STEEM and TRON - Steemit Crypto Academy Season 4 - Homework Post for Task 2 Beginners Course by @kingmyke

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Hello Everyone.
Today I will be answering the questions asked by Professor @sapwood below

(1) 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?

WHAT IS PoB?

source

PoB is short for Proof of Brain. It is a consesus mechanism (like Proof Of Work, Proof of Authority, etc) but it is the consensus mechanism used on the Steemit Blockchain. A consensus mechanism is an agreement arrived at by the participants of a blockchain for how to make decisions on the blockchain It is a general agreement.

Therefore, Proof Of Brain is a consensus mechanism used by the steemit blockchain to offer rewards to individual based on the creative work and content they have produced "from their brains", hence the name Proof Of Brain.

In this mechanism, rewards are distributed or given to the content creators based on the Steem Power (SP for short) or the influence of the curators and also based on the general understanding and differentiation of what is a good content and a bad content by the people on the blockchain.

The nature of Steemit is such that it is in the format of a social media blockchain so participants in this blockchain can either upvote or downvote the contents of other participants based on what they know or understand to be either a good content or bad content. Participants upvote (thereby distributing rewards) contents that they understand to be good and useful content and they downvote content they understand as bad content.

WHAT DOES CURATION MEAN TO YOU IN STEEMIT BLCOKCHAIN?

Curation is simply the evaluation of a post by a curator to check the usefulness or uselessness of a post to the entire community.

There are a list of things that must happen before curation has been said to have taken place. Below are the 6 things that should occur before a post is said to have been curated.

1. The post made by the content creator has to be read by the curator.
2. The curator assess the level of engagement of the post to determine whether or not to drop a comment.
3. The curator then check through the post for any form of plagiarism. If any form of plagiarism is found, the curator alerts the community in order for the appropriate consequences to be carried out on the plagiarized post and its creator.
4. The curator evaluates how useful/relevant or useless/irrelevant the post is to the community and to him/herself.
5. If the curator's evaluation of the post shows that it is useful, he upvotes the post with him/her SP or voting power.
6. The curator may or may not resteem the post so that it can be seen by others.

From the above we can see what it means for a post to be curated. The curator must first read the post. Then he evaluates the level of engagement of the post to see if it is worthy enough of a comment. The curator then goes on to search for spams or incidences of plagiarism in the post and then alerts (if any is seen) so that appropriate actions be taken on the post and its creator. The curator then evaluates the relevance or irrelevance of the post after which, if relevant and useful, he/she upvotes the post and may or may not resteem the post for public viewing.

WHAT AR THE BENEFITS OF BUILDING SP?

This is one of the major questions asked by so many newbies on the Steemit blockchain. They all ask this typical question of why bother building SP instead of does liquidating your tokens into tangible cash equivalents. They ask, why bother holding and building your SP?

In order to really show why it is important to build your SP, I will use the below table of two people, one who has 40 SP and one who has 4000SP to show why it is good to be building your SP.

Mr A with 40SP	Mr B with 4000SP
He stands to win a very small portion of rewards when curation rewards are given out	He stands to win a larger portion of rewards when curation rewards are given out than the person with 40SP
This person will not b able to qualify for some activities and competitions, eg SteemitCryptoAcademy as most competition will require a certain amount of SP	This person can qualify for a lot of competitions and soccial activities
Because this person cannot qualify for a lot of competitions and activities, he cannot be able to earn more curation rewards	He can earn more curation rewards and make more money because he can get involved in a lot of competitions and social activities
Rewards in TRX form his posts will be smaller	Rewards in TRX form his posts will be larger.
This user is unlikely to have many fans in the blockchain	This user is likely to have many fans and followers in the blockchain

From the above, you see why it is good to keep growing your SP. The more SP you have, the more opportunities you have in Steemit to enough make more money and earn more Steem tokens. It is like a positive feedback mechanism.

HOW DO YOU EXPLAIN SELF VOTE AS A GOOD AND BAD BEHAVIOR AND WHY?

When a participant on the steemit blockchain (a steemit user) upvotes his own post, his voting power, which is used to make votes on the posts of other people on steemit reduces. Also, his voting mana will reduce causing him incapable of voting on the post of other people on Steemit. As you can see, all of these makes his contribution to the steemit users and the steemit community lower, hence this is why self voting is often frowned at in steemit.

However, self voting does have its benefits as well. When a steemit user upvotes his post, he earns rewards based on his voting power on that post.

EXPLORE coinmarketcap.com TO INDICATE RANK, STEEM PRICE AND COINMARKET CAP OF STEEM (SCREENSHOT REQUIRED)?

Step 1:

Log on to www.coinmarketcap.com and click on the search bar

Step 2:

On the search bar, search for "STEEM"

Step 3:

This will display the page below. 1 shows the rank, 2 shows the current STEEM price and 3 shows the market cap.

All the above screenshots were taken from www.marketcap.com

WHAT ARE THE DIFFERENT TOKENS YOU EARN BY SOCIALIZING IN THE STEEMIT BLOCKCHAIN?

For socializing on the steemit blockchain, you will earn the folowing tokens: Steem, SBD (Steem Based Dollars), TRX (Tron) and Steem Power (SP).

Below is a breakdown of the various ways we earn all the above mentioned tokens.

Steem and SP:

Steem is earned by participating in a variety of contest organized by different communities. Also, you can earn steem by engaging in assignment tasks organized by communities. You can also trade your SBD in return for Steem. SP can be gotten from contest direct. You can also power up the steem gotten from contests to Steem Power (SP).

TRX (Tron):

We earn Tron in a similar manner in which we earns steem and SP. Some competitions pay out in Tron. Tron is earned in the ratio of 1SP:1TRX.

Steem Based Dollars (SBD):

Some competitions pay out in SBD. Also, when we claim our curation rewards that come with Steem Power, we earn some SBD. This SBD can be used to acquire Steem.

HOW WOULD YOU USE THE TRON EARNED IN STEEM BLOCKCHIAN TO OPTIMISE EARNING IN THE TRON ECOSYSTEM?

There are a lot of uses of Tron in the Steemit blockchain when we earn rewards in Tron. Lt us look at a few below:

1. A steemit user can trade his TRX for Sun using the Justswap platform. When this is done, the user gains what is calledd mining rights in Sun.io. A great thing is that SUN-TRX LP offers a very wonderful APY (Annual Percentage Yield) of 73.2%.

2. On Justswap, a steemit user can decide to trade his TRX for a token within the same family.

3. A steemit user can add his TRX to the pool in Justlend, a dApp. This allows the user to earn interest at a rate dependent on the supply APY. He is also given jtokens. These jtokens can then be sued to serve as collateral so that the user can be capable of borrowing another asset available in the pool in Justlend.

4. When you are a holder of TRX, you have the rights to vote the 27 Super Representatives. Besides being able to vote the 27 Super Representatives, with a minimum of 9999TRX, the holder becomes a candidate for the Super Representatives.

CONCLUSION

This assignment has given me the opportunity to learn even more about the Tron and Steemit blockchain I have learnt more about the needs to keep building your SP, the dangers and benefits of self-voting, the various uses of Tron earned and the various ways of earning TRX, SP, SBD and Steem.

Thank you Professor @sapwood.
Thank you all and I believe you find this post informative