Tron Ecosystem - Steemit Crypto Academy Season 4 - Homework Post for Task 1

in hive-108451 •  3 years ago 

This is my homework submission for professor @nane15 for the beginners course task one which steem, tron and curation basically. Many thanks to prof for his inept knowledge and for a great tutorial.

Steemit Crypto Academy Beginners Course.png

Let me go on to the homework which i decided to the Part 1 or Question as stipulated in the homework.

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?


What is PoB


PoB also known as Proof of Brain is the system through which content is valued on the blockchain. With the steem blockchain running more or less as a social platform it is up to the users or the people to decide the good contents that deserves to be monitized.

And so when these content get valued by the users of the blockchain for is quality and goodness then we are basically seeing proof of brain at work.


My Understanding of Curation


Curation in other words upvoting is the process by which we distribute the reward pool by means of the voting and staked weight of the user. There is also the down vote option where posts that may be deem to not merit a part of the reward pool will be redistributed.

It is imperative that as a curator i take care to make sure i read the content well to ensure it is not plagiarized and deserves to be push to the higher point where it gets the necessary attention and support.

In curation or distribution of rewards to content creators within the first 5 minutes of a post there is a linear curve which is such that curation on the post gives a certain percentage back to the reward pool and a similar thing happens 6 days and 12 hours to post payout in 7 days. So the ideal time to support a post would be between these time frames.


Benefits of Building SP


Having a good SP means a better share of the curator reward from the content curators and curators share and a share in the SP Holders share. Building your SP means you are better able to support deserving content and also contribute the ecosystem of the blockchain.

Building your SP also means you get to contribute to the content discovery system. Building your SP also allows you to set the weight you would like to support a post since you get a slider after 500SP. There is also the tron distribution reward at the ratio of 1:1 which means the higher your SP the higher your curation reward and the more tron you earn


Self - Upvote


Self upvote is not a behaviour that any steemian should practice because it undermines what the ecosystem stands for. Again self voting means good content from authors that who may have less SP wouldn't get the necessary support that could push them to getting the necessary recognition within the community.


Explore Coinmarket Cap


For the time i spent on coinmarket cap i saw that steem was ranked at 188 with a market cap of $255,433,454 and a circulating supply of 391,263,619.93 STEEM. Steem had reached a high of $0.8001 at the high and a low of $0.5638. Please find below a screenshot from the site.

Screenshot (820).png


Tokens Earned by Socializing on the Blockchain


When you socialize on the steem blockchain through content creation and curations one is bound to earn tokens such as tron, steem and sbd. You may also earn other tokens that may be created by other communities on the steem blockchain such as steem-engine tokens etc.


Conclusion


Many thanks to Professor @nane15 for a great lecture and wonderful learning experience. I am hopeful of been able to continue to finish the rest of the beginner courses to set me up right for the bigger tasks ahead.

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Hello Prof @nane15, please i did the task previously and had to repost after i noticed i didn't use the right tags, couldn't edit because it had past the 7 days

here is the link to the old one

https://steemit.com/hive-108451/@elyon/cryptoacademy-beginners-course-task-1

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