Crypto Academy Season 3 Beginners' Course - Homework Post for Task 1: Steem and Tron

in SteemitCryptoAcademy • 3 years ago

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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?

PoB means Proof of brain, and to me it is like a ledger on which we can assess the value of people’s created content whether beneficial or not and whether it can add to the value of the steem ecosystem. Let’s consider it this way, in schools in real life, for a student to be awarded best student, he must have passed all this courses. His teachers determine whether he has passed on or not. The assessment of how good his work is, is done by the school teachers coming to a consensus. In the case of Proof of Brain concept on steemit, the curators are the teachers coming to consensus.
Based on the value of a post, an upvote is given for a post with good value and an offensive post or a post that represents no value is given a downvote. Upvotes reward content creaters and curators from the reward pool with tokens SBD, STEEM POWER and TRX. Content creators and curators receive 65% of the reward pool of which 50% goes to each. The author receives author rewards and the curator receives curation rewards based on how much voting power they used at the time they voted.

What does curation mean to you in Steem Blockchain?

I see curation as a way of rewarding posts based on parameters we consider valuable. Some of such paramters are originality,value, plagiarism-free and quality. When I am on steemit, I look for original,quality and plagiarism-free posts I believe are of value to both society and the steem ecosystem and I give it an upvote. This rewards the content author.


If I find plagiarized posts and posts I think are offensive and of no value, I give a downvote. This returns rewards back to the reward pool.

Curation is beneficial to both the content author and the curator. How much a curator gives when he votes on a post depends on how much Steem Power he has and his voting mana. A very important factor is also the age of the post. Higher SP means high voting power which means more rewards for both the content creator and the curator.

Curation enforces the Proof of Brain concept by ensuring that only quality original and work of value receives rewards from the reward pool.

What are the benefits of building SP?

In simple terms, your SP dictates how much influence you have on the steem blockchain. When we start out as newcomers, we’re giving 15SP which enough to perform basic steem interactions. Growing this SP is your responsibility moving forward and comes with numerous benefits. Also the fact that all post reward choices have SP rewards in them is a good indication of how important it is to grow your SP. These are some benefits of building your SP:
• The more SP you have, the more influence you have.

• You can grow a following and become an influencer with a high SP. It is no secret the number of followers curators with very high SPs have. This leads to my next point.
• You can create a community and support community members if you have a high SP. People are going to want to be a part of your community if they know their chances of getting support is high there since you have a high SP.
• As your SP grows bigger, so does your voting power and you get to give people more with your votes.
• You also get more curation rewards when your SP grows
• Because of the integration of the TRX into the steemit wallet, building SP by setting posts to 100%SP accumulates both SP and TRX since they’re in a 1SP:1TRX ratio.

How do you explain self-upvote as a good or bad social behavior & why?

Self Upvote just like it sounds, has to do with upvoting your own content. Most young and even old steemians see no problem with this and result to this as they just began and their posts still don’t get upvotes and engagement. What we need to remember is that good products sell themselves and so even if your posts are not getting immediate upvotes, keep producing quality and you’ll observe a change.

Is it a good practice? It is not. I say this because rewards are supposed to be given by the community based on THEIR assessment of your content. Self Upvoting goes contrary to the Proof of Brain concept. Don’t assess the quality or value of your own post by voting it yourself. Leave that to the community.

If Self Upvoting were a good practice, Whales and Orcas on the top of the steem ecosystem would give all their votes to themselves.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
The screenshot shows the price, rank, market cap, 24-hour high and low, 24-hour volume, Current circulating supply and fully diluted market cap of STEEM.

Screenshot 2021-06-25 122752.png
screenshot taken from coin market cap

Screenshot (286).png

This screenshot also shows the all time high price of $8 of STEEM in 2018.
screenshot taken from coin market cap

What are the different tokens do you earn by socializing in Steem Blockchain?
The steem blockchain runs on 3 tokens. What you receive is based on whether you’re an author or a curator. Curators receive curation rewards in SP while authors receive the following tokens based on what they choose to choose to receive as rewards.

An author can receive SBD and SP(50%SBD 50%SP)or Only SP (100% Power Up).

• STEEM: This is the native token of steemit and is worth $0.251 at the moment. You can earn STEEM as rewards from contests or for participation.
• SBD: Depending on the token an author chooses to receive, they can get SBD as rewards if they select their reward in 50%SBD 50%SP.
• STEEM POWER(SP): An author will ways get SP as a reward for their posts if they don’t choose to decline rewards.

• TRX: As Authors receive SP on their posts, they receive TRX in the same amount as they have a 1:1 ratio.

Conclusion

Steemit is real and it pays. For me it has gone beyond a place to earn money into more of a place I feel appreciated for my talents and skills. I am myself and I do the things I like and earn while I do it.

It teaches basic life need-to-knows like refraining from plagiarism and citing, and content etiquettes by the time you finish your achievement tasks. Running on the proof of brain concept, it encourages creativity and quality work.

Thank you professor @sapwood for the lecture. Learning about the basics of the steem blockchain is really nice.


#academy-intro01 #cryptoacademy #ghana #steemexclusive #learnwithsteem #steem #tron
3 years ago in SteemitCryptoAcademy by
$15.05
  • Past Payouts $15.05, 0.00 TRX
  • - Author $7.53, 0.00 TRX
  • - Curators $7.52, 0.00 TRX
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