Crypto Academy Season 4 Beginners course - Task 2 : STEEM & TRON Lectured by @sapwood

in hive-108451 •  3 years ago 
Image edited by me on canva

Hello everyone, in this task, I will be talking about what I have learned on steem and tron. Thanks to professor @sapwood for the wonderful lecture, l learned a lot.
I will be answering the following questions below:

QUESTIONS

• What is PoB?

• What does curation mean to you in steem blockchain?

• What are the benefits of building SP?

• How do you explain self-vote as a good or bad social behavior and why?

• Explain CoinMarketCap.com to indicate rank, steem price, and CoinMarketCap of steem(screenshots required)

• What are the different tokens do you earn by socializing in steem blockchain?

I will be answering these questions one after the other.

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WHAT IS POB

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Edited by me on canva. Image source

PoB (proof-of-brain) is the method of giving curation and author rewards to users on steem. In PoB, Readers(audience) have the power to decide how valuable a post can be whether to be upvoted or downvoted. It was designed for the author to receive a reward from their content based on how good the content is. Your content has to be very original to stand a chance of receiving a curation reward, a user can’t get an upvote for a plagiarized content or non-reasonable content.
And the more steem power(SP) you have, the more influence your vote has.

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WHAT DOES CURATION MEAN TO YOU IN STEEM BLOCKCHAIN

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Image edited by me on canva.

A lot of things happen in the steem blockchain.
Firstly, I will briefly define the reward pool.
The reward pool is a place in the steem blockchain where newly minted tokens are being formed after every 3 seconds.
Some of the ways you can benefit from the reward pool are by holding sp, creating content, curating, witness, etc.
Curation is one of those things. In the Steem Blockchain, curation is the reward I get for upvoting a post and also when my post was upvoted. When a user upvotes a post, and later downvotes the post, the curation reward automatically goes back to the reward pool.
Before I curate a post, there are things I always consider such as:
I have to read the post, check if there is any form of plagiarism, check the originality of the content, the value the content gives, etc.
The value a curation gives to a post depends on the steem power(SP) of the curator, and the time the curation time after it was content was posted.

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WHAT ARE THE BENEFITS OF BUILDING SP

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Edited by me on canva. Image got from here

Steem Power(SP) is a very mandatory requirement on steemit. You can’t even be quality here in the crypto academy if you don’t have up to 150SP. It’s always good to have as much SP as possible. The more SP a user has, the more benefits he/she gets. Holding SP makes a user more influential on steemit. Without SP, a user cannot even make a post or comment on a post. When you build up your SP, your upvote will have a good value and you will be able to earn more curation rewards. Holding SP also makes the price of steem increase.

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HOW DO YOU EXPLAIN SELF-VOTE AS A GOOD OR BAD SOCIAL BEHAVIOR

Image edited by me on canva.

Self-vote is an act whereby a user upvote or downvotes his/her post on steem.
I believe this act is bad behavior because It’s a selfish act. Sometimes, I see some users with high SP take advantage of the fact that they have high SP to upvotes their post instead of them upvoting other users and they earn both the curation and author reward which is very selfish.
But sometimes, self-vote can be a result of a community curation trial.

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EXPLAIN COINMARKETCAP TO INDICATE RANK, STEEM PRICE, AND COINMARKETCAP OF STEEM.

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Edited by me on canva. image source

When I took this screenshot, steem price was $0.6224, its market cap was $241,158,047 and its rank was 186

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WHAT ARE THE DIFFERENT TOKENS DO YOU EARN BY SOCIALIZING IN STEEM BLOCKCHAIN

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Edited by me on canva. Image got from here

There are four different cryptocurrencies you can earn by socializing in the steem blockchain. Such
as steem, steem power(Sp), SBD, and tron.

STEEM

Steem is the major token here on steemit and it can be converted to steem dollars (SBD) and also be converted to Steem Power (SP) by powering up.

STEEM POWER (SP)

As the name implies “steem power” determines is the power a user has in the steem blockchain. The more your Steem power, the more your influence. Steem power is earned from author reward and also curator reward. You can also earn steem power by powering up your steem.

STEEM DOLLARS (SBD)

A user can earn steem dollars in the steem blockchain through Author reward and also through curator reward and it can be converted to steem.

TRON (TRX)

TRX can also be earned through author reward and curator reward. A user can also link his/her TRX to a Tron wallet so that whenever he/she receives TRX, it goes directly to the Tron wallet.

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CONCLUSION

I now have a great knowledge of Steem and Tron. A big thanks to professor @sapwood for the lecture. I learned so much from it.

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Great work 👍🏽