SEC-S17/W5 | Whales in the Steem blockchain

Hello everyone how are you doing I am good,vtoday I am going to participate in another engagement challenge and I would like to explore it up to my best knowledge SEC-S17/W5 | Whales in the Steem blockchain.

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Who are considered whales on the Steem platform, and what are their responsibilities to the community?

I will simplify the definition that according to what I understand in simple words is that if a person is holding a specific amount of SP(steem power) he or she is whales.

And what are the advantages of holding a specific amount of SP i think a bundle of advantages the most important thing is voting the person who is holding a specific amount of SP maybe in other persons are also sharing the quality content but the person who have good amount of SP is preferred it means that his more active his more doing quality content his working more and quite active on the platform so he got more vote chances then the person who is holding less amount of SP.

If you holding us specific amount of SP you are considered for different community moderators and admins and different categories you have then you got different type of responsibility like you review content quality content rewards.

And you have I think more duties rather than just a person who is simple posting in the platform you got so many work to do like you have to just choose very quality content the content who is free from any copy paste material and bitbot use spammers.

Then apart from dolphin these have different kind of duties for example they have a specific amount of voting power and they also take part in platform promotion as well.

I always inspired and fascinated from a one person who is holding the huge amount of SP and I will dedicate and do more and more hard work to achieve such high as he and name I will mention.
@steemcurator01 who has SP in millions.

How do whales influence the value of cryptocurrencies and what role do they play in the functioning of the Steem blockchain?

Yes there are a lot of advantages for holding cryptocurrency for example the wale may sell whatever they are getting and in this way they may volatiles the market fluctuations and it also increases the demands of the coins in the cryptocurrency.

So most important thing is not just holding SP but why are talking about how they influence the value of frencies and in the functioning of blockchain so most important thing for them to select reward and distribute among the users who really deserve it and not just the person got the reward but also reward for the author and curator both increases.

And I was always wondering that whenever I participate any engagement challenge is so I need to engage as high as I can so I think the Whales are you doing the highest engaging because they are reviewing every post and then they are leaving a comment so this is the best part of the engagement what the Whales are doing.

The most difficult thing for them is to select the high quality content and then select them for reward so I think in this way this is also promotion of high quality content but most important is the content selection and this need more dedication more power more hard work then only you can become the whale.

What are the different phases that whales use in their activity on Steem and how does it affect other users?

So if we talk about the different phases and how it can be affected in the positive or negative aspect for the users.

The positive aspect or advantage for both the curator and author when they upvote means holding a specific amount of SP and they have the power and governance to give reward to author so in return they are also getting a good amount of reward so I think this is a very adventurous of holding good amount of SP.

When I was very new to this platform and I ask my mentor how to get good votdo more and more engagement on the post of the person who is holding more SP so in this way I think therefore is more getting comments and review in positive or negative aspect but they are more reviewed and whenever now I post any good content I tried to leave a comment on the post or on the user who is holding amount of amount of SP.

But I think there is negative aspect of these as well if the personal who having any personal grudge with anyone so instead of having quality content he might get neglected and not get upvote.

So for me I think the whale has a really good impact on the overall status of the steemit platform.

And most important thing is person is promoting quality content and because it is very important to choose the quality content and then promote and in this way not just only engagement on the platform is increased but also the quality content promotion also increases.

So a good friendly environment and dynamics on the platform is maintained.

What potential challenges might users face on Steem due to the presence of whales, and what strategies can they adopt to protect their investments?

For me in I will simplify the word whale into a king who is running system and I think this is a very difficult task to done because everything and every rule is followed by him and then he is maintaining the dynamics of the system.

The most important is not just choosing quality content but also fairness of the reward maintenance is also very important because sometimes the person may post a very high quality content but he is ignored or maybe some personal grudge due to which he or she is neglected and not getting a good amount of vote.

So we are just not talking about the good aspects of having well but also we should talk about the disadvantage or negative aspect of holding a good amount of SP.

Aur sometime the person is just doing quality content but not doing much engagement a person is comes under the unequal distribution of the reward and the person is neglected so I think the wale should more focus on not just the person who is very active but more doing engagement but also the person who are posting more quality content.

And as I mentioned whale is like a king as so maybe every person not get Whales upvote he or she need to work more hard and then only the person can get a vote from the whale as I worked a lot I dedicated my 3 years more than this to this platform form then I able to get more vote from whale.

Or sometime there is some favourite communities or favourite content or you can say in justice to content or the person is just promoting referenced a post or in this way I think this is a potential abuse that the person who is doing hard work and posting quality content but not getting votes.

I have seen many more examples if I can share that if we have an engagement challenge and the person might do the highest engagement but did not get the vote for whales.

So yes there are so many potential challenges that may be faced by whales sometime maybe in positive or negative way maybe.

How does the presence of whales impact ordinary user participation and engagement on Steem, and how can we encourage a greater diversity of voices and contributions?

So if we talk about ordinary user participation and engagement and how greater diversity of contributions can get.

So as I mentioned earlier high quality content selection no matter what kind of user or the person is doing engagement or not but he or she is hosting quality content so he might have chances of being centralised by whale.

Fairness of reward and along with that new commers can also witnessed by whale.

Initially I rememberd when I don't know that you got selected by so many things like high quality content then high engagement and stay active on the platform so I don't know about these things and whenever I post quality content so I may get discourage and that I am not being selected then I came to know all these things and even when I was new commers and I got chances of good upvote.

Its all about my today's post.

I would like to invite my friends @jannat12, @m-fdo and @subooho to take part in the challenge.