(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?
PoB stands for Proof of Brain. It has to do with a reader’s use of their mind to judge the quality and originality of a given content over the steem blockchain and the rewards they allot to that content. Just like every good deed in our world could be rewarded, Content with much quality and authenticity on the steem blockchain too are rewarded with the blockchain's token called steem. In other words, we could still say that PoB is the word used to describe a blogger's ability to use his brain or intelligence or wisdom to earn by creating content.
On this blockchain, there is what we call a reward where newly produced tokens are accumulated to reach a certain rate taking the possibility and rate of inflation into consideration. Where these newly produced coins or tokens are reserved is called a reserve pool. Those who benefit from tokens in the reward pool include content creators and curators who represent 65% of what the pool has to offer, Witnesses who represent 10%, Vested token holders who represent 20% as well and Finally Steem Dao who cover the last 10% or rewards gotten from the pool. These plus the stake weight mechanism forms what we can Call Proof of Brain. (PoB)
WHAT DOES CURATION MEAN TO YOU IN STEEM BLOCKCHAIN?
To curate on the steem blockchain means to carry out a number of activities on any written content. Upvoting a post or downvoting it are all aspects of Curation. Curation cuts across the following tasks;
1. Identify and read a post, Checking the source of that post
2. If it is a valuable material or content, you can distribute or broadcast it.
3. But if you find it cliched or imitative or spammed, then you can create awareness to the community about the availability of such harmful material.
If any of the following are met, Then You can then decide whether to give it an upvote or a downvote. If it is really valuable such that you want to share it with your followers then besides upvoting it, you can resteem it. All of these activities when put together make up what we call curation
WHAT ARE THE BENEFITS OF BUILDING SP?
Steem Power, often Abbreviated as SP is of Utmost Importance to every user on the teem blockchain. It is very important and beneficial to the user to hold and build their SP. User’s SP is proportionate to their influence on the steemit platform. Steem power is gotten by powering up steem tokens from the user's steemitwallet. And powering up is one of the ways of consistently building SP. This explains why the Steemit Crypto Academy frowns at Users and members of the community who are fund of powering down their accounts. Building steem power is beneficial to a user in that;
• It is first of all an investment that helps you secure your steem tokens for later use. Many steemians fail to understand this.
• Also, the reward pool functions in such a way that it better favors’ those with a higher steem power than those with a lesser amount so building steem power increases your chances of benefitting from the reward pool frequently.
• Building steem power also gives you greater influence on the platform as you tend to attract many followers, curators, votes, and benefits.
• Since there is a required amount of SP required to set up a community, building your SP gives you the privilege of expanding the blockchain by creating other communities. Also, you can easily delegate SP to a community to increase the influence of that community. All this is possible only if you can hold and build your Steem Power
• Holding steem power increases your voting power too. SP is directly proportionate to Voting power. The more the SP, The more the voting Power.
• Lastly, ever since steemit Inc. and Tron foundation entered into a partnership in February 2020 and 2nd December where Tron was integrated into the steem blockchain, 1 SP has been equivalented to 1 Trx. So having +10Sp implies having an additional +10Trx. SP generates Trx and over betters’ users earning possibility.
HOW DO YOU EXPLAIN SELF-UPVOTE AS A GOOD OR BAD SOCIAL BEHAVIOR & WHY?
Self-voting is a situation where a user decides to curate his own post by himself. To me is a bad social behavior and one which is an expression of selfishness because from my point of view the user only wants to benefit from everything and Voting power that he/she could use to curate other people’s posts thereby encouraging them, he will use and squander it on his own.
Self-upvote also goes ahead to promote unchecked content. Looking at what curation of a good post was, any user can decide to curate any type of post he publishes and if the post is unwanted, spammed, or plagiarized, allowing him to “self-vote” it is not bringing any help to the community as a whole and not enhancing the steem blockchain. And comparing it to our lay world, in education a student is not given the privilege to mark and evaluate their work because impartiality can set in so to can it be with our Steem blockchain is self-upvoting is encouraged. Let the curators and other users be there to grade your work meanwhile you use your voting power to curate and check out the quality of other people’s content.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
To check Steem Rank, Steem Price, and Coinmarketcap of steem,
Go to coinmarketcap.com on your browser. A page opens up like this
sourceGo to the search bar and then search for “steem”
screenshot taken from coinmarketcap.com
screenshot taken from coinmarketcap.comNext another page opens up where you have every detail about the Steem coin.
screenshot taken from coinmarketcap.comYou can get these same details by scrolling down the page where you find more info like this.
screenshot taken from coinmarketcap.com
From our findings, here are the required details of the steem coin
a. Rank= #293
b. Steem Price= $0.6177
c. Coinmarketcap of STEEM= $241,597,904.29
WHAT ARE THE DIFFERENT TOKENS YOU EARN BY SOCIALIZING IN STEEM BLOCKCHAIN?
We earlier established that the steem blockchain is a rewarding platform with a reward pool having tokens to reward its users. A user on steemit can be rewarded with a good number of tokens. They include Steem, Steem Dollar (SBD), Steem Power (SP), and Tron (Trx).
i. STEEM DOLLAR
Steem dollar refers to a digital currency on the steem blockchain that is earned when a post gets curation. It is divided 50%/50% between the author and curator.
ii. STEEM
This is a key token on the steem blockchain. It can be gotten by Using SBD to buy it or using local currency to buy from another user who is in possession of it. It could also be awarded as a reward in any community during contests or prize awards.
iii. TRON(Trx)
This is yet another amazing token that was integrated on the steem blockchain. 2nd December 2020, steemit Inc. and Tron foundation entered into a partnership where Tron was integrated into the steem blockchain. The integration was done in such a way that made Tron equivalent to SP at a ratio of 1:1. Tron increases a user’s wealthiness on the blockchain as the Tron token can be used to carry out other things including staking, trading, etc.
iv. STEEM POWER(SP)
This is used to determine a user’s influence on the network. Your influence on the network is proportionate to the amount of SP you hold. Very high SP attracts votes and rewards from the reward pool. We can get SP by creating good content which when curated increases our SP. It could also be gotten by exchanging it for liquid Steem at a ratio of 1Steem:1Steem power through a process called powerup. When wanting to convert SP to Steem, we call it Power down. Powering down is highly disregarded on the Steemit crypto Academy. Setting your payout to 100%SP implies that everything allotted to you in a curation except for Trx will be directed entirely to your Steem Power.
HOW WOULD YOU USE YOUR TRX EARNED IN STEEM BLOCKCHAIN TO OPTIMIZE EARNING IN THE TRON ECOSYSTEM?
Tron that is earned on the steem blockchain can be used to optimize premium earnings on the Tron Ecosystem by carrying out a number of things such as trading, staking, used in governance, voting, supply mining, etc. As we saw earlier, Tron on the steem blockchain is proportionate to the number of steem power earned. So, when a user gets curated, He receives, SBD, SP, and Trx. Trx and SP are directly proportionate. That means if the User has 10SP for his Payout, obviously He/She has +10Trx in his Tron wallet. For us to get the most out of our Trx tokens you should have a TronLink wallet where the activities listed above can be carried out. We can also connect our Tronlink wallet to our Tron account on the steem blockchain.
CONCLUSION
In conclusion, I must confess that this lesson has been an amazing one. I have learned so much about the relationship between a user’s steem power and their influence on the blockchain, I also learned much about Curation and Even the Integration of Tron into the steem blockchain. We also saw the various tokens that can be earned while working and blogging quality content on the Steem Blockchain. I must appreciate in a special way Professor @sapwood for this amazing lecture. Much has been learned and this assignment is open for your review and correction.