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

Hope you all are doing well and good and enjoying the best days of your life. This is me @shahid2030 from Pakistan and you are here reading my post. You all are welcome here from the core of my heart.

This is my participation in a contest Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain in SteemitCryptoAcademy Community by @crypto-academy.

In this blog I am going to show you how the reward system in Steemit works? Is it the same as other crypto or it has some other principles for having reward.I am going to share my four years of crypto experience here with you guys. Stay tuned with us.

Does the attribution of rewards on steemit follow the same convergent linear reward curve since its creation or has it undergone some modifications? If yes, talk about the causes of this change?

Show the added value that brought it this convergent linear reward curve, and how this system is applied on Steemit Blockchain.

What is the difference between isolated curation and community curation? What type of curation do you prefer for quality content in Steem Blockchain?

Does the community curation have only a financial contribution or other benefits, if so which ones?

This portion includes a brief and very detail answers to all the above asked questions. Let's dealt them one by one. Hope you will get satisfied with my answers. So let's start our blog without wasting much more time.

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Let's first talk about how does the reward system in Steemit works, and how you can earn Steem coins from here.

Steemit is a decentralised platform as other cryptos. It is a social media website where you can share your posts ( in the form of Blogs) and you earn from here. There are many ways of receiving Steemit tokens here. Let's discuss them one by one.

Receiving Tokens through Upvotes:

Upvote is the method which helps you receive steem coin. Every Steemit user have different Upvote power, depend upon there Steem Power (SP) and reputation.

Payout System:

This is the distribution of reward based on the attention your posts get. This reward is in the form of Steem power(SP) which increases the influence of a user in the platform. The more SP you have, the more chances of getting more reward. This system is called "Proof Of Brain".

Earning through Curation system:

The Curators always support quality content. They search for the best posts and support them by their upvotes. Their Upvote is so strong and powerful and give users more rewards.
@steemcurator08, @steemcurator06, @steemcurator09. These are the Curators that helps and support quality posts.

Earning through Comments:

If you leave a humble and good comment on someone's post, their is chances that your comment can get an Upvote. Earning through Comments are always less than posts earning.

Curator's reward:

The Curators also get reward when they Upvote a quality and popular post.

These are all the major ways of earning here on Steemit. Their are other ways too but they are not that much important, and they are very minor ways of earning

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Now let's talk about, Is this the permanent reward system or it has undergone changes before?
The answer to this question is Yes. Yes Steemit has undergone through various changes in past regarding reward distribution. Let me mention some of them here.

The introduction of Resource Credit (RC). It is the system to look after users' activities such as, posting, commenting and voting. Hardfork 19 was introduced in back in 2017. It's aim is to give more reward to the popular content. The conservation between Steem power and Steem was also adjusted some time ago. It allocate the reward between the author and the curator. These are some major changes that are made in Steemit so far.

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This is the modification in Steemit reward system that took place back in 2017. The Linear Reward Curve is an update made through hardfork 19. This algorithm is use in reward distribution. It's function is to give more reward to the popular and quality posts. It's aim is to encourage the content writers and awarded them with more steem coin.

Linear Reward Curve created a healthy relation between the users and Steemit. The users use it reward to power up their accounts. It helps them to make their account strong and Powerful, and it increase the chance of more reward for them.

Isolated curation and community curation are two different types of curation on Steemit. The aim of both is to look for and promote quality content. Their are some differences in their approach. Let's discuss them orderly.

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Isolated Curation

Isolated curation is the curation of an individual user based on his/her preferences. If he likes the content, he can show his support to it in the form of an Upvote. Isolated curation gives freedom to a user to go after his own decisions. Here the reward goes to the author and the curator both based on the popularity and the engagement of people with that post.

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Community Curation

Community curation, as it's name indicate. It is the collective effort and contribution of multiple users with in a community. Here an individual user within a community support quality content which is related to his community. It helps both, the community and the user. Most oftenely the Mod, greater, and admin support the users within a community. Here the reward is also distributed between the author and the curator.

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The community curation does help the users financially, but alon with this it has some other advantages too.

The content which is supported through the community become more visible on Steemit. If the post resembles to the community values and interest it brings other users to that post. It helps both the author and the community to increase it followers.

As community always support best content so their is great chance of learning for other users. They can learn from that post. If someone curates within a community it greatly help him to increase his reputation within a community. He will become recognizable, more people will follow him, they will Upvote his Content and it will obviously helps him to earn more.

This is all about my blog for today. I hope I have done Justice to the topic and contribute a piece of knowing to the treasure of of your knowledge. See you with a new amazing and interesting topic, till take care.

I would like to invite some bright minds of Steemit to participate in this contest. Their names:

@goodybest
@aliarubab
@franyeligonzalez
@katherine012
@mayepariata
@chahmad12