Crypto Academy Season 5 Beginners' course - Homework Post for Task 2::STEEM AND TRON BY @young-boss for Sapwood
INTRODUCTION
Peace to you, a great pleasure I have here to participate in this second fixed task. Here I will be talking on Steem and Tron which are the rewards we receive in the case our posts on the academy are upvoted and also focus on the Proof Of Brain (POB) concept.
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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
What is PoB?
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Proof of Brain is the full meaning of what the acronym PoB stands for. On this very anti-plagiarism platform, it involves having an individual having to create each of his material on his own without having to steal or borrow from an external source. The benefits from this are numerous such as the author being rewarded greatly for the work listed. Another point here noted is that it isn’t all rosy and sunny as content seen to be copied can result to downvoting by others as the reverse is true.
When material is upvoted, the rewards come in the form of steem dollars, tron, steem and steem power with their respective worth. The author and the curator are all able to claim their rewards after 7 days.
What does curation mean to you in Steem Blockchain?
When a steemian with an intense volume of steem power rewards a material written by another as a result of seen potential and creativity, the process is referred to as curation. As rightly thought, not all steemians have the same weight of curator rewards as the relationship between curator rewards and steem power are directly proportional.
My point of view on this is it helps to forge on the write-up process by authors as this is a primary fuel for them thus reducing the copy and paste propaganda that circles the community.
What are the benefits of building SP?
SP stands for Steem Power. It refers to the measurement of how much influence a user has in the Steem platform. It shows the maturity, the worth, the authority, the “power” as rightly found in its name, of the user. It can also be rewarded and claimed by both the author and curator after a custom period of 7 days.
Like in the society, any man of financial mediocrity looks upon the rich as a demi-god in daily functioning of affairs, so here too, a man of intense steem power is usually eyed upon not only with respect but with plea as the author hopes for the curator to upvote his post.
This is such a sweaty tool as I worked for day and night to be able to accumulate the required Steem Power needed to be part of this community. With this high steem power, the owner of course will have a large fan-base (followers) and can delegate to any community of his choice receiving steem as his reward at a decided interval.
How do you explain self-upvote as a good or bad social behavior & why?
Self-upvote is the process where a user that has much steem power decides to register or support only his posts regardless of other author posts. I consider this to be a very high level of greed and thus a deeply bad social behavior.
The reason for this my opinion is that, if we as a society should grow, we should always provide a helping hand to the poor. If a user with much SP decides to upvote other author posts, not only encouragement does he offer but a rewarding system for the hard work put in by the authors. This promotes creativity, artistry, self-development, community development, plagiarism redundancy, and rewards.
If not reduced, newcomers in this platform will look at those practicing this ill-advice and tend to flee and be discouraged which is exactly what we are against here. I will humbly beg we all try to help others because there is absolutely no point being the only rich man in the room.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
I will do this in a series of steps enumerated below;
- step 1
Go to the website website
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- step 2
Go to circled portion above and fill “steem” and after that you search.
- step 3
Now, results of steem are displayed as shown and a proceeding table will be used to summarize it.
Steem | Information |
---|---|
Rank | #320 |
Steem Price | $0.4069 |
Market cap | $159,746,316 |
Fully diluted cap | $165,763,530 |
Volume/market cap | 0.7368 |
Volume in 24 hours | $116,804,003 |
Circulating supply | 394,951,699.00 STEEM |
What are the different tokens do you earn by socializing in Steem Blockchain?
- Steem
In this community, it is a reward that can be obtained from communities (uploading quality material) or from friends. It is one of the most common rewards gotten from successfully participating in contests. - SBD
As said time and time again, if quality content is uploaded and a curator, someone with intense steem power or booming happens to come across it, the author is rewarded through upvoting with SBD which can be converted to Steem through powering up if the user wills.
3 Tron
It is a common 1:1 reward users here on steemit enjoy. Meaning that if a user has been rewarded with some steem power, the same proportion of tron shall he enjoy. It can be kept or sold depending upon the choice of the user. - Steem Power
One of the worthiest of them rewards, it is gotten from participating on forums like the crypto academy, from uploading meaningful and eye-catching content. It defines a steemian.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
Two primary methods which I have learnt of are seen below;
- FREEZING
I deposit part of my trx in the tron ecosystem and will be rewarded for it. - STAKING
This is a process used to verify crypto transactions. I will get a percentage of my earnings used to stake in the tron ecosystem.
CONCLUSION
After fulfilling this task, I have learnt a lot especially on steem and its market price significance. It has also helped me to be able to invest in my future by either staking or freezing or both my trx accumulated.