Crypto Academy Week 5 Homework post for @sapwood | Steem Blockchain
This lesson is very useful for those who do not yet have a complete idea about the steam blockchain. Thanks @sapwood for explaining so nicely about the Steam blockchain.
What will happen if you vote before "5 mins age of a post" & after "6 days 12 hrs age of post" in Steem Blockchain?
Voting from a 5 minute age post to a 6 day 12 hour post will have an impact on your curation reward. If you vote for a post in the first 5 min, you will lose a certain amount of curation reward. This is called Reverse Auction, Because Linear Discount curation reward is applied there, its till 0-5 min. The amount of curation reward that is lost goes to the reward pool.
The same rule will apply, if you vote for a post and its age is 6 days 12 hours then your voting value will work according to the linear discount rate. The lost curation reward will return to the reward pool.
Linear Discount is, 100% Discount at 0 min same way 0% Discount at 5 min.
How do I check how much reward of a post has returned to the reward pool in Steem Blockchain?
We learned about the Reverse Auction above and a certain amount of voting rewards for it will go to the Rewards Pool of the on Steem blockchain if its voted for a 5 minute or 6 day 12 hour age post.
To check it out go to [steemworld.org] and go to the posts section to see the list of your posts.
Screenshot taken from steemworld.org interface.
As you can see in the picture above, Payout Return is 0.00 $ and 0.00%, since 0.00$ so there is nothing to return. If the post returns option shows any value then it will return the reward pool because for reverse auction.
Under what circumstances a curator can earn more than 100% upvote value as curation rewards?
Curation reward is important in steam blockchain. A curator can get a curation reward of more than 100%. For that, curator has to vote for the post exactly after 5 minutes. If a curator is not able to vote for within 5 minutes , Must vote before 6 days 12 hours.
Let’s explain through small examples. Suppose I am the first voter to vote for a post, other whales after me have voted for that post. In that case I will get more than 100% upvote value from that post as a curation reward.
If you don't understand yet, take a look at this formula. There is a curation rewards formula,
PCurator= (1/2)*(√Pt)(√P1-P0)Δt
Here is the formula summery:
PT= Post Payout at the end of 7 days
P0= Post Payout before voting
P1= Post Payout after voting
Let calculate a post according to the above formula.
In a post payout of $10, and i am the first voter with value $2, with 200% curation reward.
Total post payout is $50.
Here, Pt= 50$
P0=0, P1=2$
Now, PCurator= (1/2) * (√50) * (√2-√0)= $5
In this calculation you can see that I will get as a curation reward of more than 100%. I would earn 250% of curation reward from my 100% voting value.
Pick any random post you have voted in Steem Blockchain and indicate the time and position of your voting, what is the projected curation reward?
As you can see in the screenshot below, I have selected a post in which I have voted.
Voting time: 1d 22h 6m 27s
Voting Weight: 100%
Amount: Although it is much less, it is countable. 0.01$
Efficiency: 8.35%
Reward Sp: 0.007
And as you can see in the pie chart, I am the 8th voter.
What is the role of curation in better content discovery in Steem Blockchain?
Since Steem Blockchain is a blogging platform, content creation as well as content curation is major activity on whole platform. So the post should be curated according to the merit of the post. If you vote for a quality post with a big size, it will go in front of many people when it goes trending. So its more visible than any other post. So Quality completed posts should be curated. Curate tax will not be fixed on any low rating post. There are many quality authors who will get more encouragement if they are curated regularly.
All screenshots are taken from steemworld.org interface.
Thank you @sapwood for bringing such informative topic.