Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain

🌟 Attention Steemians! 🌟 Check out my post in the Steemit Crypto Academy Contest, titled" Reward System on Steemit Blockchain." Delve into the fascinating world of Steemit's rewards and learn about the innovative ways users are incentivized. Do not miss out!

Does the attribution of rewards on steemit follow the same convergent linear reward curve since its creation or has it undergone some modifications? If yes, talk about the causes of this change?

Since its creation, the attribution of rewards on Steemit has experienced modifications to its reward distribution mechanism. Initially, Steemit used a coincident direct reward curve, where the rewards were distributed based on the popularity of posts. This meant that early contributors and popular content creators received advanced rewards, while latecomers and lower popular content received relatively lower rewards.

However, Steemit underwent a significant change in December 2016 with the introduction of a new reward distribution algorithm called the" Proof- of- Brain" algorithm. This algorithm aimed to address some of the issues with the direct reward curve by factoring in not only the popularity of the content but also the influence of the community in determining the distribution of rewards.

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Under the Proof- of- Brain algorithm, the rewards on Steemit are distributed based on the perceived quality of content, as determined by the votes and engagement received from the community. This means that content creators who consistently produce high- quality content that resonates with the community can earn advanced rewards, irrespective of their popularity or the timing of their contributions.

While Steemit initially followed a coincident direct reward curve, it later transitioned to the Proof- of- Brain algorithm, which considers both happy quality and community influence in the reward distribution process.

The change in the reward distribution mechanism on Steemit from a coincident direct curve to the Proof- of- Brain algorithm can be attributed to several factors.

Fairness and Quality Control

The direct reward curve had some limitations, as it primarily rewarded early adopters and popular content creators. This led to concerns about fairness and the possibility of satisfying low- quality or spammy content. The shift to the Proof- of- Brain algorithm aimed to address these concerns by placing a lesser emphasis on happy quality and community engagement.

Encouraging Long-Term Engagement

The direct reward curve incentivized users to be quick in posting and voting on content to maximize their rewards. This led to a competitive and potentially short-sighted behavior, with users focusing on immediate gains rather than sustained engagement. The Proof- of- Brain algorithm aimed to promote long- term participation by satisfying harmonious quality contributions over time.

Community Empowerment

Steemit recognized the importance of community involvement in determining the value and relevance of content. The Proof- of- Brain algorithm allowed the community to have a more significant impact on reward distribution by considering their votes and engagement. This shift empowered the users to actively shape the platform and encourage a more vibrant and participatory ecosystem.

Mitigating Gaming and Manipulation

The direct reward curve was susceptible to gaming and manipulation, similar as self- voting and vote trading. These practices undermined the integrity of the reward system. The Proof- of- Brain algorithm introduced fresh measures to discourage similar behaviors by considering the overall influence and reputation of users when determining rewards.

The change in the reward distribution mechanism on Steemit was driven by the desire to improve fairness, encourage quality content, foster long- term engagement, empower the community, and mitigate gaming and manipulation. The Proof- of- Brain algorithm was implemented to address these concerns and create a more sustainable and participatory reward system.

Show the added value that brought it this convergent linear reward curve, and how this system is applied on Steemit Blockchain.

The coincident direct reward curve on Steemit brought several added values to the platform. Firstly, it provided a simple and transparent reward distribution mechanism based on the popularity of content. This allowed users to easily understand how their contributions were being rewarded and incentivized them to create engaging content to attract further votes and advanced rewards.

The direct reward curve also favored early adopters and popular content creators, which helped in attracting and retaining active users during the early stages of Steemit's development. It created a sense of excitement and competition, as users raced to be among the first to discover and vote on trending content.

On the Steemit Blockchain, the coincident direct reward curve was implemented by allocating a portion of the diurnal pool of Steem tokens to award content creators and curators. The quantum of rewards received by each participant was determined by the number and value of votes they received relative to other contributors.

it's important to note that the coincident direct reward curve had its limitations, similar as implicit fairness issues and susceptibility to gaming and manipulation. As a result, Steemit transitioned to the Proof- of- Brain algorithm to address these concerns and provide a further nuanced and community- driven reward distribution system.

What is the difference between isolated curation and community curation? What type of curation do you prefer for quality content in Steem Blockchain?

Isolated curation and community curation represent different approaches to curating content on the Steem blockchain.

Isolated curation refers to individual users curating content based on their particular preferences and judgments. Each user independently assesses the quality and relevance of content and decides whether to vote and support it. Isolated curation allows for private opinions and different tastes to influence the content promotion process.

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On the other hand, community curation involves a collaborative decision- making process. Users collaborate and engage in discussions to evaluate happy quality and collectively determine which posts deserve recognition and rewards. Community curation frequently employs mechanisms like content curation guilds or initiatives, where participants pool their knowledge and expertise to identify high- quality content that aligns with the community's values.

The preference for isolated curation or community curation for quality content on the Steem blockchain depends on individual perspectives. Isolated curation allows for individual autonomy and particular preferences to shine, but it may result in a fragmented content promotion landscape. Community curation, on the other hand, promotes collaboration and consensus- building, potentially leading to further objective assessments of happy quality. Eventually, a combination of both approaches can be salutary to ensure a different range of content is recognized while maintaining quality standards.

Does the community curation have only a financial contribution or other benefits, if so which ones?

Community curation on the Steem blockchain offers benefits beyond just fiscal contributions. While fiscal rewards are a significant aspect of community curation, there are fresh advantages that participants can enjoy

Reputation and Recognition Engaging in community curation allows individuals to build their reputation and gain recognition within the Steem ecosystem. Active contributors who consistently curate high- quality content can establish themselves as trusted and influential members of the community.

Networking and Collaboration Community curation provides opportunities for networking and collaboration with suchlike- inclined individuals. By participating in discussions, sharing insights, and evaluating content together, curators can form connections, exchange knowledge, and foster a sense of camaraderie within the community.

Influence and Impact Community curation enables participants to have a say in shaping the content geography on the Steem blockchain. By collectively determining which posts deserve recognition and rewards, curators can contribute to promoting quality content, uplifting meritorious creators, and creating a positive environment for engagement and growth.

Discovering Hidden Gems Through community curation, curators can uncover retired gems and undiscovered talents. By actively exploring and assessing a different range of content, participants can bring attention to meritorious creators who might not have had significant exposure otherwise.

Community curation on the Steem blockchain offers not only fiscal contributions but also opportunities for reputation building, networking, collaboration, influence, impact, and the discovery of retired talent. It creates a dynamic and participatory ecosystem where curators can make meaningful contributions beyond financial rewards.

Conclusion

In conclusion, the Steemit blockchain has evolved its reward distribution mechanism from a coincident direct curve to the Proof- of- Brain algorithm. This transition aimed to improve fairness, encourage quality content, empower the community, and mitigate gaming. Community curation plays a vital role in promoting quality content, fostering engagement, and offering colorful benefits beyond fiscal contributions.

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