STEEM & TRON- Steemit Crypto Academy Season 5 - Homework Post for Task 02 || for Prof @sapwood || by @msalmanjaved

in SteemitCryptoAcademy2 years ago (edited)

Hello Everyone!

Greetings to All
I Hope everyone is doing well!

Introduction

My name is Muhammad Salman Javed from Pakistan As My complete Introduction is here .
I am much obliged to Steemit Crypto Academy where we have so many things to learn about Crypto World.

I would like to thanks Prof @sapwood for this Course which helped me to develop the understanding of STEEM & TRON.

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Home Work Task : STEEM & TRON

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Get Started


There are Some Questions related to this Home Work which i am supposed to answer are given Below as

1. What is PoB?

2. What does Curation mean to you in Steem Blockchain?

3. What are the benefits of building SP ?

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

5. Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required) ?

6. What are the different tokens do you earn by socializing in Steem Blockchain ?

7. How would you use your TRX earned in Steem Blockchain to optimize earning in Tron Ecosystem ?

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Question 1 : What is PoB ?

The word POB is short form of Poof of Brain (P-O-B) this is a concept related to the rewarding anybody over his content, we can say this is a mechanism which ensure proper and effective distribution of reward on SteemIt platform.

In simple words we can say this is the rewarding system to an author for its content by analyzing the value of content and its benefits to other SteemIt users.

We can define the POB is the combination of these three things
1. Reward Pool
2. Stake-Weighted Mechanism (SP)
3. Wisdom of the People

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Image Source

1. Reward Pool

As the name is showing this is designated area on Steem it where newly minted tokens have been collecting and distributing to content.

Content Authors and Curator have 65% of its share they are main beneficiary of reward pool, and on the second number those came who have high vesting token money in other words with high Steem power.

2. Stake-Weighted Mechanism

There is a mechanism defined on SteemIt for distribution of reward from the pool to the content, which is in form of Upvote and Downvote, and again who are with high SteemPower have more influence over this distribution.

3. Wisdom of the People

Because this is Blockchain-based social media which is decentralized, here Wisdom of people defined as Evaluation of good and bad content and on the basis of it upvote and downvote to content made by people.

All of these makes together the concept of Proof of Brain

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Question 2 : What does Curation mean to you in Steem Blockchain? ?

As we see on other social media plat form like facebook and Instagram when a person post content about any topic, then his followers and friends evaluate that content if they like then they give some reaction to that content, its mean they are appreciating the content.

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This image Source

Same like the concept of Curation on SteemIt platform, as this is Blockchain-based social media so people visit on your content they read it, evaluate your post either this is beneficial or harmful for the community and then they decide to upvote and downvote on your post, and Resteem your post or decide to ignore as it is, all of these things will defined the Curation on SteemIt.

There are millions of people on SteemIt platform and they are generating content on daily basis on different areas and topics, Curators only see the valuable content which changes the lives of other ad beneficial for others so they do

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  1. Read Complete Post and Evaluate without biasness.
  2. Evaluate the Benefits of Contents and check either it is plagiarized/spam or useful content for other users.
  3. Upvote if they found it useful.
  4. Downvote if they found it guilty.

All of these makes the Curation on Steemit, and the piece of content which is curated by many such individuals it is called Curated content.

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Question 3 : What are the benefits of building SP?

Building SP term is using for the making Steem Power High by more power up than transfers. Steem Power is an influential power on SteemIt plat form and there are many of benefits for Steemiens to increase their Steem Power.

1. High Voting Power

Steam Power directly linked to voting Power, if someone have High Steem Power his Voting and Devoting power weightage also high.

2. Better Influencer

High Steem Power also plays a role of Better Influencer on SteemIt, because if someone have High Steem Power, his vote value is high and if he upvote to content then content author will definitely follow him back, and increase of followers makes you a influencer.

3. Better Curation Reward

When a person with high Steem Power upvote to a content then after payout of that post he will get more percentage of curation reward in return.

4. Better ROI
This is also better return of investment in term of if one powerup regularly and and convert steem into SP, he will earn more fatly as compare to those who have less SP.

5. More Curatin Reward from Steemcurators

Now SteemIt Curators have started different contests like #club100, #club5050 and #club75 in which participants get more Curation rewards than others.

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Question 4 : How do you explain self-upvote as a good or bad social behavior & why ?

In my point of view Self-upvoting on steemIt network is not recommended and this is Bad and unethical Social behavior, because on SteemIt platform there is mechanism of Curation of posts where other people land on your post see the content and after analysis on it they do upvote and downvote.

On the other hand if a person do upvote on its on post its mean he is not analyzing the content on real grounds because he will never point out its mistakes and never downvote itself.

Self upvoting is just like someone is praising itself by itself and he will always give himself a good grades, same like on other social media applications like Facebook etc. If a person like its own content seems like he is the victim of self-praising.

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Question 5 : Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required) ?

Step 1
for visit the Coincapmarktet just click on the Link of Website and the Beautiful interface will be shown as

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This image have taken From CoinCapMaret Source

On the Main Page there are many statistics given of different currencies.

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This image have taken From CoinCapMaret Source

Step 2

After reading all these stats just search the Desired token from search bar given on left side, in our case we will search about the token Steem.

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This image have taken From CoinCapMaret Source

After ther we will see the Details of Steem token all the information is given as

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This image have taken From CoinCapMaret Source

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This image have taken From CoinCapMaret Source

Steem Token StatisticsInfo- On CoinMarketCap
Rank#311
Market Cap$242,663,739
Steem Price to USD$$0.6158
Fully diluted cap$ 253,076,715
Volume in 24hrs$24,062,018
Volume / Marketcap0.09924
Circulating Supply$394,030,717.36

This Chart information taken From CoinCapMaret Source On 21 -11- 2021

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Question 6 : What are the different tokens do you earn by socializing in Steem Blockchain ?

From the SteemIt platfrom we earnd 3 types of direct tradable tokens and 1 is non trade able token as details are given below.

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1. Steem
2. Steem Power (Non Tradeable)
3. Tron(Trx)
4. SBD(Steem Dollar)

1. Steem

These are trade able token, which are directly converted from other Crypto currencies and USD directly from any of external Currency Exchanges like Binance etc.

These steems token may be transferred to Savings and we can withdraws them or we can transfer these tokens into Steem Power to increase the influence of our wallet.

2. Steem Power (Non Tradeable)

These are Influence tokens which give more control and power of voting and devoting on SteemIt platform, these are not trade able directly.

3. Tron(TRX)

This token connects all the Tron ecosystem and all decentralized tron wallets, this token can be sent to any other tron wallets for trade purpose, and can also be used in the transfer of steem from outer money exchanges and we can buy steem directly from Trons.

4. SBD(Steem Dollar)

These are also type of trading tokens which can be directly converted into other currencies by the external exchanges and we can also buy Steems token in the result of trade in SBD theses are the 25% of the total post Curation which also can be sent to other users also.

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Question 7 : How would you use your TRX earned in Steem Blockchain to optimize earning in Tron Ecosystem ?

There are multiple ways to earn thorough the TRX you can convert these token into Steem and other tokens like USDT AND BTC for future trade.

By staking through the Dapps, this is simple and easy way to make more money in Tron ecosystem.

And second method is to freezing the Trons in Tron Ecosystem by also using Dapps, by doing this you will get the freezing reward from the pool.

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Conclusion

This was about my homework task #02, which was related to STEEM & TRON . I came to know about many new concepts and about the working of Crypto Market, and about the Structure of Curation on SteemIt. I also came to know many other new things in this homework task which would be really helpful for me in the world of Crypto.

At the end I would like to thank, professor @sapwood for his precious time and effort for beginners like me.

I hope I would get some good remarks from professor on my effort.

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Note : All the Images that i have used have been citied and source have given with every image.

Cc :
Professor:
@sapwood
@awesononso
@nane15
@dilchamo

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Club 5050 Eligible

1 club.JPG

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Dear Prof @sapwood i have posted this Homework 4 Days Ago but still not get Curation kindly look into this.

cc:
@steemcurator01
@steemcurator02

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