Steemit Crypto Academy Contest / S5W2 - Get to know the Steem Blockchain

Hey 👋 friends

I am really glad to participate in this week's engagement contest and it's a thing of joy that the team as normal has provided a valuable, educative, and interesting contest topic for us to engage in. It makes it more interesting to see the topic relating to our dearest Blockchain technology and dearest blogging platform, this topic has made me go through research and discover such lovely knowledge about the Blockchain and how it works, so I will be sharing it with you to educate you on facts you never knew about steem Blockchain.

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Discuss the consensus protocol used in Steem, Proof of Delegated Participation. What are the differences between DPoS and PoW?

Before I define the type of consensus mechanism Steem Blockchain uses, I would love to explain the term consensus mechanism to all.

Consensus mechanism is a popular and famous term in the Blockchain world because all Blockchains must have a consensus mechanism to make the Blockchain successful and legit. The term Consensuses mechanism is coined from two words "Consensus" and "Mechanism", "Consensus" can be defined as the act of decision-making between a group of people to have an agreement on something or a deal. On the other hand "Mechanism" can be easily defined as the act of working together as a team in a machine or technology, so therefore from what I have said above, I am free to define the Blockchain Consensus Mechanism as the act of working together as a team to agree on how a Blockchain machine or technology would work.

A consensus mechanism is used by every cryptocurrency blockchain. It is a system that blockchain network users use to agree on all its transaction legitimacy. The Blockchain Consensus Mechanism as a system ensures that all legitimate transactions are safely and properly recorded on the blockchain and that all valid transactions are present in every copy of the blockchain.

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Our great platform steemit which runs on steem Blockchain work with the help Proof of Delegated Participation consensus mechanism, which is very transparent and efficient for platforms like Steemit. Just as the name implies "Proof of Delegated Participation", the top twenty witnesses are elected through voting by users who hold the asset and at the same time, it selects witnesses who are always participating and active on the Blockchain, for example on steem Blockchain which is one of the Blockchain technology using this consensus mechanism.

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The top witness is the witness who has votes from more users holding the steem coin or will I say a top witness is a witness with much more votes from the big whale on the Blockchain and this witness must always be active in participation like validation and Creation of new blocks on the Blockchain. All power belongs to the stalk-holers who successfully elect a new witness every time because they are the ones who put them into power. The witness, on the other hand, is in charge of Block creation and block validation, they are the ones who vote on whether a fork should occur or not.

What are the differences between DPoS and PoW?

DPoS	Pow
Witness are selected by large stalk holder	Witness are selected by how fast and efficient the witness produce and validate blocks
It's much more Cheaper to run	It's very much expensive to run
It consumes fewer power resources	It consumes more power resources.
It's a faster and newer consensus mechanism	It's a slower and oldest consensus mechanism.
Having fewer and lesser Blockchain using the consensus mechanism	most Blockchain technology uses the consensus mechanism, especially Bitcoin
It depends on how many assets you and your friends have	It depends on how hardworking and capable you are in Blockchain validation.

With this will understand that the steem Blockchain uses the best consensus mechanism because it uses both the proof of participation (which is similar to POW) and proof of Delegation (which is similar to DPOS), so therefore Proof of Delegated Participation solves most issues another consensus mechanism can't. Because it uses the Proof of Delegated Participation if anyone tries to use the Blockchain wrongly the system automatically disables the witness.

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How often does a block occur in Steem and how many tokens does it use? Discuss this topic.

As we all know now steem Blockchain technology uses one of the most effective and efficient consensus mechanisms in the crypto world, this has made it so so powerful and incredibly faster than other Blockchain technology, especially those that use the Proof Of Work consensus mechanism. This consensus mechanism has enabled it to produce blocks so fast it produces new blocks every "3 seconds", wow isn't that cool? These blocks are then validated by a witness who is randomly selected for the top 20 witnesses who are always active and efficient.

Starting in December 2016, the rate of new token generation was set at 9.5% per year, and it decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. Inflation will continue to fall at this rate until it reaches 0.95% after approximately 20.5 years.

Steem

Steem is the primary accounting unit on the Steem blockchain. The value of STEEM determines the value of all other tokens on steem Blockchain. Because STEEM is a liquid currency, it can be bought and sold, exchanged, and transferred to other users as a form of payment.

SBD

Many newcomers to cryptocurrency are perplexed as to how "magic internet tokens" awarded by the platform can have real-world value. SBD is to assists in bridging the difference between more traditional fiat money systems that mainstream users are accustomed to and the cryptocurrency tokens awarded through the platform.

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Do you know what was the first application to run on the Steem Blockchain? Discuss this application.

Yes, I do know the application on steem Blockchain, this application is known as steemit and its official website is steemit. com.

Steemit

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Steemit a platform initially developed and discovered by Daniel Larimer and his college Ned Scott, the company Steemit, Inc headed by the two officially launched steemit to the world on 4 July 2016. Steemit is one of the first and most decentralized blogging/social media platforms that contain quality content from skilled and intelligent authors from all over the world, this platform is so decentralized and sincere that the slightest criminal act can easily be detected and penalized easily. Every steemian has equal rights and partiality and racism are highly prohibited. Steem gained popularity within this short period with over 1.2 million successfully created accounts.

One thing I love about this platform is their zeal and hard work to continue improving no matter the circumstances, every single day a new update is been seen or brought about just to better

Steemit, as I have said earlier, is the first application on steem Blockchain, It's a blogging/ social media platform that supports the growth of both Authors and Curators in the platform. This platform was designed to bring to an end the issue of administrator and company owners taking all rewards gotten after users help them create traffic and make the social media platform active, unlike platforms like Facebook, Tick Tock, and Twitter, steemit appreciate and support good content creators with a share of the good work.

Steemit, as a free decentralized blog, has an advantage over other types of social blogs in that it relies on transparency in its users' activities. Users can view the earnings of each post publicly and openly investigate the authenticity of the post's content. Steemit's blog encourages users to go through the process of reading, commenting, and voting on a post.

On 24-02- 2020, Steemit was sold to the current and able CEO Justin Sun, who is also the founder of Tron Blockchain. After the integration of both steemit and Tron Blockchain, authors can now receive rewards in Steem, Tron, SBD, and steem power from quality created posts and comments, this relationship has proven to be beneficial to the two Blockchain (STEEM Blockchain and Tron Blockchain)

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What is Proof of Brain (PoB)?

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Just as the name implies PoB (Proof of brain) is a type of Mechanism that selected a user, post, or article that is legitimate and of very good quality, it helps shuffle the hard-working authors who know to use their brains from authors who make a very poor quality post. Just as the name implies it has to do with the efficiency and capability of the author's brain while using human participation.

As a result, the system's goal is to attract users by rewarding them for their contributions. Anyone who uses the platform should be aware of this overarching goal. But let's go a little further. The goal is to keep users engaged on the platform and to distribute rewards to a larger group of people. As a result, we seek compelling content (not necessarily of high quality) and equitable distribution among users. These two objectives should ideally result in desirable network effects and platform mainstream traction.

As a result, proof-of-brain dissolves into people devising schemes to make a quick buck and generate profit rather than using their brains to create meaningful content. While such activity could be considered legitimate proof that one has a brain, it would be considered harmful to the ecosystem.

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Conclusion

The Steem blockchain I'd the best social media platform that has helped a lot of people like me educationally, emotionally, socially, and even financially, with a platform like Steemit, I believe Blockchain technology would be very much famous and effective in the nearest future. Steem consensus mechanism Proof of Delegated Participation is one of the best in the Blockchain world because it solves many issues like decentralization, time efficiency, cost and so many more downsides in other Blockchain technology.

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Thanks for going through it, starrchris cares ❤️.

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Please try to vote and comment if you like the post, I am inviting @patjewell @jueco @badmusofficial, and @drqamu to participate in this contest.

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