(Designed by me on pixelab)
Hello dear steemians, a privilege to come before you all to present my homework task 1 mentored by @sapwood in which I'll be answering to 6 questions.
What is PoB?
POB simply means Proof of Brain. But beyond abbreviation, this word has much more meaning and to my understanding based on explanations from professor @sapwood, I brought out the definition below:
PoB is creating a quality content post be it by writing or drawing in a way such that the reader is attracted and educated by the post.
PoB is actually a combination of many components which are; Reward pool, Steem power (influence), weighted mechanism and personal knowledge determining the good or bad quality of a post.
Reward pool: This is where the newly minted tokens are distributed after being accumulated in the steem blockchain pool. Through this pool, users can distribute or redistribute rewards based on their influence (SP) on the platform. This enables each use to judge content quality by him or herself.
What does curation mean to you in Steem Blockchain?
Curation means several things to me as a whole and I understood that it means the following activities altogether ;
- Reading a post
- Checking on the originality (plagiarism and markdowns)
- Does the post add value? If yes, engage by commenting to better reshape it.
- If doesn't, point out the post to the concerned community representatives or admins
- You vote or downvote the post based on your analysis.
- Resteem the post for your followers to also curate.
What are the benefits of building SP?
Steem Power (SP) is the influence of a user in the steemit platform. The higher it is, the greater your influence and it has the following benefits:
- Benefits from the reward pool: the more SP you have, the more access you have to the resources of reward pool. For example, a person with 15SP has little or no influence on a content when he upvotes as compared to a user with 1000SP.
- Eligibility to participate in the crypto-academy courses: if a user has a SP lower than 125, he can't participate in the Beginner's course as I do now.
- Community building: I come from Cameroon and we have a community which is still growing, for this reason we rely only on steemcurators for upvotes. So building SP helps a steemian to upvote and help grow a community.
- Reputation (influence): When you build SP you obviously will have followers who will try to make anything to make you upvote their posts so that they too build theirs. I am a newbie and I followed everyone who had a high SP so that I could learn and also gain some upvotes from them.
How do you explain self-upvote as a good or bad social behavior & why?
Self upvote in my opinion is a bad social behaviour because just from the words "social and Community", it entails that other people are involved in a particular task or activity. Just as a student in an examination hall, if that student is given the opportunity to mark his own script, the student will automatically grant himself an undeserved A grade even if the answers he gave was wrong. So upvoting your own post will show a bias on the reward pool distribution because resources which were to be used on other posts are being used on on your own post only. This activity affects the community negatively.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
To get into this page, i opened my browser (chrome) and typed coinmarketcap.com and hit the search button. And this page appeared then I hit the search button on the site and typed in "steem"
After typing and clicking on the steem coin logo another page opened and there I saw all the information necessary on the Steem coin.
On the screenshot above taken on the 16th of August 2021, the values of steel were as follows:
| Characteristic | value |
|---|---|
| Price of coin (yellow) | $0.589 |
| Market cap (red) | $227,358,347 |
| Circulating supply (green) | 386,175,301.30 steem |
| Rank | 179 |
That is all about the coinmarketcap app.
What are the different tokens do you earn by socializing in Steem Blockchain?
There are 3 tokens earned on the steemit blockchain, which are STEEM, Steem Blockchain dollar and Steem Power.
These rewards are influenced by the debt ratio which is defined as the ratio of SBD market cap to steem market cap source
| Token | debt ratio |
|---|---|
| SP + SBD | <9% |
| STEEM + SP | > 10% |
| STEEM+ SBD + SP | between 9 and 10% |
Curators gets their payout only in SP meanwhile authors can get rewards in 3 ways i.e
- 50% SBD / 50% SP
- 100% power up: all reward in SP
- Decline payout: no rewards at all
Below is a screenshot showing the breakdown of reward to the author when set at 50% and 100% power up.
TRON (TRX)
Tron is another token you can get from the steemit platform which is independent on itself since it is open source. And it is valued at 1sp =1tron based on the partnership steemit and Tron entered in February 2020 which was finalised in the beginning of the month of December in that same year.
From the screenshot below, we can see the various values of Tron.
| Characteristic | value |
|---|---|
| Price of coin | $0.09273 |
| Market cap | $6,645,613,069 |
| Circulating supply | 71.66B TRX |
| Rank | 25 |
Conclusion
I have learned a lot from this assignment. I never knew exactly how the reward pool and the difference between Tron and steem. My knowledge on these tokens have been widened and I think I'm already well equipped to explain better to other newbies when referring them to steemit.
Thanks for reading.
Written by my humble self, @majerius
CC: @sapwood
Hi @majerius, Thank you for taking interest in the 1st Task of the Beginners Fixed Class. Your grades are as follows:
My Review and Suggestions:
You have completed the task.
You discuss in easy-to-understand words.
You created an article with a very good structure, great work!!
Get in the habit of putting a watermark on every screenshot you make.
Thank you!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Okay thank you @wahyunahrul I'll do just that in my next post
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit