Crypto Academy Season 3 | Beginner's Course - Homework Post for Task 1: [STEEM & TRON]
Question 01
1) What is PoB? What does curation mean to you in Steem Blockchain? What are the benefits of building SP? How do you explain self-upvote as a good or bad social behavior & why? Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)? What are the different tokens do you earn by socializing in Steem Blockchain?
1. What is PoB?
Proof of Brain, simply it is the commitment of users in the Steemit platform. Besides technical performances, this engages with the flow of comprehension among users. Both authors and curators are decentralized themselves to agree with their likelihood for giving what they prefer to give within the platform.
PoB is a combined act of both authors and curators. Authors can make their posts according to their wishes and they are welcome to the ecosystem. On the other hand, curators can actively perform on posts by voting them; either upvote or downvote considering the content. PoB makes a chance to involve to the distribution of reward pool among the users by the process of curating. Curation makes a space to add value on most valued contents. When curating on a post, curator can make an influence on the reward pool as the weight of their vesting power. The more your vesting power the more you gain influence on reward distribution.
The distribution of reward among the users totally depend on the quality of their content. Everyone is free to determine whether a content is good or bad. Within the ecosystem, the PoB is something that empowers the connection among worldwide users.
2. What does curation mean to you in Steem Blockchain?
Curation is the process that involves in the distribution of rewards among the blockchain users. You can be either a curator by completely giving your weight to vote on others in the platform or you can make posts while curate others.
Curation process takes place with voting. There are two options; upvote or downvote. The choice is up to you according to your desire. The curation directly responsible for the reward distribution from reward pool. This can determine whether a user is going to be rewarded or not. By putting a vote on a post, we involuntarily contribute to the distribution of rewards from reward pool.
When we put an upvote, we contribute to the allocation of rewarding process to the author. If we put a downvote, we contribute to the recollecting process of reward from author to the pool. The portion or the degree of allocating reward from the pool for a vote is depending on the curator’s vesting power or the stake weight.
3. What are the benefits of building SP?
In the steemit ecosystem, the most important token is steem power (SP). The continuous circulation of the ecosystem is balanced with SP. There are several benefits for users of increasing steem power.
• Earn curation rewards. The curation reward is proportional to the increment of SP. when we curate with more SP, we are rewarded with a considerable amount of distributed reward.
• Give more weight on voting process. We can increase the allocated amount of reward for a particular post by having more vesting powers.
• Make delegations. We can make delegations to communities for their further incremental processes.
• Make a specific influence on the Steemit ecosystem.
4. How do you explain self-upvote as a good or bad social behavior and why?
I think that the self-upvoting is a bad behavior when it comes to an ecosystem etiquette. Within an ecosystem, each and every user should try to engage and encourage others for their existence rather than make priority for ourselves. When we make a post, it is not good enough to have self-evaluating scales to be upvoted by ourselves. We should try to be evaluated by outside to understand about our state within the ecosystem.
5. Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM.
Screenshot
Rank - 183
STEEM price - $ 0.5664
Coinmarketcap - $ 219,155,160
6. What are the different tokens do you earn by socializing in Steem blockchain?
We can earn four tokens. They are Steem Based Dollars (SBD), Steem Power (SP), Steem and TRX
• SBD– when authors make posts, they are rewarded with SBD for their posts with author rewards. This is one of tradable token and we can convert them into Steem in the internal market.
• SP – this is the most important token that one can earns. This is kind of a crypto holding process that we can keep tokens for a long term maintenance of the platform. The more steem power means the more influences on ecosystem. This is a non-tradable. We can earn either from curation/author rewards or by converting steem into SP.
• Steem – this is another tradable token that we can earn by exchange SBD for Steem.
• TRX – this is also tradable and we are rewarded with TRX for the activities within the platform.
Special thanks for the @sapwood for providing information and guiding.