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

in hive-108451 •  2 years ago 

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Aslam-mu-Alakum !!

Hello dear my steemit family, i am yousaf haroon khan and my this post is for taking participate in the Steemit Crypto Academy Contest Season 5 Week 2 - Get to know the Steem Blockchain contest. i am very much happy that i am going write about steemit blockchain in this post. if you are new user or do not know about this challenge then read this Steemit Crypto Academy Contest Season 5 Week 2 - Get to know the Steem Blockchain
i would recomend to all my pakistani user that you should take participate in this challenge , you will imporve your steemit knowledge and how this blockchain work.

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

What is consensus protocol? Before we understand the Steemit consensus protocol, we need to know that what is a consensus protocol. As we all know that there is no central unit in decentralized blockchain and decentralized blockchain works on nodes. In this way, whatever work is done by the node in the blockchain, it is done through the consensus protocol and the inclusion of a new block during the transaction is done through the consensus protocol.
We can say that consensus protocols are sets of algorithms where blockchain transactions are completed and then each block is verified and newly created blocks are added to the blockchain. If a hacker with a consensus protocol tries to add a wrong block anywhere in the blockchain, he will not be able to add it due to consensus protocols because the algorithms will not match.

If we talk about the types of consensus protocol, then they are many. But here I will tell about POWv and it is also the most famous one. Now there is an important part of our question. steemit is a decentralized blockchain and works with consensus protocol type POW system and in it steem blockchain user and steem staker confirm the new block through their activities. steemit staker on steemit blockchain which we call steem power They are part of the consensus protocol as a validator and they verify the wintness by voting and give authority to create blocks through the consensus protocol. As we know that every blockchain has a consensus protocol system and thus in steem blockchain witness and SP holder or we stake holder complete this consensus system.

Proof of Delegated Participation

As we all know that steem is a social decentralized blockchain and the user gets steem coin reward for writing content on it when any user who has the power of steem. In this way, when any user upvotes, the process of transaction starts with this process. And in this way, all the confirmation of the transaction of steem coin on the steem blockchain and the verification of the new block are done by the same DPos in which all Stake holder validator and witness together complete this process through consensus protocol. In Dpos, all users who have steem stake, which we also call SP, delegate their Coin to the validator to confirm that the one who has been delegated will validate the transaction. Thus, all users who have Passes are coin stakes, they hand over all their power to wintness and the steem blockchain infuses all processes under the same strong consensus protocol, which is a strong one.

What are the differences between DPoS and PoW?

In proof of work, all the blockchain community participates in this process. Whenever a transaction takes place on the PoW blockchain, they should understand that there is a kind of complex equation. This complex mathematical equation is given to all the blockchain and which The computer system will be heavy and powerful or any miner who solves it quickly will create new blocks in the blockchain and validate all transactions. And in this way we can call this PoW blockchain community a miner . While in DPoS, those who are coin stakers and by delegation give this authority to the validator through vote, which is called wittness on Steem and top validator witness and then By validating the transaction, new blocks are created and the transaction is validated. If I say in a word like this, the verification of transactions on steem and the new block of the blockchain is the authority of the witness and while in PoW all the blockchain community is take particiate to solve but successful, the one who has heavy computer machine and who solves the complex equation quickly is successful that has authority to create news block.

In PoW, the cost of a powerful system is high, while in DPoS, running a witness node can work best with less cost. DPoS is more user-friendly than PoW. In terms of blockchain scalability, PoW is superior to DPoS. Both DPoS and PoW are decentralized, but due to the coin staker or witness, PoW is called more decentralized because in PoW, all the communities are important and the one who solves the conplex equation faster would be entitled to the reward, while DPoS In coin stake this option is given to the wittness which is not distributed to the total community.

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

Just like when we upvote a writer's post on the steem blockchain every day, a three-second interval between one vote and another vote is necessary because upvoting is a transaction and thus a block is created on the steem blockchain every three seconds. And this sequence continues. Each block is added to the steem blockchain after complete verification in its own time. As we all know that on steem blockchain, if steem coin is sent to someone, then the transaction costs are zero and the transaction fee is zero. But when a steem staker upvotes a post, a block is generated every three seconds and the distribution of steem coin in the reward pool is something like this. New steem coins are mined whenever each block is generated. And so these new tokens are divided into witness, developer team post owner and SP holder according to the percentage allocated in the reward pool. In the current situation, 50% is divided into curator and rahter. The curator refers to the user who has a coin stake and he has upvoted the curator with his staker power, the block will be prepared and added to the reward pool. 10% of the steem coin distribution goes to the steem team to cover the costs of running the network and employees, while 15% goes to wittness and the remaining 65% is split between the curator and the moderator at 50%. If the steem blockchain is compared to the rest of the blockchain, then its biggest uniqueness is that the transaction fee on the steem blockchain is zero and the user, witness, curator and moderator have numerous rewards for creating each block, which is described above.

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

The application I am using to write my post on steem blockchain for reward is called steemit. And this steemit is the first application that was launched by Ned Scott on the steem blockchain.

Steemit is a decentralized social platform. steemit is the first decentralized social media that rewards its users in the form of cryptocurrency for writing content.

Steemit is a decentralized blogging platform and every user has full control and ownership of their blog. If we compare YouTube, Facebook and Tutor with steemit, then steemit gives its users free expression and full ownership of their account and makes each user's steemit account sovereign over the complete wallet, while complete freedom in other mentioned social media.

Expressions are not rewarded. Currently steemit users are in every corner of the world and steemit social media is revolutionizing the lives of its users. People from all walks of life are associated with the steemit platform and are improving their economic conditions through content writing.

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What is Proof of Brain (PoB)?

PoB which we can say on steem blockchain is to reward each person according to their hard work and effort. Steemit is a blogging platform. Some of us on steemit write user posts and some stake steem coin as SP which we call steem power. When a curator upvotes a post according to its quality, its mean he is reading and curating the post and on the other hand some user writing the post and are rewarded with steem coin by curator . Because every user is keeping steemit active with their hard work and activities. Because we are all a user, someone is commenting under a post, some are playing the role of curator and thus are witnesses,With the involvement of all of them, steem blockchain works and rewards its users, so it is proof of brain of work on steemit .

I am grateful to the : SteemitCryptoAcademy team for giving us the opportunity to write on this topic. I have tried to write according to my understanding and the information in this article.

here i would like to invite @adeljose
@anwar1976 and @tariqkhanpti to take participate in this contest.

Regards
@yousafharoonkhan

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سر آپ نے بہت ہی اچھے طریقے سے سٹیمٹ کے متعلق تفصیل بتائی ہے۔ میں نے آج یہ تفصیل پہلی دفعہ پڑھیچہے اور نیری معلومات میں بہت زیادہ آضافہ ہوا ہے۔

پروفیسر آپکو میری پوسٹ اچھی لگی ہے یہ میری کامیابی ہے۔ بہت بہت شکریہ آپ نے وقت نکال کر میری پوسٹ پڑھی ہے

PoS and PoW are very well explained by you. I want to ask you that we will consider DPoS as PoS until we do the token for DPoS. Can anyone become a witness, for example, if someone has SP of five thousand, he can become a witness or how will we vote for witness.

Very informative post and i'll do my best to enter my entry

Every blockchain has its own method to distribute reward , dpos and pos different ..in dpos staking coin is necessary and in pow is different. Yes every one can become wittness on steem blockchain..thank you so much for reading my post and supporting words

Ap nay tanam tafsil bhut achay abdaz say bayan ki hai. As ma kuy shak ni hai ka steem blockchain humain apnay wallet ma khud mukhtar banata hai. Sir ap nay bhut zabardust tariqa sub khuch btya hai. Bhut bhut shukriya

Respected jessica566 thank you so much for this that you visited my post. I tried my best to write the text in simple words ..thank you so much

Dear sir, you have explained this post in a very great manner. I like the way you presented the explanation of the Steem blockchain and the consensus protocol, DPoS that is used on the blockchain.

In PoW, the cost of a powerful system is high, while in DPoS, running a witness node can work best with less cost. DPoS is more user-friendly than PoW.

You are very right here. The less consumption of energy and no use of the complex and heavy machinery for the validation of transactions make the DPoS consensus more scalable and effecient than the PoW.

Thank you for sharing your beautiful post. I wish a great luck for you. 🤞

Whenever a transaction takes place on the PoW blockchain, they should understand that there is a kind of complex equation.

That's one thing of PoW as it requires much energy to validate data on its chain, this makes not eco-friendly and for that reason alone a lot of mining stations for Bitcoin was forcefully closed down in some countries. DPoS only requires only little power .

Whenever a transaction takes place on the PoW blockchain, they should understand that there is a kind of complex equation.

This is true as every participating miner is required to solve a puzzle to be awarded the opportunity of validating a transaction, therefore, PoW requires much energy to validate data on its chain, making it less eco-friendly.

Hey friend,

You are really right friend, you explained so we'll and that's great because you have impacted a wonderful irreplaceable knowledge about the consensus mechanism and their benefits, you have also gave a wonderful knowledge about steem Blockchain technology.

Just like when we upvote a writer's post on the steem blockchain every day, a three-second interval between one vote and another vote is necessary because upvoting is a transaction and thus a block is created on the steem blockchain every three seconds.

Now I fully understand why I get such Pop up message when I try to curate quality steem post's a pace because I was in a hurry, this time record is so awesome I must say it's really fast and this has made the Blockchain very much effective and capable when carrying out it's duties.

Thank you very much for sharing, please you can check my own entry here

wishing you success

thank you very much respected for this appreciation

  ·  2 years ago (edited)

The application I am using to write my post on steem blockchain for reward is called steemit. And this steemit is the first application that was launched by Ned Scott on the steem blockchain.

I must confess, this is the first time I'm hearing of the name Ned Scott and it surprises me as I've done a lot of research on the steem blockchain. Thanks for this valuable piece of information

welcome respected, it is my success if you got informative text, thank you so much