Hello Steemit Crypto Academy Community and Prof. @yousafharoonkhan for the class. Here I am answering the homework task questions. I appreciate the class and hope to see more of other classes from the Prof.

---

Q. 1 Decentralized and Centralized Social Media Platforms

---

Let's first discuss the centralized social media platform.

Centralized Social Media

---

Every website owned by the corporations around the world have the control of their own content. If they allow the public to post on their website in this case a social media website then they retain the right to delete or modify that content. This is covered in their terms and so they are liable for the speech suppression and the user deletion. This sort of the central control on social media website is called as a centralized social media platform. e.g. Twitter, facebook are centralized social media platforms, they take political bias and delete accounts if you don't agree with their views.

Decentralized Social Media

---

To combat the freedom of speech challenge social media platforms owned by community of developers host the community servers. Developers work on the code. They may or may not make money. They don't ban and delete accounts for political and ideology reasons. Nobody owns the code and the domain name. They allow anyone the freedom of speech and do not censor people based on opinion. This sort of the social media platforms are called as a decentralized social media.

Difference between Centralized and Decentralized Social Media

---

Centralized Social Media

1. Centralized social media sells your data to advertisers.
2. Centralized social media gives your data to govt if asked.
3. Centralized social media bans you for your opinion.
4. Centralized social media forces changes on you which you don't like.
5. Centralized social media does not allow anonymity.

Decentralized Social Media

1. Decentralized Social media does not sell your data.
2. Your private is your own and they don't store your data.
3. Your data is not sold to govt even if the govt raids the server.
4. Your opinion does not get you banned from site.
5. Decentralized social media have no issues with anonymity.

Q. Future of Social Media - Centralized or Decentralized

---

Decentralized social media seems like the future. Barring the cost of the server and the moderation of the various opinion. The future of the decentralized social media is definitely here to stay. Only reason centralized social media is surviving is because of the existing popularity and the people who already invested their time and money on them which makes them still in demand.

Barring the lobby of the centralized social media, we can see that population around the world has started navigating towards the decentralized media for various reasons. Including the monetization value that one can get which is not possible with the centralized social media. e.g. twitter and facebook does not pay you for content.

---

Q. How Steemit is Better than Facebook and Twitter

---

Facebook and Twitter ban you for your freedom of speech. You get banned for now following their opinion. You also get banned from those social media sites for using curse words. Which can be acceptable in one place but not the other. The type of NSFW content is also not acceptable on these social media sites. Another big downside of such websites is that they do not allow you to monetize your written, video and audio content from day 1. They require you to have 1million views and 10k followers before you can apply.

Steemit on the other hand is different. You can host various types of acceptable content which is not possible on the facebook and twitter. You can also monetize your content on steemit from day one and all it takes is an upvote. Steemit also allows you to have your own political view. This will also benefit you to write on politics, religion and other censored topics.

---

Q. How does Steemit changes lives?

---

Steemit has allowed anyone from anywhere on earth to post their content. The content posted on blockchain remains on the blockchain and can't be removed just because other people disagree. The content is also monetized with SBD, SP and TRX which are dependent on the upvotes. This results in small economy being formed in the social network.

Many people from the africa, venezuela, asia are now starting to monetize and withdraw their coins to the FIAT. And this has created an income stream for the people who have lost the jobs during the pandemic. Some of people are also generating the charity income through steemit. A lot of people also using steemit for selling their books, farm products and the stories too.

Steemit has made it possible for people to monetize their content and earn some reasonable monetized value for the same.

---

Q. How Does User Make Money with Steemit

---

Steemit community allows anyone to register on their website. After registration one can join various communities based on the interests. If you happen to like the content and wish to post in such community, you can do so. And if the other people like your content, they can vote on it. After 7 days of the maturity of post, the upvotes convert into Steem Dollar, Steem Power and TRON. You can check that progress in the wallet. This is the way you can earn crypto income on this platform.

Q. How to create communities on Steemit

---

Here are the steps to create the community on steemit.

1. First step is to go to Wallet page from the user menu.

2. Click on the Communities tab as shown in the page.

1. Now add the community name and the about description of the same.

2. Save the community code and the password that is generated in the next step.

1. Click Next to confirm the community creation step which requires 3 STEEM.

1. The next step would be adding the password and then sending the steem to create the community.

That's it. Now you have your community created on Steemit. You can now manage, post and handle the content.

Conclusion

In the class we learned about centralized and decentralized social media. And we also learned how to make money with steemit and finally we learned how to create new community on steemit too.