Crypto Academy Season 3 Beginners' course -Task 1: [STEEM &TRON ]
BEFORE YOU READ THE POST I WANT TO TELL YOU ITS MY FIRST POST IN THE CRYPTO ACADEMY.
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?
What is PoB?
Well! PoB stands for “Proof-of-Brain”.If explained to a newbie I would define it as,its the proof that rewards are given by human intelligence not some random AI based robot.A brief explanation would be delivered as,Whenever we upvote a post we direct the system to release a certain amount of reward to the user.One will upvote the content if it adds something to the community.The reward delivered to the user is completely based upon the influence power which in this case is steem power(SP).So if you upvote a post you use your human intelligence to judge whether it deserves rewards or not.Simply we can say that proof of brain is a combination of stake weighted mechanism(which in this case is steem power)and the brain power of the people and the reward pool that is distributed or redistributed by the users.
What does curation mean to you in Steem Blockchain?
Curation in steemit is a way to support a particular post.Curators view your post,lookout for its originality,lookout if its plagiarised,lookout if it adds value to you or community.If the post if non-plagiarised,original creation of your own mind,also adds value to steemit community or your own life,then the post receives an upvote.An upvote is a process of distribution of rewards from the reward pool to your account/post.
What are the benefits of building SP?
Well! In a way building an SP is staking your steem.Well it might not be called staking in steemit,but it is staking in a way.Building an SP means using your rewards to increase your influence on steemit.Well now we understood that what is building SP.Lets talk about what are benefits of building SP.
Well there are various benefits few of them are as
- Increases your influence on steemit.The more SP you have,the more important part of the community you become.
- Increase in post engagement.Post engagement is how many people see your post.The more SP you have the more it is visible to people.
- Increases your vote value.Increase in vote value earns you more & more curation rewards.
- Increases your influence in distribution of PoB reward pool.
- Earning interests Vested Token Holders earns 10% of the total reward pool
- Increase in trx earning.With better SP you can get upto 1:1 TRX:STEEM.
- It allows to be a part of blockchain governance.It means you can govern the block outcome & you can also apply to be a steem witness if you have enough influence.
How do you explain self-upvote as a good or bad social behavior & why?
It is not illegal in steemit,So as per the rules it is allowed.But it is something that is wrong socially.Well according to me self-upvote is a bad social behaviour.It shares false information.One thing is for sure,if i upvote a low quality content,i will never be able to make upto community judgement,which means i am wasting the vote.Same thing happens for self upvote,its an useless act.It doesn’t earn anything.So it is socially as well as monetarily wrong decision.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
Steem current price
Steem information
So as from the above screenshots we can see that
- The current price of steem is 0.2176$.
- The rank of steem is 274
- The market cap of steem is 85.598 M
What are the different tokens do you earn by socializing in Steem Blockchain?
The tokens that we get by socialising of steem are SP(STEEM POWER),SBD(STEEM BACKED DOLLAR),TRX(TRON).
We can convert SBD to SP using the market in steem wallet.
Well the liquid tokens among these are SBD,STEEM,TRX.