PROOF OF BRAIN CONSENSUS MECHANISM| 10% PAYOUT TO STEEMKIDS.

Hello Steemit community. I wish everyone a lovely time on steemit.

This is my first time writing on #steemkids community. I am @mobibliss. Since this community is primarily for kids and parents alike, I will endeavour to make this post as simple as necessary.

INTRODUCTION

Blockchain is a decentralized platform, what it means is that unlike centralised systems like banks there are no middle control on the platform. Transactions are done peer-to-peer (person to person) without any intermediary.

Among the purpose of blockchain on the first place was to remove centralised influence and allow people to transact freely with one another without a middleman.

However, there must be a sort of rule that guides operations on the platform on which everyone accepts. Without such set of rules Blockchain will be like a city with lots of cars but without traffic laws. Imagine how disorganized that could be!

The set of rules that guides the way a blockchain platform operates or are governed is known as its consensus algorithm.

There are lots of consensus algorithm which has been employed by blockchain platforms. For example the first cryptocurrency, Bitcoin and the second most valued cryptocurrency Ethereum makes use of "proof of work" consensus algorithm. This set of rules requires that some individuals validates transactions on the blockchain, create new blocks and bundle records of new transactions into the newly formed blocks. This process is known as mining. The validation and creating of new blocks attracts block rewards which are newly minted coins.

A miner by finding new blocks has given a proof of work and therefore is entitled to a reward which are newly-minted tokens. However there are bad sides to this consensus algorithm. One of such bad side includes that to mine a new block in proof of work consensus algorithm requires high computational power which for the present can only be achieved by high and efficient machines. This is costly to set up and maintain. Additionally, to run such node will consume high electricity which is an added cost.

Another popular consensus mechanism is the proof of stake consensus mechanism. In this consensus algorithm to mint new token a miner will need to stake or deposit a large sum of his token as collateral instead of investing in equipments and then he could mine blocks. In this algorithm, a user's investment (proof of stake) qualifies him to validate blocks and mint new coins. While there are advantages to this algorithm which means that the high an investor's stake in the platform, the more responsible he becomes and therefore more qualified to be entrusted with the responsibility of minting new tokens : however, it also gives a centralised system idea - the winner has it all; the rich gets richer. Therefore, true decentralization might not be the case.

Every blockchain platform has this rule: that once a new block is discovered new coins are minted. A problem with the two consensus mechanisms mentioned above is that the block miners eats the reward of the minted tokens. That means that new coins are distributed within the miners only.

To solve this problem a more democratic pattern of distributing and minting new tokens became in use which is known as the delegated proof of stake. This consensus algorithm mimics democratic method to achieve consensus . The platform selects block producers, whom are also called witnesses, this block producers are voted by users through a staking pool - a kind of program by the platform. The witness with greater number of vote wins and is allowed to mine new blocks. The block reward will thereafter be shared amongst the block producer and the users who voted him. A user's share of the reward will be according to the weight of his stake on the platform or the number of coin he possesses. The higher a user's stake or the number of coin he possesses, the higher his reward and vice versa. The beauty of this process is that everybody wins.

This later mechanism will help us to grasp what we mean by proof of brain consensus algorithm in Steemit. Now let's get to the point.

What do you understand by proof of brain?

Proof of brain in steemit is not a mechanism for minting new tokens like the above mentioned algorithms. Steemit already utilizes delegated proof of stake consensus algorithm for ensuring consensus and minting new token.

Proof of brain is rather a sharing mechanism: a mechanism for distribution and redistribution of newly-minted tokens in the steemit ecosystem.

In steemit blockchain new blocks are produced every 3 minutes at a fixed rate. The block rewards are newly minted tokens. These goes into what is known as the "reward pool" and thereafter are distributed among the block producers, the vested token holders, and the content creators and curators.

The block producers gets 10% out of the reward pool, the vested token holders gets 15% and the content creators and curators get 75%.

graphical representation of steem sharing formula.

•••

how it differs from proof of work distribution formula.

• In proof of work the miners gets the block rewards alone.
• In steem blockchain the block rewards are shared amongst all contributing to the platform.
• Steem is more focused on content creators and curators and they get larger percentage out of the reward pool.

How it is similar to proof of work consensus algorithm.

Proof of work is machine focused. It is the high equipments and the computational works done by the nodes (computers) that shows proof of work.

In steemit, users also show proof of work by making use of their human natural wit known as proof of brain instead of computers.

The stake weighted mechanism. (Sp)

This is a method of distributing or redistributing the newly minted tokens to the content creators.

The more stake a user has in the platform, the more the influence he gets either to distribute or redistribute tokens to content creators. This influence is know as steem power. (Sp) The more the stake, the higher the influence either to distribute or redistribute.

• By voting on a content a user is distributing token to the content creator. The value of what one can distribute depends on the steem power.

Steem favours the use of our natural brain in either creating good content or curating it.

Proof of brain for content creators.

When a user creates good content using his natural wit, he has given "proof of brain", and has added value to the platform. A content is good when it makes an impact to the reader. The reader benefits by being informed or entertained.

A content is good when it is not plagiarized. Coping another person's work and claiming ownership do not show "proof of our brain" rather it amounts to stealing and this is bad.

Proof of brain for curators.

The work of a curator involves finding good content. When a user read through a content, he can do the following if he benefits:

• Upvote. By upvoting he agrees that the content is good and he has distributed a token to the creator. The value of the token he can distribute depends on his Steem power.
• Resteem it. By resteeming, we are making the post popular, allowing our followers and those who visit our blog to discover it.

Proof of brain therefore involves the use of our natural wit in either creating or curating contents. All all the activities involved in doing these is know as as proof of brain.

Why is it important to know and understand it?

Understanding the proof of brain concept helps one understand the activities we do here on steemit. It explains how we earn and why we should work hard in supporting the concept by making valuable contents and curating such.

How can you apply it?

1•

• Write good contents. Show a proof of your brain by giving your best in writing good content. Your content must be your own making. If you must copy or take something from someone else' work, it need to be properly referenced, giving credit to the main author.

• Make your content neat and eye catchy. Use various formating styles. Use important tools to check grammar and plagiarism, like "grammerly".

2•

• Curate good contents. Voting on contents simply based on sentiment works against the consensus mechanism. Read through, vet the content if possible and then give your judgement by upvoting it or downvoting it.

• Report plagiarism By reporting plagiarized work we are adding to free the platform from harmful elements.

3•

• Build your sp. It is important to build our steem power. It gives us power to upvote. It also influences the worth coin that is distributed to you.

How does it relate to our stay here as steemians?

When we make good contents continually, our work will be appreciated and our reputation in the platform will increase.

When we make shabby contents our work may not get most of the votes.

If we continue on plagiarism, we may not get an upvote at all, rather our account can be muted.

How can we learn to make use of proof of brain?

Creativity is the key. Unique work shows proof of brain and that is expected. #Steemit #cryptoacademy is working on ensuring that it's writers show proof of brain by working on the requirements for proof of brain.

#steemkidss is a concept of it's own, and it shows proof of brain. We shall endeavor to remove false contents and make the community achieve it's goals.

In summary, we learn to use proof of brain by being creative and working by the rules of steemit platform. There are no better ways to learn than to work by the rules. Also, you can learn from what others are doing too.

What are the challenges?

One of the problem facing proof of brain is that some have abused it. For example, some users may not take care to curate contents, but rather choose to do business. Good contents may be overlooked while some shabby works receives upvote. Steem however is making conscious effort to discover content by involving you and I to join in content discovery.

The idea of random voting is a challenge. Usually this is done by bots. Such undermines the concept of proof of brain.

Despite these challenges steemit is place to be. we want to keep making good contents. The more we keep making quality post, the more our chances and definitely someday, we will be discovered.

Thank you everyone for reading through. Wish you a lovely stay on steemit!

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