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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
INTRODUCTION
Steemit is a social blogging platform built on top of a Blockchain called STEEM, Steemit rewards its users with three different cryptocurrencies known as STEEM, SBD & TRON for creating quality and useful content that is free from plagiarism and curating contents. The contents payout which is known as reward which is determined by the stake weight mechanism (SP), vote weight and percentage of votes offered by the individuals that curated the post.
What is PoB?
PoB is is an abbreviation of Proof of Brain which is a mechanism which guides how the blockchain distribute reward from the reward pool to the content creators and curators, the content creator are the author of a post while the creators are those that upvote the post
In the reward pool , out of 100% of the reward pool, only 65% of reward pool can be distributed to the content creator and curators. The content creators share 50%/50% with the curator which is 32.5% for the content creator and 32.5% for the curators.
Every Steemit user have stake weight mechanism known as Steem Power (SP), the SP influences the distribution(upvote) and redistribution(downvote) of reward amongst author and curators, the higher the SP the more the power to influence the distribution and redistribution of reward. When a quality content is discovered the individual on his own discretion determines whether the content deserves reward or not depending on how good and useful the content appears. If the content is valuable and free from plagiarism/spam, you can support by curating the post, share your opinions over the author's idea in the post then resteem so that your followers can easily find the content.
The above idea outlined put together is known as Proof of Brain.
What does curation mean to you in Steem Blockchain?
Curation in Steemit is all about;
✒ discovering a content and reading it.
✒ checking out if the contents is useful to steemit blockchain, if it is useful, engage in the content.
✒check out if the content is original and free from plagiarism/spam, if plagiarized indicate in the content so that the community will know that such content is plagiarized.
✒ As a curator, on your own discretion, you determine whether the content is valuable and helpful to steemit blockchain, then if the content is valuable and helpful to the Steemit community, you upvote the content to whatever percentage you wish.
✒ share your opinion over the author's idea in the post or content. Resteem the post so that your followers can easily find it and benefit from it.
All these above put together is known as the Curation in Steemit. Curation helps to keep everyone connected, it is a part of the operational system of the Steemit blockchain community.
What are the benefits of building SP.
Steem Power(SP) offer so many benefits to steemit users, the following are benefits of the Steem Power in Steemit;
✒ INFLUENCE - the higher the Steem Power(SP), the higher the user becomes powerful in its voting weight, the higher the vote weight will appear in the post payout. Every vote weight from a curator is subjected to the curator's Steem Power.
✒ EARN MORE CURATION REWARD - The higher SP of a Steemit user, the higher the reward earned by the user, that is you earn more by upvoting good content since a curator normally receive part of the rewards when a post pays out in 7 days.
✒ EXTRA INCOME - holding Steem in Steemit (Powering Up) it gives you income that wouldn't have been received if you had left it in an exchange.
✒ DELEGATING STEEM TO OTHERS USERS OR COMMUNITY - after freezing Steem by powering up which turns to Steem Power, delegating this Steem Power means borrowing your Steem Power to other users or community. This is a way of supporting them in order for them to carry out specific functions in Steemit.
How do you explain self-upvote as a good or bad social behavior & why?
Self upvote is when a Steemit user creats a content (post) and the same user upvote the same content thereby becoming the content creator and at the same time the content curator.
Self upvote is a very bad social behaviour in Steemit because;
✒ In Steemit when a you creat a content, you becomes an author, others users are to discover the content and curate the content. It is left for the curators is to check out if the content is plagiarized, useful or not, thereby giving the right judgement to the content based on facts and their opinion. When a you self upvote your content, you have made your self a judge over your own matter by approving your content to be good by yourself which is against the Steemit governing Standard
✒ Self upvote is a way of draining the reward pool, other users are supposed to benefit as curators but in self upvote, the author benefit as an author and also benefit as a curator. This behaviour interferes with the growth of Steemit thereby rendering the objectives defeated.
✒Self upvote will discourage newbies joining Steemit as they would feel that since they have a very low SP, their voting weight would be insignificant and support from other Steemit users will be limited as other users would be selfish to upvote others.
✒ Finally, self upvoting is against the governing standard of the Steemit community as it limit the dream success of Steemit ecosystem. The Steemit governing standard is against self upvoting and it's users are suppose to adhere to the instruction.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
I was able to use screenshot gotten from coinmarketcap.com to indicate rank, STEEM price and coinmarketcap of STEEM.
the arrow in above picture indicates the Rank of STEEM in coinmarketcap.com
in the picture above, the arrow indicates the Price of STEEM in coinmarketcap.com
in the picture above, the arrow indicates the Coinmarketcap of STEEM in coinmarketcap.com
What are the different tokens do you earn by socializing in Steem Blockchain?
There are various tokens you can earn in socializing (posting and curating contents) the tokens are - STEEM, STEEM Dollar (SBD), SP & Tron
✒ STEEM - is the main token of the Steem Blockchain in which Steemit was built upon. You can earn Steel in Steemit by participating in contest in the various communities, winners are rewarded with Steem.
✒ STEEM DOLLAR (SBD) - This token is gotten when a curated post pays out, the reward may come in 50% SBD and 50% SP as chosen by the you. In Steemit 1SBD is equivalent to 1USD but outside Steemit, 1SBD price is more than 1USD. The SBD token can be converted to Steem in other crypto exchange.
As of the time of making this home work post, the price of SBD according to coinmarketcap.com is $7.59
✒ STEEM POWER (SP) - This token is gotten when a post pays out, 50% goes to the author, if the breakdown is the reward is 50% and SBD 50% SP, so the SP is one of the token that pays out. The SP is that token that gives you power and influence to upvote, downvote and performing specific functions like commenting and posting
✒ TRON - Tron is also one of the token earned in Steemit which in ratio of 1:1 with the numbers of SP pay out in every post. For example, If a post pays out 15 SP to its author, the user automatically gets 15 Tron paid directly to your wallet in that order.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
Tron earned in Steemit helps to play a vital role in Tron Ecosystem. As a Tron holder you have eligibility and opportunities do the following which optimize their earnings;
✒ Chose a mining pool in Sun.io where you can mine SUN token and also get reward.
✒Partake in governance - you can be a super representative with an application fee of 9.999TRX
by being elected through community voting. As one of the 27 candidates which are the super representatives that are responsible to secure and maintain and secure the network, you receive a block reward of 16 TRX.
✒Vote - you are eligible to participate in governance and choose your super representative where you vote a super representative and earn 2.66% APR.
CONCLUSION
Having knowledge on what PoB entails and having insight on how the Blockchain distribute and redistribute reward to its users by curating each other is paramount, so self upvoting is bad social behaviour which is a way of working against Steemit governing standard as most users indulge in this bad social behaviour as a result of ignorance or selfishness thereby not considering the effect on the Steemit ecosystem.
By partaking in Steemit, keeping to governing standard a user, you get rewarded with tokens known as STEEM, SBD, Tron. Holding Steem (powering up) in Steemit gives you influence to earn more and carry out specific functions, this is the same as holding Tron earned in Steemit optimize earnings in Tron Ecosystem where you can mine SUN token in sun.io, partaking in governance and voting for super-representatives to earn more reward.
Cc;
@sapwood
Apart from the screenshoted pictures with source, every other pictures are mine