Crypto Academy Season 3 Beginners' course - Task 1: STEEM & TRON
(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?
(2) Explain the difference between [SP, STEEM, SBD] & [TRX, TRC10, TRC20 tokens](with examples)? Explore Coinmarketcap.com to indicate the rank, coinmarketcap, and circulating supply of STEEM and TRX? Which exchange are you familiar with where both STEEM and TRX are listed? Does it cost any fee for transacting STEEM and TRX? How important is the use of Memo while transferring STEEM from Steemitwallet to an Exchange wallet, do you essentially need a similar memo for transferring STEEM from Exchange wallet to your Steemit wallet?
(3) Difference between isolated judgment & Community judgment in Curation? What is the general voting window in Steem Blockchain? Please vote a post that is older than 7 days and tell us your experience, does it consume your VP, does it produce any monetary value? What is the difference between 50% SBD/50% SP payout and 100% power up? Suppose your VP is 90%, if you upvote with 100% voting weight, what will be the VP after voting?(Note-Before voting a post check the VP status in Steemworld.org, take a screenshot, and take another screenshot after voting)
PoB is an abbreviation of Proof of Brain. It is mostly used in the steem community. As the name implies, it is simply a proof that shows that you created something with your brain.it usually shows that you have a working brain.
Proof of Brain is used in the Steem Social blogging platform which is a prove that you created an immutable content and the steem community ensures that you are being monetized for the effort you put in the content. In Proof Of Brain there is no form of Plagiarism.
What is needed is your 100% wisdom couple to enough research. And there also a 65% of the total money which is called the reward pool for the eligible participant. What determines your reward is the Stake-weighted mechanism(SP). stake-weighted mechanism(SP) consist of types of reward.
The Upvote and the Downvote reward. If a steemit ( Participant) has more votes in respect to a content he posted in the steem community, the will lead to more reward. So in summary, Proof of Brain is combination of reward pool which is the 65% of the total amount of steem, the stake weighted mechanism which comprises of the downvote and the upvote reward and the creative wisdom of the steemit, that create amazing content from nothing.
Curation in Steem Blockchain is a process of selecting and organizing works done by the steemit. If a post is being curated, it really enhance the discovery of a very quality content easily.
Curation in Steem Blockchain is very important, to the platform. Most of the Times the Curators are being called the professor. For a post to be selected and organized, there are series of work to be done on the post and the works are being done by the curators. The starts from carefully going through a post, reading every word, sentence by sentence, also checking for grammatical errors with punctuation errors too, making sure that every English is correct in there right tenses.
After reading, you can check the authencity of the source of the content. You have to check if the participant just did copy and paste or there is a genuine proof of brain in the post. Also check if what is been written down truly will have impact in the live of the readers, if yes, you can push it further but if no you can add more things to it. Curation also mean to check for those who just copied another person's work from another site and just paste or even spam content is also being checked for.
To give the steem its own genuinely and specialty. Also Curation mean, to check how wonderful or destroying the contents will be to the steem blockchain. Curator also upvote , if they find out that content would very useful with their resources such the voting stake weight power and the voting power. The curator also resteem the content by sharing it with his follower. Curation simply mean the combination of all these above process, bringing them together is known as Curation.
- SP simply means Stake weighted Mechanism. Sp usually allow the participants to upvote (distribute) or downvote(redistribute) rewards from the reward. The more your votes the more your rewards which can simply puts in this way, that the Stake weighted mechanism is directly proportional to the amount you will have as reward, this is the first and most useful benefits of building Stake weighted mechanism (SP).
- Another fundamental importance of building a SP is that at the very long run it helps to grow the Steem community. Which is very vital for the steem platform too.
- It also makes the participants to become great influencers by their post in the crypto world, there by having large fan base. They might even make more money from there.
- Another important importance of holding Sp is that it allows Vested Toke Holders to take 15% as their reward from the total reward pool.
What is self-upvoting? This is simply a situation where the user upvotes it content, so that his/her reward will higher and thereby increasing his SP. And i have noticed that majority of the Steemit normally self upvote, for more reward.
As for me, Self-upvoting is totally bad and wrong at the same time. Because it allows us to curate or assess ourselves by ourselves. In such a situation, even if you are writing the wrong, you will definitely upvote yourself, in the case, the work Proof of Brain is dying and such works will have low authencity, though your reward might be high. It is very essential that our post should be analyzed by other people and not use, this might even make us have more fan base, if you are writing the correct things.
In summary, for me it is wrong, let improve our Proof of Brain (PoB) by allowing other people judge our works by themselves.
From Coinmarket.com The Rank, STEEM price and the Coinmarket of STEEM was duly found. Screenshot is below.
Steem Price: $0.6051
Market Rank: #184
Steem Market CAP: $233,935,534 (-14.35%)
By participating in the steem blockchain, you can earn by either curating, creating a post and also engage with other users. Other token that you earn from include
- TRX: After the partnership between the Steem inc and the Tron, on December 2020, you can now earn TRX with a ratio of 1 SP : 1 TRX for your being active in the steem blockchain. What this simply means is that, For every 1 SP ( upvotes) you get, you will get 1 Trx, which is a different Blockchain
- STEEM: The is a special token, it can be said to be the official token in the steem blockchain, You can use it to trade. Getting more steem on steemit can be achieved by engaging in community challenges or contests, most of the time the winner is been given steem
- Steem Backed Dollars: This is also another token you can earn from in the steem blockchain and it can be tradeable too, most of the times it is changed into our currencies.
- Steem power: Another token you can earn with is the steem power, steem power normally influence tokens by giving you the available access over past payout and it also gives you reward from curation. Steem power normally increases at an APR with approximately 3.78%, it is subjected to change due to blockchain fluctuation
In conclusion, Job Employment can not be a issue, if you know about Steemit, This platform has created emlpoyment for many well to do youth and also it has help youth to grow too by allowing to explore their creativity by writing. It will a pleasure for me to join the steemit community, because i will learn and contribute too. and also meet people of like minds there. Couple with the income that flows into my account, i feel blessed to be part of the wonderful community.
Cc @sapwood
Hello @ebiis I cannot correct your homework because it is not complying with the rules of the current fourth season of SteemitCryptoAcademy, please delete and resubmit your publication with the current rules that I will leave in the following link.