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Hello everyone, how are you all doing?, I welcome you once again to the steemit engagement challenge, here we are in season 5 week 3, and I shall be joining the discussion: "Understanding The Steem Blockchain".

The steem blockchain is what we are all familiar with, but on this topic, we shall dive into more depth on how the blockchain works and as well its efficiency.

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Explain The following terms, STEEM, SBD, SP, and TRX

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STEEM - Steem is the native coin of the steem blockchain, the steem blockchain is a decentralized community chain built to support content creators by creating a platform where you can post and earn, the blockchain was founded by Ned Scott in 2016 and the Steem coin is used to support the users who post on the platform,

The Steem coin is used to support users on the social decentralized platform where 75% of its supply goes to content creators, and 10% to the witness of the nodes, while the remaining 15% is allocated to users with the Steem Power Holdings.

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STEEM Token Analysis

The Steem coin is currently at the price of $0.2344 with a 24hrs volume of $17,004,301.5, Steem coin is ranked #251 in the list of coins, with a Circulating Supply of 394,951,699 STEEM, and the Total supply of 409,190,981 STEEM. STEEM had its All-Time High on Jan 03, 2018, at the price of $8.57.

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SBD(Steem Dollars)

SBD is also a token on the Steem blockchain, but this is not an influence or a governance token, it is built mainly to support content creators on the platform, the SBD is built with respect to pegged to USD, which is why it's given the name Steem dollars, I,e it is pegged in ratio 1:1 to USD so as to support the inflation of STEEM coin, but due to large Inflation in SBD, its is currently trading at a higher price than the USD, as the STEEM DOLLAR is currently worth $2.40.

^{Image Screenshot From Coinmarketcap}

STEEM Dollars Tokenomics

The Steem dollar is currently at the price of $2.40 with a 24hrs volume of $1,934,351.59, Steem dollar is ranked #496 in the list of coins, with a Circulating Supply of 11,709,543 SBD, and the Total supply of 11,709,543 SBD which means the SBD is no longer printing which is caused due to the deflation and low capitalization in the SBD market. SBD had its All-Time High on May 17, 2017, at the price of $22.34.

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SP(STEEM POWER)

SP also known as STEEM POWER is the equivalent amount of steem a user-owned in their Steemit Wallet, this is the coin used in supporting users on the platform, it is mostly regarded as an influential power on the steemit platform, as the higher the user STEEM POWER is, the higher the chance of their influence on the platform.

Steem Power is an Influence token that gives users control over payouts and allows users to earn from curation rewards, With respect to this, you get to earn more as your influence power increases, and as well, there is a 2.96% APY on Steem Power returns annually.

The STEEM Power is displayed in Users wallet, and can as well be delegated to support users on the platform so as to increase their curation reward.

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TRX

TRX also known as Tron is the native coin of the Tron blockchain, the Tron blockchain was as well built to support content creators, the Tron blockchain is one of the largest blockchains in the crypto realm due to its unique quality and low transaction fee, the Tron blockchain came into light in 2017 and was founded by Justin Sun.

Tron was incorporated into steemit in 2020 when the Founder Justin Sun purchase the Steemit platform with the idea of supporting the platform with TRX influence as well, and ever since then, users have been rewarded an equivalent amount of SP cash out with respect to TRX in the ratio 1SP: 1TRX, and as well, TRX is earned on curation payout.

^{Image Screenshot From Coinmarketcap}

TRON Token Analysis

The Tron coin is currently at the price of $0.06277 with a 24hrs volume of $365,906,462.34, TRX is currently ranked #14 in the list of coins, with a Circulating Supply of 92,279,235,660 TRX, and the Total supply of 92,279,264,753 TRX. TRX had its All-Time High on Jan 05, 2018, at the price of $0.3004.

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Explain The Benefits Of Building Ones SP in Steem Blockchain

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Supporting Users - Building Ones SP has a lot of Advantages on the Steemit Platform as well as its blockchain, I had said earlier that Steem Power is used as an Influence power on the Steemit platform, whereby it is used to support other users by upvoting article, and earning on post payouts.

Earn Curation Rewards - Steem blockchain algorithms are built in a way that it also rewards its stakeholders, i.e in a way of rewarding users who have been holding STEEM and earn 2.9% APY for having the Steem Power in their wallets, and by building Ones SP, You have more chance of earning curation rewards, the more the power of your Influence I,e Your Steem Power, and the more the returns you get by upvoting others. I mostly used the phrase "The Rich Keep Getting Richer".

Stabilize STEEM coin supply - This as well helps in balancing the Price of Steem coins, in the sense that when SPs are built by most users, this means there will be a lesser supply of steem coin and more steem power accumulated on the steemit platform rather than selling them out, and when the supply is low, there gets to be inflation in the price of steem, as we have witnessed in the recent days that despite the huge sells on crypto coins since the past few months, the steem coin price has been stable, and this is due to the idea of more users holding and supporting each other rather than selling out.

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Explain The Meaning Of Curation in steem Blockchain and also explain if self-voting is a good or bad practice on the steem Blockchain

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Curation simply means upvoting, and this is likely term as supporting or liking, the idea of the steem blockchain is to build a platform for supporting users who create unique content on the platform, and the curation is done in a way that a users article is checked for plagiarism, check for the exclusivity on the user's post, which afterward they get curated.

Steem is one of the first decentralized social media aims in supporting content creators worldwide by supporting users who participate in Proof Of brains, and which this happens when users create unique content on the platform, they get supported in return so as to reward them for the job well done.

Self-Upvoting

Self-upvoting is more of a crime, and this brings a bad reputation to the platform, self upvoting is like supporting yourself for a job you did, without it being scrutinized for legitimacy or how unique your content is.

Curation works in a way that your content is scrutinized based on the job you did, and thus is done fairly without any bias, a self-upvote simply means you are being the judge of your own character which is a terrible practice itself.

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Explain what you understand by the voting window In steem Blockchain. Vote for two posts( one that is older than 7-days and one that is less than 7-days ) and explain to us what happened between the two posts. Does all the two voted post produce monetary value and do they consume your voting manna? Before carrying out this task please go to steemworld and screenshot your present voting manna

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For this task, we are being required to carry two tasks, I,e vote on a post that is pending payout and as well vote on a post that is a past payout, then I should explain the significant difference of this in my voting mana.

The voting window refers to the period of time it took for a vote to be valid on a post, the voting window is 7 days which is equivalent to the time a user makes a post, after this time elapsed, whatever vote on the article no longer count, the steem blockchain algorithm is built in a way that the voting reward goes 50% to the author and the remaining 50% to the curators, the authors and creators both shared the same voting windows as well, which is 7 days.

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Voting A Post (Before payout)

Now, with reference to the question, I shall vote on an active article with 100% of my curation. prior to the vote, I was having 95% in my voting Mana.

The post payout was previously $17.37, then after I vote for the post, the payout increased to $17.42, which means my 100% voting influence on the post is $0.05.

^{Image Screenshot From steemworld}

After voting for the post 100%, my voting mana reduces from 95.7% to 94.09% . Now, let us take a look at what happened when I vote for a post that is a past payout.

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Voting A Post (Past payout)

Now, I did the same case for a post that is 8 days expired, which means it has exceeded the voting windows, when I clicked to upvote, nothing happened to the post neither did it add anything to the post's worth.

Then checking steemworld, I noticed that this doesn't have any effect on my voting mana as well, as it rather increases by a few fractions, thou I did suspect that this only increased based on the recharging and not the voting.

^{Image Screenshot From steemworld}

My observation from the task is that when I vote for a user's active post 100%, my voting mana reduces by 2%, and when I vote for an expired post, no difference is applied to my voting mana.

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Advantages and disadvantages of STEEM Blockchain

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The Steem Blockchain is one of the best blockchains out there, being the first of its kind, it has been a blockchain that provides support for earning to individuals worldwide, and it has a great uniqueness of giving earnings to its stakeholders as well.

Advantages Of Steem Blockchain

• Steem blockchain support users who create unique content.

• Steem Blockchain help users to build their SP so as to give them enough influencing power to as well earn by curating other users.

• Steem Blockchain has an outstanding algorithm for stabilizing its assets, as the Steem blockchain allows the reduction of SBD when the Steem market is in a low volume, this is done to reduce the supply of steem and stabilize its native token.

• Steem blockchain gives the ability for the rich to get richer by supporting other users, the more SP you accumulate, the more you earn by curating as well, as the platform gives a 50% reward to curators as well.

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Disadvantages Of steem Blockahin

• Not for Small Investors- The steem Blockchain idea of investment is not for small earners, to have a real influence power on the platform, you need to own at least a million Steem Power, as the Lower curation is mostly insignificant when it comes to upvoting.

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Conclsusion

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Here comes my conclusion on the topic "Understanding the Steem Blockchain", the blockchain been one of the first decentralized social media has brought a lot of influence to web content creators as the blockchain came with the idea of supporting users' qualities and voting based on the uniqueness of their post.

The blockchain has incorporated several tokens with the aim of supporting users which are Steem, SBD, and Trx, all these are incorporated on a post payout for users so as to earn a reward for making a post on the platform, the blockchain also aims in supporting investors who participated in stakeholders as there is a 2.9% annual return on steem holding which is by far a great idea any blockchain has passed.

Thank you for reading through, I hope to see a great deal of you next time.