STEEM & TRON - Steemit Crypto Academy Season 4 - Homework Post for Task 2

Greet to everyone, I’m here again to deliver my knowledge on another assignment that was given by professor @sapwood in the the introductory courses task 2.

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(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? How would you use your TRX made in Steem Blockchain to optimize earning in the Tron ecosystem?

What is PoB?

PoB simply means Proof of Brain, and Proof-of-Brain is a consensus algorithm of blockchain networks that allows users to acquire rewards for their ability to create very good and useful content. So basically, it is a blockchain capability that enables users to gain rewards for their content creation on the blockchain.

With regards to the Steemit blockchain, which is a decentralized blockchain it gives its users an environment or platform to produce quality contents in order to gain rewards which may be in the form of voting with the use of the proof-of-brain principle.

With the Steemit blockchain, rewards are distributed to its users using the principle of proof-of-brain in the form of a reward pool. This reward pool comprises of the following; Authors and Curators 65%, Witnesses 10%, Vested SP 15%, and Steem DAO- 10%.

The property of the blockchain that represents proof-of-brain on the Steemit platform is the Steem power (SP).

What does curation mean to you in Steem Blockchain?

On the Steemit blockchain, the distribution of rewards to contents creators come in the form of curation. So in simple terms, curation is a way by which users gain rewards on their works from the Steemit blockchain.

The curation can be done by any user from the blockchain called “curator”. The higher your SP, the higher the curation and rewards. So what happens is that when a curator sees work which free of PLAGIARISM and quality content that expresses good information, the curation is done by upvoting the post.

After upvoting the post, when the payout of the post reaches, a portion of the rewards goes to the author of the post and other portion goes to the curator. For example, after my post has been graded above 5, I will get an upvote depending on the grade I get from the professor.

What are the benefits of building SP?

On the Steem platform building SP is one of the best acts or methods for which one can succeed in the blockchain. It is the most essential property that is required by all users on the platform. That is why the Steemit blog has come up with a campaign called #Club5050. And this is to help many of its users to engage in power ups, which is also known as building SP.

Below are some of the benefits of building SP:

The higher your SP, the higher your upvoting. This means that when your SP is high, you get a higher curation rewards from upvoting.
Also when you build your SP to a higher value, your account become recognized by many users on the platform and so, they will now like to vote and pay attention to your posts.
In addition, building a higher SP also helps builds the the communities and support to many users of the platform. At the end, the whole blockchain grows together.

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

Self-upvote simply means using one’s personal account to give an upvote on his/her own content.

This behavior in general is considered a bad behavior since it does not associate with the principle of Proof-of-brain. The main idea of PoB is to allow other users to browse through your work and see the quality of your post before upvoting, so when the user decides to do a self-upvote, it does not go well with the PoB principle.

Basically, I would like to conclude by saying that self-upvote is a bad behavior and it is not appreciated on the Steemit blockchain.

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

First visit the CoinMarketCap website to observe the market statistics of STEEM.

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From the screenshot above the following statistics can be developed:
STEEM price: $0.5869
MarketCap: $230,502,371
Rank: #306

So meaning, with the amount of cryptocurrencies/coins that are listed on CoinMarketCap, STEEM is currently listed at number 306 and it has a current market price of $0.5869, with MarketCap of $230,502,371.

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

After each post has payed out, users get a reward from the post if only the post has managed to secure at least $0.02 from the curation. And after the payout, rewards come in the form of Steem Dollars (SBD), Steem power (SP) and lastly Trons (TRX). Also, portion of rewards goes to the curators of the post known as curation rewards after upvoting. And the get SP and TRX as rewards.

It must be noted that, users can only get the native token of the Steemit blockchain which is STEEM by converting the SBD gained into STEEM or also power down the SP to get STEEM. 1 SP is equivalent to 1 STEEM. Another way users can gained STEEM is as a reward from joining contests that are organized on the platform. And when a user is declared a winner, there’s is usually prize rewards in STEEM offered to users.

Summary of the tokens

STEEM: The native token of the Steemit blockchain.
STEEM Backed Dollar/STEEM dollar( SBD): Rewards gotten from upvotes of posts that have reached payout period. It current values if worth about $7.
Steem Power (SP): In other words, it means the voting power of a user or stake-weighted mechanism. The more your SP the more upvoting you can perform and the higher your curation rewards.
Trons (TRX): Another reward gained after upvoting and the post pays out. It is earned in proportion with your SP.

How would you use your TRX made in Steem Blockchain to optimize earning in the Tron ecosystem?

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From the trons that I gain from Steemit platform, I mostly accumulate them to higher amount then I transfer them to my TronLink wallet which will be used for staking in order to get more profits from it.

Also, sometimes I convert the trons I earned from Steemit into STEEM so that I can build my SP by powering up. And this will help increase my upvoting on posts and also increase my curation rewards. Since SP is proportional to TRX in rewards, the higher trons I convert to power up, the more rewards I will get. This will help bring more profits to my account.

Conclusion

From this lecture I have learned a lot, from the rewards I get and how they can be used wisely. Also it should be noted that self-upvoting is not a good act and each user must try to desist from it.

Thank you for going through my work, I wish all the best.