The Steemit Engagement Challenge is in its 2nd week across 7 districts. Steemit Crypto Academy is opportune to be part of this challenge as we have almost completed the first week of the challenge. We are here again to introduce the new game for week 2 and we wish you will experience and share your experiences in the crypto industry. All you need to know regarding the contest follows in other areas of this paper.
Contest Theme: Rethinking Centralized Businesses
According to coinmarketcap, there are 515 businesses in the crypto demand at the time of composing this report. Let's look at exchanges as a marketplace where users carry out cryptocurrency dealings. This can be trading, staking, lending, and borrowing benefits. Decentralized businesses are more secure as users have entry to their private keys and are also in control of their funds. Despite that, we tend to see centralized businesses topping the chart in all comparisons in the crypto initiative despite having authority of users' funds and going against the aim of the crypto enterprise which is decentralization.
We assume every user in the crypto space has either used a centralized or decentralized business to carry out crypto transactions. We expect you to highlight the unique qualities of centralized exchanges and what you think about centralized businesses. You are also expected to review your favored centralized exchange and examine its unique features. Most of us have attached to a certain exchange and might have skipped out on important features of other exchanges. We hope this contest will engage users as they discuss their favorite crypto exchange.
What is Expected in the Contest?
We understand some users in this competition haven’t born part in the earlier academy classes. Please ensure you understand the contrast between a centralized and a decentralized business before taking part in this competition. You can visit the Steemit Crypto Academy Season 4 Beginners' Course - Task 7: Dex, Cex, Popular Exchanges and Trading Cryptos by @imagen.
. Discuss shortly Centralized relations and its Usefulness to crypto users.
. What do you look out for when selecting a business to trade your crypto assets?
. Is there anything about your favorite business you will like to be modified? Discuss.
Contest Guidelines
. The article should be at minimum 300-500 words. You can write more. Your article must be free of any form of plagiarism.
. Your report must get at least 10 upvotes and 5 valid statements. Do not be interested in vote-buying.
Your report must get at least 10 upvotes and 5 valid statements. Do not be interested in vote-buying.
. At the end of the week/month, we would designate the top 3 users to be compared with other players in other neighborhoods for a possible win for the week/month.
Other things to know about the Challenge
There are rewards for fantastic content creators across the 7 neighborhoods, these are specified weekly and monthly. To qualify for any of them, let's see a few things that must be comfortable.
Weekly Winners
. Users to be assessed for the weekly winners must have entered 7 contests across all the participating neighborhoods in 7 days.
. One entry per day, posted before/at 23:59 UTC of each day. And must work to all rules, also as specified in the tournament hosted by each neighborhood.
. The articles must have an average number of ≥ 50 upvotes and ≥ 10 comments.
Conclusion
This competition aim at educating and engaging users to discuss centralized exchanges. Feel free to describe yourself and tell us your knowledge so far utilizing your favorite centralized exchange. The procedures for this round have been highlighted and we urge you to attach to them. The comment section is open for any confusion or suggestion on the contest.