PhotoChain - Block 00004
Hello Steemians!
This is the PhotoChain's Block Number 00004.
1.First: What is PhotoChain?
The PhotoChain Challenge is a blockchain-like photography contest. If you would like to know more about, read the PhotoChain Challenge INTRODUCTION Post. There, I explain the functioning of the contest and how to participate.
2.PhotoChain as a Blockchain's Functioning
The cryptocurrencies ecosystem is born after the advent of the blockchain concept. With PhotoChain I would like to introduce some mechanisms which are commonly used in this functioning, trying to make them a little easier for those who are beginners. Obviously I do not want to create a blockchain course also because the fundamental pillar of this technology - and that here becomes impractical - is its distributed nature. Mine is just a slightly creative method and - I hope - an original way of getting used to some basics, all while having fun and growing on the Steem Platform.
3.How?
Here I introduce the Block concept in the PhotoChain Challenge.
In the cryptocurrencies ecosystem, every cryptocurrency is sustained by a blockchain. The blockchain is a modern technology: many computers from many countries work resolving calculations. Sometimes, the blockchain validates a Block: A block is a group of transactions - simply a list - where every transaction can be traced (there are exceptions in some types of cryptocurrencies focused on privacy).
So, the first common point: now we introduce the Block also in the PhotoChain Challenge. Here, the block will be a post I'll write that will contain a group of pics; particularly, the photos of the winners for the previous 4 weeks of the contest.
And here we are.
On the blockchain, every computer can guess a nonce, a kind of code that identifies the block, validating the block itself. Each of the computers that carry out these calculations is called miner - the concept is a bit more complex because a miner is a kind of account that can work even with multiple computers but, to understand the basics, what I said above is sufficient.
What's the nice thing? That every miner who guesses the nonce - that code that is associated with a block - receives a cryptocurrency reward generated by the blockchain.
This whole scheme of work - which in computer science is called algorithm - is the so-called Proof of Work (PoW): in a nutshell, computers hard work trying to find the nonce in order to earn the cryptocurrency reward.
Here is the second point in common: bringing the Proof of Work into it by likening the winning competitors to the miners who guessed the nonce. In this case, we can talk about a different algorithm, like Proof of Transaction - I invent it myself, you don't pay too much attention to it -. Here the miners who guessed the transaction, that is the winning photo, are rewarded.
And where does the prize come from? Using Steempeak to publish the post I have the possibility to choose 8 beneficiaries that will be rewarded with a percentage of the value of the post in steem. Currently, I decided to set it at 11%.
Let's summarize again: every 4 weeks I write the post - which will be the Photochain Block -. Each block will contain photos of the 8 winners in the previous 4 editions. At the time of the payment of the post 7 days after its publishing, each of them will receive 11% of the value of the post in steem.
Total Beneficiaries Payout: 88%
4.And the Rest?
The third concept. Considering that I am still a small little fish I would also like to have my part in the block validation and reward; I who created the contest and therefore I hold the rights over him: I, therefore, have the shares of the competition.
There is a second basic algorithm in the cryptocurrencies ecosystem in which to validate the blocks and receive the rewards there are not the miners but the holders - or hodlers -, who hold the cryptocurrency and decides to stake it. In this type of work scheme, it is precisely those who hold this type of rights that goes to validate the blocks and earn the associated rewards: this algorithm is called Proof of Stake (PoS)
Taking this type of algorithm to our PhotoChain, 12% will go to me - and I must admit that this type of algorithm is very nice for me in a case like this :)
In the crypto ecosystem, the set of algorithms Proof of Work and Proof of Stake is called a Hybrid System precisely because it unites both within the same work scheme. For some time now also various tribes here on steem have begun to use hybrid mechanisms to assign their tokens.
Finally, to sum up: I write the post - the block - which contains the photos of the winners of the previous 4 weeks; 7 days later the time for payment arrives; each author of the photo mentioned in the block receives 11% of the value of the post in steem for a total of 88%; I receive the remaining 12% reaching 100% of the value of the post.
All clear?
Last annotation: the reward method will be set to 50/50(steem/steem power) and it must, however, be taken into account that on the value of the post all the curations that the steem blockchain independently deducts will be deducted. I currently have no power over the various tokens - and I don't know if they will be assigned automatically or not - I can only ensure you that in the event of rich arrivals I will undertake in the future to reinvest them if not all, almost.
And now: Ready? Go!
PHOTOCHAIN - BLOCK 00004
- - -
BLOCK 00004
- - -
Tx 01
A picture by @luigi-the-gnome
with a curious subject in a vanishing photo
Tx 02
A picture by @melinda010100
with a perfect representation of flying birds
Tx 03
A picture by @trincowski
with the sparkling water of a Vienna fountain
Tx 04
by @bambuka
with a retouched photo of a rock that hovers in the air
Tx 05
A picture by @qwerrie
with a photo that reminds us of camping times
Tx 06
A picture by @barbara-orenya
with a splendid landscape in the mountains
Tx 07
A picture by @melinda010100
with a spectacular landscape on the shore
Tx 08
A picture by @qwerrie
with some rocks overhanging an expanse of water
Thank you all for participating in this challenge!
@qwerrie @melinda010100 @nelinoeva @iamraincrystal @bambuka @trincowski @isabelpena @mauriciozoch @gingbabida @bucipuci @barbara-orenya @adinapoli @centenojesus @luigi-the-gnome @dronegraphica @eii @lifeskills-tv
If you want to enter the block, you can join in the contest. I publish a new edition every week. Here the Last Edition
Molto belli davvero gli scatti che hai riportato....
!BEER
!DERANGED
!SHOP
!MARLIANS
!COFFEEA
!giphy smile
!trdo
Troppo buono, tutto merito dei partecipanti, sono loro che danno valore al contest 😊
!DERANGED
!COFFEEA
!giphy smile
Posted using Partiko Android
giphy is supported by witness untersatz!
Congratulations @mad-runner, you successfuly trended the post shared by @davidesimoncini!
@davidesimoncini will receive 6.79753013 TRDO & @mad-runner will get 4.53168675 TRDO curation in 3 Days from Post Created Date!
"Call TRDO, Your Comment Worth Something!"
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
giphy is supported by witness untersatz!
Lucky you @mad-runner here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness
Cheers and !BEER
To you 😁
!COFFEEA
Posted using Partiko Android
!popcorn
more !DERANGED !BEER with !MARLIANS for you.
!invest_vote
:-))
View or trade
BEER
.Hey @davidesimoncini, here is a little bit of
BEER
from @bambuka for you. Enjoy it!Learn how to earn FREE BEER each day by staking.
Lucky you @bambuka here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness
Lucky you @davidesimoncini here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness
what about the new logo -- still work in progress?
!BEER !DERANGED !MARLIANS
In the next few days I'll post a new cover for the challenge. I hope you like It 😎
!DERANGED
!COFFEEA
!BEER
Posted using Partiko Android
i hope so too! frankly speaking, this current one doesnt appeal too much to me xD
if this will not happen... may I suggest to throw in some design efforts help, too?..
Yes, why not? 🙂 I'll publish it soon
Posted using Partiko Android
Lucky you @qwerrie here is your COFFEEA, view all your tokens at steem-engine.com Vote for c0ff33a as Witness
View or trade
BEER
.Hey @qwerrie, here is a little bit of
BEER
from @davidesimoncini for you. Enjoy it!Learn how to earn FREE BEER each day by staking.
Congratulations @davidesimoncini, your post successfully recieved 6.79753013 TRDO from below listed TRENDO callers:
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
View or trade
BEER
.Hey @davidesimoncini, here is a little bit of
BEER
from @mad-runner for you. Enjoy it!Learn how to earn FREE BEER each day by staking.
View or trade
BEER
.Hey @davidesimoncini, here is a little bit of
BEER
from @bambuka for you. Enjoy it!Learn how to earn FREE BEER each day by staking.