Introduction
Hello everyone, it's Rasheed once again in this wonderful academy here to educate you all on what I've learnt about steem and tron. From my previous lesson, I was able to understand the concept of wallets, exchanges, Decentralized exchanges and centralized exchanges. Now without taking any more of your time, let's get right to it.
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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?
Proof of Brain (PoB) is a model constructed in such a way that the community (readers) are given the power to decide the value of a post. It values readers decision over the value of the content. It was created to reward content that was attractive to it's readers for the value it adds. The influence one has in the rewarding process varies on the amount of Steem Power (SP) they possess. Steem is locked and transformed into steem power. This steem power can be used to distribute (upvote) and re-distribute (downvote) rewards.
Everyday a fixed amount of new Steem tokens (65%) are sent to the reward pool. Half of the reward pool is shared between all the people who curated the post while the other half goes to the author of the post. If you are wondering what happened to the other 35% of the new tokens, they are shared between steem power holders, witnesses who power the blockchain and used to generate SBD.
What does curation mean to you in the steemit blockchain?
From what I've seen soo far, curation is the reward one receives from a post or even comment on the Steemit blockchain. A curator is someone who votes the post so when ever we vote a post we curate the post. Alot of people have a certain criteria for the post to meet before they curate it, especially those whose upvote has a reasonable value. Here are the criteria I set before I curate a post,
- The post must be plagiarism free and well sourced incase I want to research further
- The post must look attractive and well formatted with the appropriate markdowns
- The post must be interesting, educative or add value to my life.
What are the benefits of building SP?
As seen earlier in the article, building and accumulating a large amount of SP is really benefittial to both you and the posts you curate.
- Firstly, when you curate a post the amount of SP you have determines the amount of half the post payout that will return to you.
- It gives your vote power since votes are stake weighed so the higher the Steem Power, the more value the account holders' votes adds value.
Someone without SP would face the problem above of not being able to post, comment or upvote. You can even make delegations to support accounts. The more Steem power the more you get to enjoy the Steemit platform.
How do you explain self-upvote as a good or bad social behavior & why?
In as much as self voting can be considered selfish and bad by myself and many others because you take the vote you can share to others for yourself, you can't really blame them. Most attimes, the self vote can be as a result of the community curation trail for example myself. Almost all my self upvotes are as a result of the curation trail.
The Steemit platform is more like a social media platform but with compensation for posts so anyone would want people to show their post some love. If I post something and no one votes it during the 7 days, there is a tendency to show myself the love they didn't show to me by voting my own post. But attimes there are times when I'm surfing across the Steemit blockchain, I come across alot of people whose votes have value and find out that they vote themselves to add more value to the post no matter the amount of votes they have gotten already and this is wrong.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
As at the moment of the first screenshot, steem had risen by 11.96% in the past 24hrs and is currently at $0.727 which is about 334 naira in my local currency. It is ranked 181 on Coin market cap app and website.
A market capital of $281,820,512.13 and a total supply of 403.992 million
I personally believe that with the way the market is growing, $1 would be nothing but a stepping stone to steem.
What are the different tokens do you earn by socializing in Steem Blockchain?
From socializing on the steem blockchain we earn 4 cryptocurrencies namely Steem Dollars (SBD), Steem power (SP), Trx and Steem.
Steem Dollars
This cryptocurrency was originally created as a stable coin which was supposed to go hand in hand with the dollar. It's current value is $9.06. we get it either from contests or as reward for our content. Most steemians convert it to steem which they either power up or withdraw from their wallet.Steem power
As I said earlier in this lesson, steem power decides the voting power of a steemian. We get steem power from author rewards for our posts or when we convert steem to steem power. This is to me is the most important thing we get from socializing on the blockchain.Steem
This is the main cryptocurrency we mine on the Steemit platform.Trx
A cryptocurrency built on the tron blockchain. We get it as a reward for either contests or when we get rewarded for our content. We can also choose to link the trx to another wallet so as you gain any trx it would automatically be sent to the said wallet. I see trx like a side reward and I love the fact that we are being given this side reward.
Conclusion
Thanks to this lecture I was able to expand my knowledge to new horizons and I was also able to get a clearer picture of what a proof of Brain is. I also hope I was able to further explain to any reader who hasn't fully understood from the assignment post. I want to thank @sapwood for giving us this task. Thanks for reading.
