Basics of Steem (Part 21) : What is Voting Power

in hive-183397 •  last year 

INTRO

The Tron Fan Club is a specialized community working on some specific topics. As a moderator of the community, I am regularly sharing several tutorials to help newbies. In this series of tutorials, I am trying to share the basic issues of Steem blockchain.


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In my last 20 posts on steam blockchain I tried to cover some important topics of steemit. From this post I would like to start another topic which are really helpful here in this blockchain. Basically this is a series of topic that I would like to share with my readers so that newbies can get a better idea by going through the posts about the steem blocchain and how to work here. Today I am again going to share a basic tutorial on Steem Blockchain. In fact today's topic is so important that everyone should know this topic. Almost everyone who works on steemit has an idea about this but there may be some new users who may not have an idea about it. So today I would like share on voting power in Steemit. This series of tutorials are specially made for newbies so that by going through they can get an idea how to start their journey here.

There are many newbies who might think that many of the steemit users have invested crores of dollars here in steemit. Why those users are not providing their vote to all the good contents and why they are not voting regularly to many of the quality contents. What is the limitations or is there any limitations to them even for those who invested a lot in this platform? Those who have many such questions are going to get the solution and detailed explanation of these questions by this series of Voting Power related tutorials.

What is Voting Power?
We who work on Steemit have Steem Power (SP) in our wallets. On the power is more than the reward with booting will be more. This is very normal calculation but you can't just vote for many in one day. Because every time you vote, your voting power is decreasing and you have to give time to refill this voting power.

That means if you maintain a certain number of votes per day then your voting power will remain intact but if you continue to vote continuously, your voting power will decrease. That way, one day it will become empty and then you will not be able to vote even if you want to. In that case, you have to wait because voting power basically increases with time. The voting power will decrease if you vote i.e. every time you vote your voting power will decrease a little and when you wait i.e. give time (abstain from voting) then your voting power will slowly refill or fill up.

Now it is important for us to know how much our voting power will be refilled if we wait and how much percent voting will reduce our voting power. And if we can understand this calculation then we can earn much more (ie maximum) in curation rewards by voting. The fun is in working anywhere by knowing the basics of any platform because you efficiency will be maximum from your effort then. So let's take a look at the calculations in the next post.


CONCLUSION

I am trying to share the details of Steem Blockchain in simple language in a consistent way as a collection so that anyone can easily know the details about this blockchain in one place. Those who newly want to work in the Steem blockchain can easily access to this world of Steem blockchain by studying the basics of steem series from here.




DISCLAIMER

I have already shared similar tutorial in Bengali language in আমার বাংলা ব্লগ community. This post is not shared under Self Plagiarism but shared on this platform for educational purpose to maintain tutorial archive. Basically, Steem tutorial series posts are for the newbies in the Tron Fan Club community those who want to know about Steem Blockchain. Hopefully, they will find Steem basic tutorials sequentially at a single place. You can find here the post already shared in another language.





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Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
image.png
please click it!
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(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)

The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.

Another beautiful post in this series really educative as it regards what voting power is on steemit

This is an interesting post explaining voting power on steem.

Thanks for sharing with us vai