CRYPTO ACADEMY SEASON 5 BEGINNERS COURSE - HOMEWORK POST FOR TASK 2: STEEM AND TRON BY @MUKKY23

in hive-108451 •  3 years ago  (edited)

INTRODUCTION

Good day everyone. Trust that you’re all doing
well? Today I’ll be presenting my task 2 in the crypto academy for @sapwood. I will be answering a few questions and to make sure you guys find it easy to understand, I will be providing images for the practical aspects.

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QUESTIONS

What is PoB?
What does curation mean to you in steem blockchain?
What are the benefits of building steempower?
How do you explain self-upvote as a good or bad social behaviour and why?
Explore coinmarketcap.com to indicate the rank, steem price, and coinmarketcap of steem (screenshots required)?
What are the different tokens you can earn by socializing on steem blockchain?
How will you use your TRX earned in steem blockchain to optimize earning in tron ecosystem?

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WHAT IS PoB?

images (4).jpegsourcetradingzone.com

Proof-of-Brain also known as PoB consist of a reward pool and a stake- weighted mechanism also known as SP.
The PoB reward is based solely on content creation and engaging with those content.
The stake-weighted mechanism (SP) or also known as steem power, allows the users to upvote and downvote a particular content depending on how the user views that content, if it harmful or beneficial to all.
All these put together is what we call Proof-of-Brain (PoB)
In PoB, both the curator and author get rewarded. The author will be rewarded with STEEM, SP and TRX while the curator will be rewarded with SP(steem power) and all rewards are available to be claimed in seven days.

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WHAT DOES CURATION MEAN TO YOU IN STEEM BLOCKCHAIN?

To me curation in steem blockchain is the process of checking or confirming the value and uniqueness of a post and then rewarding or upvoting it with the available resources like SP, VP or Voting Weight. It could also mean resteeming it if a user deems it worthy. Curation in the steemit blockchain is very important because it is a way of rewarding an individual for his hard work and effort for creating an article free from plagiarism or in any way harmful to other users.

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WHAT ARE THE BENEFIT OF BUILDING SP?

Building your SP has benefits. Technically, more sp means more influence on the steem platform.

  • By holding your sp, you get curation reward of about 32.5% of the total pool. Which simply means the more your steem power, the more reward you get when curated.

  • The more SP you hold, the more TRX reward you get, which goes for (1 SP: 1TRX). As you continue to power up, the more TRX you get when curated. Building your SP grants you 1TRX per 1 STEEM.

  • As a beginner, the amount of SP given to you is 15 SP. This is to allow you engage, interact on the steemit platform. As you build your SP, the initial 15 SP is being deducted subsequently. Building SP helps you pay off that debt.

  • As your SP builds up, you get to take part in community building. It also allows you participate in some communities that have specific requirement before partaking in any post or contest. Example of such community is the steemit crypto academy. You need to have at least 50 reputation and at least 150 SP to partake in its fixed beginners course.

  • As your SP grows , you also get to become an influencer and get to build your follower base.

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HOW DO YOU EXPLAIN SELF-UPVOTE AS A GOOD OR BAD SOCIAL BEHAVIOUR AND WHY?

First of all, steemit is decentralized and there are no rules stating that you can or cannot self-upvote. Personally I see self upvote as a good behavior. Having to upvote yourself doesn’t mean you’re desperate, it actually reflects self-motivation. Knowing the effort you put into your work and the uniqueness of it deserves your own support as well.

WHY?

Because it makes people curious. Seeing a post that has been upvoted by the author himself gives you that sense of curiosity to read through that content. It’s more like a bait to get people notice your post and read through.

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EXPLORING COINMARKETCAP

This is a website where you can check for any token of your choice. We will be exploring the steem token using coinmarketcap.

Step one
Visit the site coinmarketcap and click on the search icon to search for any token.

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Step two
Search for STEEM and click in it

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Step three
Every information you need to know about the stem token will be displayed.

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SteemInformation
Steem rank130
Steem price0.061
Market cap239,396,232

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DIFFERENT TOKENS YOU CAN EARN BY SOCIALIZING ON STEEM BLOCKCHAIN

While socializing on steemit, there are different tokens which can be gotten as a form reward. They are:

  • STEEM: Steem is given as rewrads to authors when their post are beign upvoted for their quality post.

Screenshot_20211204-214749.png

  • SBD: Sbd known as steem based dollar is earned when users take part in community activities like contest or engaging by posting quality content.
  • TRX: Tron is always earned with steem when an article is upvoted

Screenshot_20211204-214809.png

These rewards comes in different ratios. For the author, it can be SBD and STEEM, that’s if the debt ratio is below 90%. It could be STEEM and SP if the debt ratio is below 10%. It could also be STEEM, SP, SBD. In this case the debt ratio has to be between 9% and 10%. The default setting for payout is mostly 50% SP and 50% SBD.

The authors aren’t the only ones getting rewarded though, so does the curators as well. But unlike the authors reward, the curators reward only comes in SP.

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HOW WULD YOU USE YOUR TRX TO OPIMIZE EARNING IN TRON ECOSYSTEM?

TRX is the token owned by the tron ecosystem. It is one of the rewards earned on the steem blockchain by engaging with content on the platform. One can optimize his earning using trx on the tron ecosystem by choosing a mining pool in sun.io. By staking your LP tokens, you can further mine SUN token.

Another way is to optimize earning with TRX in the Tron ecosystem is to partake in governance.

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CONCLUSION

Through out this article, we've been able to discuss very important aspects of the STEEM and Tron ecosystem.
Knowing how the STEEM and Tron ecosystem works is of paramount to those who make use of their ecosystem. It is of great important to study and know how they work. The different token to be earned and how to optimize earning on these ecosystems. A very big thank you to professor @sapwood for this wonderful lecture. I’ve learned a lot and look forward to the next lecture. Thank you.
Cc.
Professor @shemul21
@steemcurator02
@steemcurator01

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@mukky23,

Your source link for the second image seems to be a incorrect link.

Thank you for pointing it out sir. It has been corrected.

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