Steemit Crypto Academy Contest / S10W3 - Reward System on Steemit Blockchain

Assalamualaikum everyone.

Welcome to this post. I hope that all of you will be doing well and enjoying the time with the grace and blessings of Almighty Allah. Today, I am here to be a part of the week 3 contest in the SteemitCryptoAcademy community. The topic of discussion is Reward System on Steemit Blockchain. So, let's start the task without any waste of time.

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Does the attribution of rewards on steemit follow the same convergent linear reward curve since its creation or has it undergone some modifications? If yes, talk about the causes of this change?

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The attribution of the rewards on the Steemit platform is not the same from the time of its creation. When the Steemit blockchain was launched and created in 2016, the rewards distribution ratio was set as the Quadratic Linear Reward according to which the rewards were distributed among the users on the basis of the following quadratic equation,

• f(x)= x^2

According to this reward system, the SP holders can earn squares of their input SP. It means, the more the SP a user would have, the more will be his/her earning. It was somehow injustice with the newcomers and the users who could not be able to invest huge SP. So, to overcome this issue, the rewards system was converted to the Linear Reward in 2017 which is based on the following equation,

• f(x) = x

This means that the input will be equals to the output. The SP of the users will help them to get the equal rewards through voting/curation. But, this thing again causes issues like the misuse of the rewards system in the form of self-voting. And thus, the discovery of high quality is highly disturbed.

To overcome the drawbacks of the Linear Rewards Ratio, a new reward system was introduced along with the HF of 2019. This reward system is still applicable on the Steem Blockchain and it is known as the Convergent Linear Reward. This is actually based on the following expression,

• f(x)=x^2 / (x+1)

The above equation represents the Convergent Linear Rewards ratio which is highly effective and beneficial for the blockchain and that is why, it is still applicable on the blockchain. This reward system encourages the users to interact and engage with other users of the platform and upvote them with the use of Proof of Brain (PoB).

Causes of These Changes

Although, we have discussed the working of these three different reward systems and the cause of their introduction. But still, there are some general things which should be considered as the major reasons behind these changes.

• The most important reason was to stop the misuse of the rewards system of the platform. The Quadratic and Linear reward system are more susceptible of misuse .

• Another major reason was to improve the overall working of the platform and attract more and more investors in the platform and also the content creators.

• To encourage the users to engage with other users and use the grey matter while creating and curating the content.

• To encourage the justice level between the new and old users of the platform, it was important to make changes in the reward systems.

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Show the added value that brought it this convergent linear reward curve, and how this system is applied on Steemit Blockchain.

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As we have already discussed that there is a great contribution of the Convergent Linear Reward system towards the improvement and development of the platform. The most important thing that this system added to the blockchain reward system is that the users are discouraged to do the self-voting.

The potential gain of the Convergent Linear reward system is that the influence of the whales is reduced as compared the previous reward systems. In past, the whales who are actually holding huge SP were controlling the system because they get multiple times output from their huge SP.

But with the involvement of the Convergent Linear Rewards Curve, the influential power of these whales is reduced as the power is increased after a certain level from where the curve becomes linear. It means that now they are encouraged to spend their SP on other users while reading their posts and curating them.

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Another major gain of this system is that the level of engagement between the users is increased and it is actually the main motto of the platform. The more the engagement of the users, the more will be the activity of the platform and thus this thing contributes towards the growth of the platform.

Convergent Linear Curve allow the high quality content creators to get the equal response and earning as compared to the huge SP holders. Yes, its true. The convergent linear reward encourage the users to create high quality content and show high engagement to get upvotes and thus make their content visible and supported from more and more users of the platform.

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What is the difference between isolated curation and community curation? What type of curation do you prefer for quality content in Steem Blockchain?

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For the curation on the Steemit platform, there are two common terms. One of them is the Isolated Curation while the second one is known as the Community Curation. Let's discuss these two different types of curations individually.

Isolated Curation, as referred to by the name, is a type in which the individual curators curate different posts on the basis of their own analysis and after determining the quality of the post, or so. The individual curation means that it is done by using the voting power of an individual user.

There are several things that can effect the isolated curation. The most important thing is that the isolated curation is done on the basis of the favor or a single user who is actually involved in the curation. He/She can pick up a random post and curate it if they like that post.

On the Other Hand...

Community Curation is a process in which a whole community or a group of different users is involved while curating the posts on the platform. This curation may depends on the standards of the community and curation trails that are set at the time of making these trails.

It is actually a process in which the Steem Power of all the users who are involved in a particular curating community or trail is utilized collectively to support the posts and the picking of these posts may depends on the community standards and many other factors as well.

My Preference

If I would talk about my preference between the community curation and the isolated community then surely it is the community curation. There are several reasons behind the selection of the community curation and the most important of them is the fact that we can earn better and more curation rewards with the help of the community curation.

Another thing is that, the collective upvote worth of the community curation trails is more than the worth of vote which is obtained by the upvotes of the same users, individually. Let me explain the difference between the vote worth of the community curation.

Let suppose, there are two users say A and B having 25,000 effective SP each. So, when they will vote a post individually, their vote worth would be 0.17$ each. Thus a total of $0.34 will be received by their individual votes.

But, when they have formed a community curation trial then the total effective SP will become 50,000 SP and now, if they will vote a post, the total received vote would be of worth $0.37

From the above example, it is cleared that the vote worth of community curation is more than the individual or isolated curation. And thus, the curation rewards will be more in the case of community curation.

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Does the community curation have only a financial contribution or other benefits, if so which ones?

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We have discussed the community curation briefly in the above section. Now, we will move towards it's benefits. Of course, there are many benefits of the community curation other than the financial contribution. Some of them are discussed below.

The most important benefit of the community curation is that it help to encourage the friendly and supportive environment at the platform. It can also help the users to establish the strong communities on the platform and thus contribute towards the growth of the platform.

Another important benefit of the community curation is that it improves the content discovery on the platform. When a community curation trial upvotes a good quality post, it is visible and accessible to many other users of the platform.

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Besides improving the visibility of the content on the platform, community curation also involved in the rapid growth of the users reputation on the platform. Moreover, the community curation can also improve the amount of rewards generated by curation on the platform.

We can also say that the community curation is contributing a lot towards the growth of the platform because it encourages more and more users to interact with each other, engage with the posts and show organic growth, to be sure. So, these are some potential gains of the community curation.

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Conclusions

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The reward system on the Steemit platform has undergone a number of changes to improve the working of the platform and minimizing the risks of abuses of the rewards pool. Currently, Convergent Linear Reward system is applicable which is the most effective among the previous ones. Community Curation is much better than the Isolated Curation due to a number of benefits that it offers.

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I would like to invite my friends @malikusman1, @uzma4882, @sahar78, @khursheedanwar, @cryptoloover, @artist1111, @josevas217 and @f2i5 to be a part of this amazing contest.

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