STEEM internals #9: STEEM Units convertions (part 2).

Today we continue with STEEM Units convertions, see my previous post for part 1. The information put here will be needed to further understand the payment reward system.

Vests to STEEM

Definition

As a reminder, a Vest represents a share in STEEM ecosystem. STEEM Power depends on number of Vests owned by an account. In my previous post I was wondering if a Vest can be called a STEEM equivalent of satoshi (smallest amount of STEEM) but I came to the conclusion that this is not the case. Vests are very small and can be converted into STEEM but they are NOT denominated in STEEM. Vests represent a share in a pool of STEEM.

Vests to STEEM can be converted using STEEM per MVest value. Please refer to my previous post for STEEM per MVest definition and an example.

This is easy to understand once you remember that 1 MVest = 1 million Vests

Example

>>> from steemtools.base import Converter
>>> c = Converter()
>>> c.vests_to_sp(100)
0.034002657095179446
>>> c.vests_to_sp(1000)
0.3400265709517945
>>> c.vests_to_sp(1000000)
340.0265709517945

Notes

Understand the convertion in this way: more share in Vest relates to more STEEM Power and more influence.

STEEM to Vests

Definition

STEEM to Vests is a reverse operation to the previous one, used during powering up. Since it is a reversed operation it can be achieved with:

Example

>>> from steemtools.base import Converter
>>> c = Converter()
>>> c.sp_to_vests(100)
294094.66360256
>>> c.sp_to_vests(1000)
2940946.6360256
>>> c.sp_to_vests(1000000)
2940946636.0256

Notes

Understand this as a number of Vests that you will receive when powering up.

STEEM Power [STEEM] to Reward Shares

Definition

Important to understand voting. This is one of the values that is a prerequisite to calculate the reward payment and it represents a number of Reward Shares that a vote will bring to the post. The formula requires the number of STEEM to Vests, then it calculates number of reward shares from the yet unchanged voting power algorithm (see my post about voting power for the explanation.

First, calculate how much voting power is left (a reminder from a previous post):

and number of reward shares is equal to voting power times number of Vests owned by an account

Example

>>> from steemtools.base import Converter
>>> c = Converter()
>>> c.sp_to_rshares(100)
1499882784.3702
>>> c.sp_to_rshares(1000)
14998827843.7275
>>> c.sp_to_rshares(1000000)
14998827843730.56

Notes

Since VESTS and Reward Shares are a fixed digit number the calculations divide the number by 10000, the Converter module makes this automatically for you (see steemtools source code).

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In my next post from the series I will try to decompose the post payment reward system against a real example. I have seen the payment source code and a few descriptions already. The algo is complex though and it will take me some time to write the post. I will do my best to publish it this week.

DISCLAIMER: THE INFORMATION IS DELIVERED FREE OF CHARGE AND 'AS IS' WITHOUT WARRANTY OF ANY KIND. I HOPE IT IS ACCURATE AND FREE OF ERRORS AND YOU FIND IT USEFUL.