Steemit Crypto Academy | Summary for Season 3 Week 6 | Satoshi Nakamoto, Wei Dai and Crypto Units of Measurement

Another successful week has come to an end in the Academy. The 6th week of the 3rd season ran from the 2nd of August to the 7th of August.

For the week, we talked about important figures in crypto and their impacts. Then we discovered units of measurements in cryptocurrencies as we took some simple calculations. The class was divided into the following sub topics:

• Who is Satoshi Nakamoto?
• Claims/Theories of Nakamoto’s identity.
• Satoshi as a unit of measurement for Bitcoin.
• Who is Wei Dai?
• Wei as a unit of measurement for Ether.
• Calculations in satoshi and Gwei.
• Steem Smallest Unit.
• Other units.

Statistics

The week had a good turnout. There were a total of 127 tasks graded under the tag #awesononso-s3week6. I will give the distribution below.

Reference

• Plagiarized is for posts with spun content.
• Below average is for scores below 5.
• Average is for scores within 5 and 5.9.
• Good is for scores within 6, 7 and 8.
• Excellent is for scores within 9 and 10.
• Invalid is for posts from users who do not qualify to perform the tasks.

Rating	Excellent	Good	Average	Below Average	Invalid Entries	Plagiarised contents
Frequency	19	77	9	11	6	5

Mean - 6.28

Correction

The Calculations
There were some errors on the decimal places and number of significant figures on the calculations. The instructions was to give the answer to 3 significant figures. Significant figures are counted from the first non-zero digit that comes in any decimal. This includes any zero that comes after.

It’s important to be careful when dealing with so many zeros. A single misplacement would render the answer wrong.

Let’s take the following for the correction:

Solution
Calculating the satoshi value for this;
1 satoshi = 1/100000000 x 1 BTC
1 BTC = $43,691.84
∴ 1 satoshi = 1/100000000 x 43,691.84
1 satoshi = $0.0004369184

Since 9 is more than 5, we round it up
∴ 1 satoshi = $0.000437 (to 3 sf)

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Solution
Calculating the gwei value for this;
1 Gwei = 1/1000000000 x 1 Ether
1 Ether = $2,940.66
∴ 1 Gwei = 1/1000000000 x 2,940.66
1 Gwei = $0.00000294066

Since 0 is less than 5, we round it down
∴1 Gwei = $0.00000294 (to 3 sf)

It’s important that you also don’t forget the unit. As you can see, I have placed the unit which is the Dollar($).

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Steem Smallest Value
Under this, the students were asked to make transfers of 0.001 Steem and 0.0001 Steem and state their observations.

The following screenshots are from my example in the lesson;

It was observed that the transfer of 0.001 Steem was successful but that of 0.0001 Steem was not. Considering the topic, the simple reason for this is that coins on the Steem blockchain are not divisible by more than 3 decimal places.

Observations and Suggestions

Creativity: There was a good amount of improvement on creativity this week. The students were able to express their understanding of the topic their own way. Great job guys!

Research, Expression and Originality: Despite the fact that there were good creativity levels, there were also bad expression levels in some cases. It is understandable that research has to be done in a topic like this but it is advisable not to paraphrase sources so as to not be called out for content spinning. This is where the creativity factor plays a role.

Compliance and following instructions: In some cases, some instructions were not properly adhered to. For example, some students did not transfer the Steem needed to complete the assignment. It’s important for the students to always abide to every instruction no matter how small. The ability to follow instructions makes a big difference in the work.

Top 3 Students

This week was a good one. There were a lot of improvements and a lot of good posts. Considering all the factors, the top 3 have been chosen out of all the 127 tasks submitted.

The top 3 for the week are;

User	Task Link
@reddileep	Link
@sir-lionel	Link
@abdulkahargunu	Link

Congratulations to everyone that participated in the 6th week. I will see you all next time.

Thank you.