Steemit Crypto Academy Contest / S5W3 - Understanding The Steem Blockchain

in hive-108451 •  2 years ago  (edited)

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STEEMIT

I could write about this place for hours. And it probably will be right now. An hour or more will do. Why don't I set the stopwatch? No, no, no, no. All right, here we go.

What is Steem?


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Steem is the "main" token of this platform. You can send it anywhere, anytime. For example, to the stock exchange or to another user. You can convert Steem to Steem Power. You can also buy Steem Dollars and vice versa.
You get STEEM tokens as a reward for your written content.

What is Steem Dollar (SBD)?


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SBD as well as Steem can be sent at any time. The Steem Dollar was supposed to be a Stable coin, but its price is volatile. You can exchange SBD for Steem and vice versa.

Steem Power (SP)


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Steem powers are Steem tokens that are in the "stake". The more Steem Power you have, the greater the value of your voice. To power up Steem Power, simply click on the Steem tokens in your wallet and select "Power Up".
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Steem Power may be delegated to other users. Delegation is "lending" your tokens to another user for a certain period of time.

To delegate Steem Power you need to use STEEM KEYCHAIN or a web page Steemworld.org.

Personally, I recommend collecting Steem Power. Not only do we have a stronger voice, but we also help other users when we vote on their content.
When we collect Steem Power we also have a better chance of upvotes from official Steemit curators and more. It can be said that Steem Power here is a kind of" respect " in real life. Explained in your own words, but I think you'll understand what I mean.

Tron (TRX)


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You also get TRX tokens as a reward for writing content.
You can also send them at any time.

How does voting work?



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There are curators and authors on Steemit. When you write a post, you see who voted for your post. Those who vote for the content are called curators. When you vote for someone's post, you can say that you are a curator.

You can also vote for yourself. But it is not recommended. When you vote for another user, 50% of the value of your vote goes back to you. When other users see that you vote for them, they can also return the favor by voting. So why vote for yourself when helping others also has a lot of benefits?

Steemworld.org and SteemKeychain

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On Steemworld or SteemKeychain, it says what % of Steem Power you have at any given time. When you vote for a post, then your "mana" runs out. Mana is that percentage. You have 7 days from the date of publication of the post by the user to vote. After 7 days, all the money earned by the post is paid out and you can no longer vote for this post.


EXAMPLE:



I voted for the post. I used 100% Power (the more the bigger the voice) and already my mana dropped.

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As you can see above, I had 74%, and now I have 72%.

When we vote for a post that's already been paid. So the fast is more than 7 days, then nothing will happen and our mana will be intact.

Advantages and disadvantages of Steemit.


Advantages

  • great community
  • mechanism of working of this website
  • you can combine passion with money
  • you meet a lot of great people.
  • by reading user posts you learn a lot (there are people from all over the world)
  • helping others by voting
  • self-development by writing content
  • free speech
  • the community decides your post, not the administration


Disadvantages

  • few DApps apps
  • few people know about the platform.


I invite:
@brwhale
@badmus-official
@sarkodieeric1

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Hey friend,

You tried your best man and I am happy with that just that the professors would lo to see much more quantity on your post because it improves the quality and value of the post of the author but as I have said earlier you are a great author please keep Creating contents on Steemit.

Thank you!

I really appreciate your invite, but I have post understanding about steemit blockchain. I really love your post the way you have arranged your pictures and the way you have explain things. Thanks for sharing with us Sir.

No problem. Thank you

Generally, you have written well my friend, and am impressed with some of your points, especially the many advantages of the steem blockchain which you have mentioned. I love the part where "you can combine passion with money" really true.

Thanks for sharing friend, and goodluck in this contest.

I will appreciate if you equally engage on Mine

Of course. Thank you!

Hey friend,

I see the effort you have put into this work and I must say, I am happy with just that, the instructors would want to see much more quantity but in this case, is to give what you understand about the Steem Blockchain, which you have done just that.

In all good luck in the contest.

Next time I will try better! Thank you!

Your post has been supported by @JYOTI-THELIGHT from team 2 of the Community Curation Program. We invite you to continue sharing quality content on the platform, and continue to enjoy support, and also a likely spot in our weekly top 7.

Voting date: 02.11.2022

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thank you