administrators for their hard work in this community. I will also like to thank my fellow steemians for their consistency and hard work. This is week challenge is about steemit blockchain. I have taken my time to write about steemit blockchain. I am
@sarkodieeric1.
photo source
Today is a great opportunity to speak about steem, a first cryptocurrency I encountered in my life. Last year early in the meddle of the month I go to know about steemit. And through that I got to know about other cryptocurrency as well. Steemit remain one of the oldest blockchain technology social media platform since 2016. And steemit blog gave birth to other blog like hive blog, and so on. And on steemit post is been awarded with steem dollar depending on the quality of the post content, and you can also get rewards if your post does not contain any copy and paste content. And because it is a social media blockchain technology network and it has it own wallet. And depending on the way you want to receive your reward, within the steemitblog editor we have advance settings. And in advance settings you can set your reward to either 50 percent or 100 percent. For the fifty percent the content creator will take fifty percent of the rewards that will come at the end of the week depending on the current steem price in cryptocurrency market. And as for the hundred percent the creator of the post content will take most percentage depending on the current steem price in cryptocurrency market. If you set it to 50% at the end of the week, you shall receive STEEM or SBD, SP and TRX.
ABOUT STEEM
Now on steemit, content creators received only STEEM instead of SBD because of the current steem price in cryptocurrency market. The steemit community intentionally did that in other to stabilize the steem rate as Bitcoin and other cryptocurrency are falling down on. Steem is the main cryptocurrency on Steemit or it is steemit main coin on steemit which can be transferred from steem wallet to other exchange platform or other steemit users. Or you can save it in the wallet for future use. Steem can also be used as steem power in the process called powering up.
ABOUT SBD
SBD which is also known as Steem Dollar, Steem Dollar is among the tokens on steemit wallet. And it is part of the reward that someone receive after one week. Now it is not coming because the changes that the steemit community has done on the platform. The rate of SBD is sometimes higher than steem on cryptocurrency market. Though is it a token on steemit but it cannot be transferred from steemit wallet to other exchange platform. You can transfer by converting it to steem. And it can also transfer to other steemit wallet.
ABOUT SP
SP is popular known as Steem Power on steemit, steem power is a converted steem wallet. The purpose of Steem Power is to help steemains to post and comment under other steemains post. It helps steemians to give upvotes. Since it's a token or converted token, in the process called powering up. It can be power down to get back steem again. Someone can get Steem Power on steemit through arthur rewards and curation rewards. The value of Steem Power is equal to steem.
ABOUT TRX
Trx is also known as tron, tron is another cryptocurrency that can be found on steemit. Tron became part of steemit after Justin Son became owner of steemit. And from that time tron was been integrated into steemit wallet. Tron can only withdraw by using the tronlink app with the help of the tron private key. The value of the tron is much lower than the Steem and Steem Dollar. The tron can be received through both arthur rewards and curation rewards.
BENEFITS OF BUILDING ONES STEEM POWER |
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It is very important to build ones steem power, there are a lot of things that I have said about steem power. But if you really means business on steemit the only thing that can help you is to add more steem to your Steem Power. This can be done by adding steem gain from arthur rewards and curation rewards, or better still one can buy it in exchange platforms. The Steem Power helps steemians to write post and comments on steemit. For someone to get more steem power the person have to do power up. And the more you do power up the more you gain on steemit. And as you use your Steem Power to vote other steemains the more you gain from the the upvotes that you have given.
MEANING OF CURATION AND SELF VOTING |
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Curation is the at of giving rewards to content creators based on own specification on the power with the help of the steem power that one possessed. Curation can be done base on your percentage that you want to give. Since the percentage can be set from one to hundred. It is not good to do self voting and it is not advisable to vote yourself since at the end of the week the curation rewards comes back to you.
VOTING AND CONTENT WHICH SEVEN DAYS OLDER VERSES CONTENT WHICH IS SEVEN DAYS OLDER |
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Both content creator and the curator benefits from curation in the seven days duration. That is why it is very important to give upvotes from the first day to the to at least day six. Apart from the the seven days earlier other days does not contain any monetary value since the system has been made like that. Above the seven days or when the payout comes, after all votes is a waste of resources.
This post has past seven days and it does not contain any monetary value
This post has not past seven days and it contain any monetary value when voting
ADVANTAGE AND DISADVANTAGE OF STEEMIT BLOCKCHAIN |
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| ADVANTAGE OF STEEMIT BLOCKCHAIN |
There are a lot of advantage of steemit blockchain I can speak of but these are few of them that I can talk about.
- It enable a person to create his or her own blog.
- It enable a person to learn and do research since the blog is being created not copied.
- It enable a person to type with easy since it deals with a lot of writings.
- It enable a content creator to get money out of it since the steem contains monetary value.
| DISADVANTAGE OF STEEMIT BLOCKCHAIN |
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- It takes a lot of time to create a post on steemit, providing want it to be quality.
- It also takes a lot of data bundle since it works on the internet only.
- You can lost everything when you lose your steemit master key.
CONCLUSION
As steemians it is very important to know more about steemit blockchain. We are praying that steem will go up again for the return of the SBD.
I thank everyone for your precious time.
By: Urdu Community
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24-10-2022
You are right . That's what we call curation rewards . More the SP , more the voting weight and more the curation rewards.
Yes voting is a part of curation . It has other components like analysing content , commenting , resteeming etc .
Yes after 6 days and 12 hours there is discount of rewards with 0% at 6days and 12 hours and 100% after 7 days .
Good luck
Thank you very much for your comment.
We support quality posts anywhere and any tags.
Curated by : @simonnwigwe