Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: [STEEM & TRON]
Today's lesson covers a very important topic "STEEM & TRON". Thank you Professor @sapwood for letting us know about STEEM & TRON through this lesson. I learned many unknown things. I hope the lesson will be helpful for everyone.
(1) 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
PoB is the abbreviated form of Proof-of-Brain where content creators earn rewards by making good quality content as their proof-of-brain in Steemit. Steemit is a decentralized platform that belongs to Blockchain. Content creators add value to the blockchain by adding content interesting to the users. There are two types of rewards that can be obtained from Steemit author reward and curation reward.
The rewards obtain happens based on the received upvotes and on the amount of Steem Power (SP) of the user. Authors produce good content and get rewards as per upvotes. Curators curate those contents by upvote or down vote. More percentage upvotes from a higher SP holder curator adds more value to the content. Similarly, down vote decreases the value of the content. Rewards are distributed 50% to the author and 50% to the curator.
By writing good articles we get upvote of more weight. For example, in Cryptoacademy, articles that get more marks, such as 9/10, are given more weight upvote. But if you get low marks, you will get less weight and you will get less reward.
What does curation mean to you in Steem Blockchain?
Curation
Everyone on the Steemit blockchain publishes content, but good quality content is curated and the author gets paid. Curators curation according to the value of the post. We can compare the matter with the examination. In the examination, all the students who write well and give a good exam are given more marks. Curation is exactly the same, here the curation is done according to the value of the post.
Since authors are rewarded here through curation, many people resort to various plagiarism. These things are taken care of before curate. So you have to use your intellect to create unique content. With good effort, we can get good feedback.
You need the following criteria to get curated
Plagiarism must create free valuable content. If any part is taken from somewhere, the proper citation has to be done.
Resteem so that the post is visible to more users.
Interaction between posts must be increased. If necessary, you have to share the link on social media.
Before curing someone's post, you should read it and check if there is plagiarism. And to be eligible for your own post curation, you have to follow the above rules.
What are the benefits of building SP?
The benefits of building SP
It is very important to build SP on the Steemit platform. Having more SP has more influence on the platform. In this way, curation can be done in the best posts of different communities. Curation gives both author and curator rewards, which is a big advantage. You need to build SP to increase trust between users on the platform.
If we have more SP, one more thing we can do is delegation. A powerful account can be created with many people through delegation, so everyone will get the benefits of that account. Moreover, many do not want to curate, they get delegation rewards from sitting through the delegation.
Those who have a small SP have to work in different communities if they want to do something good. But most of the commune curation accounts are not so powerful so if you delegate there, that account can be made more powerful and the community's confidence in the user's increases. In this way, we can enrich our account by increasing SP.
Steemit now gives us curation rewards with SP in TRX now. This is our additional profit. It was added 1 year ago. So we have to increase the SP and do the curation, then help to give the value of good posts and generate my rewards.
How do you explain self-upvote as a good or bad social behavior & why?
The Steemit platform encourages us to curate good content. But self-upvote does not help us understand the value of our own post, because upvoting one's own post is bad social behavior. This is what other people think about your post. Although self-upvote can be given if you want, it seems to me bad social behavior.
We have the opportunity to generate rewards on the Steemit platform through proof of brain. So if you leave it to others without proof of your own work, you will be satisfied with the result that comes from it.
Also, many people keep auto-vote on. This is also bad social behavior because of the various plagiarized content votes. So it should not be done. This disrupts your brain test.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
Exploring Coinmarketcap.com
To explore Coinmarketcap.com I visit the website. After visiting the website the following interface will be available. Then I search for STEEM in the search box as marked on the screenshot. Then I click STEEM.
STEEM's current market price, capital, volume, 24 hours change. Apart from these, I can see much more important information. I have marked Rank, STEEM price, and Market cap in the screenshot.
- Rank : #182
- STEEM price : $0.6111
- Market Cap : $229,020,480 (0.80%)
The data were collected on 1st September 2021.
From Coinmarketcap we can also know Volume (24h), Cirtulating supply, Total supply, Overview, Historical data and also news of the coin.
What are the different tokens do you earn by socializing in Steem Blockchain?
The different tokens we earn by socializing in Steem Blockchain
STEEM
STEEM is the token of Steemit Blockchain. STEEM is a tradable and exchangeable token that can be achieved by either converting SBD or powering down your SP. STEEM can be back to SBD by converting. STEEM can be transferred into SP by powering up the process. Users actually get SBD, SP, and TRX as their author reward and SP and TRX as their curation reward. These all tokens are tradable.
SBD
SBD is the token that is earned by authors from their posts. SBD stands for Steem Dollars. SBD is tied with the USD Dollar in a 1:1 ratio. But the real value of SBD in the market is much higher than USD. The current price of SBD is $8.30 by the time of writing this post. SBD can be converted to STEEM in the market section of Steemit Platform.
SP
SP means Steem Power. These tokens give user influence on the curation of posts. The higher SP you have you will get a higher influence on the platform. SP can be earned from the post or by curating a post. SP can be converted back to STEEM by powering down the process. STEEM can also be converted to SP by powering up.
TRX
The TRX token was not given before but has been given for one year. TRX and SP 1: 1 ratio is available from any post. The price of TRX is much lower than that of STEEM and SBD.
Conclusion
Steemit is a decentralized social blockchain platform where users generate rewards by creating content and curation content. The platform is based on Proof of Brain (PoB) consensus algorithm. PoB gives users the reliability to post good quality content and curators curate good content.
To increase the interaction between the post, each post must be shared on resteem and other social media. More votes and comments will help increase the value of the post. Then the chance of getting more curation reward will increase.