Homework task by professor @yohan2on || Writing on STEEM Blockchain|| 100% power up

Hello everyone, I welcome you all to my first ever crypto assignment by Professor @yohan2on
Today I will focus on Steem blockchain. Sit and relax on a couch, grab a popcorn and enjoy my blog.

STEEM BLOCKCHAIN

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STEEM is a community-focused blockchain that creates an instant earning opportunity for the network’s users. It is designed to provide an earning opportunity for customers based on their value to the network. It is designed to provide users with a platform where they can post and curate content online, and get paid in STEEM tokens.

The network ensures the fair treatment of contributors by running a reward structure that reflects each user’s contribution.

FOUNDERS OF STEEM

STEEM was founded by Ned Scott, together with a blockchain developer Dan Larimer. They launched the first app on Steem blockchain in January, called Steemit. The app is similar to other social network apps except that it is based on blockchain technology. Ned Scott is business operation and financial analyst at an American Food importing company, Gellert Global Group, from 2012 to 2015 while his partner Dan Larimer is a software engineer and serial entrepreneur who is captivated by blockchain technology, DEXs, cryptocurrency and other technologies.

STEEMIT

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Steemit is the first app that was built on the Steem blockchain, and it launched on July 4, 2016. The aims is to create an opportunity to earn as a creator and a curator. It also provide thoughtfully chosen news, commentaries and offers answers to users’ inquiries.

Creator: These are the set of people that earn reward whenever they write content.

Curator: These are set of people that reward creator for writing a content through upvoting.

The content curators and authors receive 75% of the new coins created.
Users with Steem Power holdings (another Steem cryptocurrency) are allocated 15% of the coins.
The remaining 10% is awarded to witnesses.

Witnesses

Witnesses on Steemit are block-creating accounts, they add new blocks to the Steem blockchain every three seconds. Therefore, STEEM is produced by the network daily.

STEEM AND TRON INTEGATION

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Recently STEEM and Tron (TRX) were integrated meaning users earn both STEEM and Tron (TRX) whenever their rewards are being paid out you They earn Tron (TRX) to the ratio of the SP. Let say you are to be paid 28SP you will automitcally be paid 28 Tron (TRX) also.

TOKENS EARN ON STEEMIT

STEEM

STEEM is the primary coin of the protocol. The pool distributes tokens to users on Steemit platform based on their input.

Steempower (SP)

Steempower (SP) is a STEEM that has been locked or invested that it can't be immediately withdrawn to spend. It also gives more gives you more influence on Steemit. That simple means the more steempower (SP) you have, the more money you give to authors with an upvote as well as the greater the curation rewards you can earn. To earn massive steempower (SP) as an Author you need to set your post earning to 100% power up.
You can also convert you Steempower to steem by powering down, this process takes 4 weeks for it to be completed.

Steem baked dollar (SBD)

SBD is Steem Dollars are liquid stable-value currency tokens designed to be pegged to USD. Steem Dollars can be traded with STEEM, and transferred to other accounts for exchange. Steem Dollars may also be converted into STEEM.

Tron (TRX)

Tron (TRX) is another token earn on Steemit. You earn Tron (TRX) to the ratio of Steempower (SP)

WHERE CAN YOU EXCHANGE YOUR STEEM

There are several cryptocurrency plartform where you can exchanges your STEEM/SBD to another cryptocurrency or local currencies.

A user can make use of Binance STEEM can be easily be traded for bitcoin or ethereum then convert the bitcoin or ethereum to your local currency. Here in Nigeria we make use of Roqqu, it is an exchanger that gives you Naira directly to your bank in exchange for your STEEM.

CONCLUSION

To those that spare their time to read I say a very big thank you.
To the attention of @steemitblog and @yohan2on this is my assignment task.

Thank you all for the supports

Cc:-
@steemitblog
@steemcurator01
@steemcurator02

This post is set at 100% power up