SEC S17-W5 || Whales In Steem blockchain

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I'm so delighted to participate in this engagement challenge it has been my wish to take part in this educational community, talking about whales in the Steem blockchain we are going to analyze some important things about them and as well discover their work in the blockchain.

Who are considered whales on the Steem platform, and what are their responsibilities to the community?

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On steemit we have many whales , these are person's or even entities who hold great percentage of crypto in their wallets which makes their influence on Steem space very powerful and influential.

Users like steemcurator01 , @steem,@rme @ steemcurator02 and many others are considered steemit whales because of how robust their wallets is.

Everyone wants to be influenced or supported by the whales on Steem platform therefore their responsibilities are thus.

• To influence the market price. I believe that when these whales accumulate much more Steem from the community it will affect the market price. So is the role of whales in Steem blockchain to maintain a favorable Steem Market price to the users.

• Support . The whales in Steem platform support good content and as well meaningful projects. This is the major role I have come to see the whales play on Steem blockchain and it's very valuable by steemit users.

• Protection/Mentorship. The whales protect the growth of communities by supporting them. They also go as far as monitoring communities on the need to accumulate high Steem power .

How do whales influence the value of cryptocurrencies and what role do they play in the functioning of the Steem blockchain?

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Like I said whales holds good crypto coins in their wallets, the can decides whatever that is suitable for them . Hence their decisions can affect the market. For example when they decides to acquire more Steem to their wallets it will definitely influence the price in the market.

The whales on Steem play the role of giving a helping hands to critical situations such as helping users who needs help or assistance to do some projects.

They also play the roles of overseeing the activities and happenings in the platform.

They as well monitor illegal users and correct them where necessary.

What are the different phases that whales use in their activity on Steem and how does it affect other users?

These entities has their style of activities but the most commonly seen on Steem are as follows.

• Curation rewards. Since the have large steempower their curation rewards at the end of every post attracts good rewards.

• Purchase from the market. They have the power to buy and accumulate as many Steem power as possible to their wallets. These they are doing the

• Voting. On Steem we can feel the phases of whales activities by their vote on users post, this vote by whales can arouse the curiosity of the user to stay long and it serves as a motivation to Steem users. It has a positive influence on users

The effects on user.

• Motivation. The support of whale on user serves as a motivator to the user.

• It brings the user to lime light. Many other users may want to follow and tap from the blessing there by getting the rewards from the whales.

• It encourages more support.

What potential challenges might users face on Steem due to the presence of whales, and what strategies can they adopt to protect their investments?

The influence of the whales are very dangerous and users may face a lot of challenges from their presence here are some common ones

• Low motivation. Many users has lost that self motivation on steemit because of the choice of the whales in influencing whom they deems fit and this is a great challenge to users whereby they feel inferior over others who are frequently getting the support .

• Lack of engagement. Some users feels so reluctant about engaging with others due to the presence of the whales. They feels their engagement does not count.

I think the whales should protect their investments by trusting their huge support to users who can turn the support to grow the system instead of wasting the support.

They can also protect their investments by making sure the influence the market positively.

How does the presence of whales impact ordinary user participation and engagement on Steem, and how can we encourage a greater diversity of voices and contributions?

We all know the power and influence the whales are carrying as such their presence has a great impact for users like me. Some of those impacts are.

• Increase in reputation. Our reputation on steemit starts from 25, if the face of whales shines on a user frequently they will help to increase the reputation of the user and the users growth will be faster than expected.

• Increase in Steem power. The face of the whales will greatly influence users Steem power to a good level.

• Opportunities in the Steem platform. The influence of the whales will the user to be seen and be chosen for important roles in the platform.

To encourage greater diversity of voices and contribution here are my suggestions.

• Fairness in the support. The support is very important therefore the whales should try as much as possible to be fair in their support.

• Reaching out to upcoming users. There are more supports to the older users than the newcomers. I will like to encourage the whales to atleast show these set some love by motivating them to stay. Thanks to @dove11 for taking up this responsibility of support the newcomers with his spare Steem.

• Creating more means to reach more users who are doing well even when their Steem power is small.

To become a whale is not easy, they have that power that makes them to be referred as whales because we know how the whales behaves in the big ocean. As I'm gradually growing, my dream is to become a whale on Steem one day. I'm very far from there but there are options for me to get there faster. I will surely be there give me some years.

This is my entry in this week's engagement challenge, I must say I'm very happy that I took part , we need more of this type participatory topics .

I hereby invite @goodybest @ripon0630 @wilmer1988 @lhorgic