Hello fellow steemians Happy New year to all, I hope it was well spent for all.
It is with great delight that I present to you all my Homework 2 based on Steem and Tron
by @sapwood and I'm going to be answering his question one among the 3 choices listed in the beginner's courses .
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?
And again I'll be answering it in steps as such:
WHAT IS PoB ?
PoB stands for Proof-of-Brain, it is the general word that comprises The reward pool, The stake-weighted mechanism (SP) and The wisdom of the people in the steemit community.
The reward pool, is the fixed flow of the steem currency in the steemit blockchain awarded to the following beneficiaries in the following percentages:
- The Curators and authors rewards get- 65%.
- The witnesses get- 10%.
- The vested Steem power(SP) holders -15%(The more the SP,the more the reward).
- Steem Proposal system- 10%
The stake-weighted mechanism
It is what allows users to distribute and redistribute steem tokens in the blockchain when they carry out upvoting and down voting of contents.
The wisdom of the content creators involves their input of ideas and creative posts into the platform .
WHAT DOES CURATION MEAN TO YOU IN THE STEEM BLOCKCHAIN ?
In the steem blockchain,curation works in this manner;
- A member reads a post.
- Disseminate it, understands it.
- Determines whether it is beneficial to him or her.
- Decides to upvote or downvote it that's putting his or her Stake-weighted mechanism in use.
- Decides to resteem such content.
Curation in summary is when a steem member after studying an author's content upvotes or downvotes that content based on his or her ability to , that is the Steem Power. This action creates a relationship between the Author, Curator and Followers.
The person doing the upvote or downvote and all the above mentioned actions on a steem blockchain content post is known as a curator.
WHAT ARE THE BENEFITS OF BUILDING SP ?
SP is known as Steem Power, this the stake-weighted mechanism of a steem account in the blockchain.
This gives power to the steem user to do upvotes or downvotes on other users accounts and such votes gives monetary value or decreases the monetary value of a content depending on the Steem Power a curator bears.
Therefore building SP gives you as a curator and author in the steem blockchain a greater reward in the reward pool of the blockchain.
HOW DO YOU EXPLAIN SELF-UPVOTE AS A GOOD OR BAD SOCIAL BEHAVIOR AND WHY ?
To begin with, in the convergent linear reward, the lower input vote(SP) results in a lower reward and the higher input votes (SP) results in a higher reward.
When a content is curated randomly, the judgement is seen to be isolated and the rewards will be low, but voting as a community, this sums the input votes (SP) and makes the rewards increases greatly.
Self-upvote is a bad social behavior in the steem community because, this makes the upvotes post isolated in their content quality judgement and so makes the content have very low curation rewards.
Explore coinmarketcap.com to indicate rank, steem and coinmarketcap of steem(screenshot required)
To explore coinmarketcap.com , I go to my web browser, I typed coinmarketcap.com and it took me to this page where other crypto tokens are being displayed alongside their present prices.👇
I clicked on the search icon on the the web page, to search for the STEEM token and it displayed the following. 👇
According to this display, the picture above indicates the rank of STEEM and STEEM DOLLARS is #331 and #582.
And the coinmarketcap and price of steem is indicated below👇
What are the different tokens earned by socializing in Steem blockchain ?
The tokens earned by socializing on the Steem blockchain are SBD, STEEM,and TRON tokens.
The SBD token is worth $4.94
The STEEM token is worth $0.3907
and the Tron tokens are worth $0.06853 in the crypto wallet.
How would you use your TRX tokens earned in the steem blockchain to optimize mining in the Tron Ecosystem ?
To optimize Tron mining in the Tron Ecosystem using the TRX tokens earned in the steem blockchain,the TRX tokens are staked on other DeFi Apps. I use the Sun.io app and I use the following procedure:
- First I tap on the Tronlink app link in my steemit wallet.
- I download the app and create an account.
Then I find the account with TRX
I click on discover.
Select on the sun icon,this will take you to this page👇
Click on the top right hand icon.
Click on stake
Stake the amount you want to
@sapwood
@awesononso