Here is my homework work for beginners course task 2 by professor @sapwood to the question;
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?
Proof-of-Brain can simply be referred to as curations and rewards are distributed for authors and intellectuals on Steemit. It is pretty easy to see why this reward method is referred to as Proof of Brain; as it's the community that rewards authors and creators according to the quality and worth of their creations or contents.
What does curation mean to you in Steem Blockchain?
As we all know, users of steem may may not find quality in the articles or works of others. Curation simply means the process of pivoting a particular article. This act helps users and creatives earn from their works through curation reward.
What are the benefits of building SP?
Steem Power, otherwise known as SP is very important on Steemit. The amount of value it holds on Steemit is immense, among which is:
- It helps in increasing Reputation, A much needed Utility on Steemit. This is because as your reputation grows, your profile grows and also becomes well known on the platform.
- Also, among the benefits of having a high Steem Power is that creatives or users with higher steem power gain more in curation rewards than those with small or lower Steem Power.
How do you explain self-upvote as a good or bad social behavior & why?
I believe Self-vote is self explanatory at a first glance. This simply refers to the act of users or creatives continuously upvoting their own work. This practice of Self-voting has become very rampant among members of the Steemot platform. Personally, I do not believe this is an acceptable behaviour in the community. We have seen some works that are not up to standard but are continuously upvoted by the creators in the act of self voting. We all know Steemit is a platform for community engagement. When the voice of the community stops to matter, and people continually self upvote, no matter the calibre of the work done, it might have a negative impact on the platform in the long run.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM.
The Current Price of Steem on CMC (As At Time Of WritingThis Article): $0.6025
Rank of Steem on CMC: #184
Market Capitalization of Steem on CMC: $2,041,819,552,142
The Circulating Supply of Steem on CMC: 385,405,865 STEEM.
What are the different tokens do you earn by socializing in Steem Blockchain?
Basically, everyone can earn 4 different tokens on Steemit. These tokens are earned through various ways, including being an active participant on the Steem blockchain, posting your own works, and curating the works of others. The 4 tokens are as follows:
- STEEM
- SBD
- SP: For The Steem blockchain
- Tron For The Tron blockchain.
Brief Breakdown Of The Four:
STEEM: Steem is the number one token of the Steem Blockchain. Their are varieties of ways to earn steem, including creating articles like this, curating the works of others.
SBD: The Steem Backed Dollar, or SBD for short, is paid as a 25% part of the payout rewards.
SP: As discussed above, Steem Power is much needed for the growth of each users profile on Steemit. It's part of the rewards paid to users upon curation of each works.
Tron (TRX): Creatives earn TRX which is paid directly to their Tron wallet on Steemit, in a 1:1 ratio.
How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
Personally, I'm a fan of hodling tokens. I believe so much in the partnership between Steem and Tron, and would hodl the token. It's my believe that If everyone in the community follows this kind of mindset, both tokens will continue to soar higher. I can also proceed to stake my TRX on the Tron blockchain via some DApps noted to make extra token either on TRX or other token on the Tron blockchain.
conclusion
These tasks has broadened my overall knowledge about how the Steem Blockchain and platform works, and I hope it broadens yours too. My research into Proof of Brain (PoB) structure of the Steem platform, clearly shows that Steemit is designed to reward intellectuals and creative thinkers, and this in the long run will have a positive impact on the blockchain. Insights into the importance of Steem Power (SP) in the building of each person or user's profile is also included in this work.
A read through this article will surely be useful for novices and experts alike, looking to gain more insights into the workings of the Steem platform. Thank you.