Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: STEEM & TRON by Professor @sapwood
Hello steemians, hope your day is great. It's another week for steemit crypto academy, and going through the lecture of @sapwood on STEEM & TRON makes a lot of sense. Now is the time to do my homework task 1.
Task 1: 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?
What is PoB?
PoB (Proof of Brain) is a token system that rewards users for original content, and this reward is distributed to the author and curation (This type of pool is known as rewards Pool) on Steem. We can also say Proof-of-Brain (PoB) is about community consensus over good content value.
PoB can also be described in the Steem blue paper showing two properties as shown below:
(1) A kind of Pool of tokens that is dedicated to incentivize good content creation and also curation which is called the "rewards pool".
(2) A kind of voting system that leverages the wisdom of crowds to appraise the value of this content, and also distribute tokens to it.
What does curation mean to you in Steem Blockchain?
I have never thought of this question before thanks to the crypto academy I hope I answer it well. I will say curation or curator means someone who curates content written by others people on Steemit by reading and voting (if it is good content) them, depending on the quality of the post too, they might increase the percentage of the upvote. And the curator gets a reward or earns a portion of the income generated, so if he/she curates 50 posts, he/she gets rewarded for the 50 posts which are called "curation rewards".
What are the benefits of building SP?
First of all what is SP (Steem Power) is a measure of how much influence you have in the Steem network. That means the more SP you hold, the more you can influence a post value and also comments. We should also know that SP (Steem Power) is less liquid. Anytime you wish to “Power Down” your SP, you will receive an equal amount of STEEM weekly, for over 13 weeks. So some of the benefits of holding SP is as stated below.
(1) The tokens give you more power over post payouts and also allows you to earn more on curation rewards.
(2) You can also delegate your SP. This means that you donated SP to steemian to help them carry out some actions on steemit.
How do you explain self-upvote as a good or bad social behavior & why?
I will say it is not a good social behavior
First of all, what is self upvote? It means, that an author or a content creator voting or curating his/her own post.
Like I mentioned earlier in this post Steem uses the PoB, it is not good for an author to curate his/her post because I cannot give my own work a low rating even if it is not a good post, which means everyone doing this is biased. It also disagrees with discovering good content. The temptation makes self upvote looks good and to people because of the supposed addition on our vote count. But overall it does not promote good content.
Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
The screenshot below was done at the time of writing this home please check below:
The steem rank on coinmarketcap.com as at the time of this homework is #279 on coinmarketcap as seen below
For Steem Price as at the time of this homework is was $0.1963 on coinmarketcap.com as seen below
And for Steem coinmarketcap it is $77,094,138 as seen below
So from the information stated above on the screenshots steem rank = 279, steem Price = $ 0.1963 and also Coin Market Cap = $ 77,094,138
What are the different tokens do you earn by socializing in Steem Blockchain?
It is the reward token that first draw me to steemit back then even thus I like writing, I found out that steemit was different because of it reward to token which I will talk about below.
(1) Steen Coin
The first is Steem coin is the native crypto token that is running on the steem blockchain. Where developers of different web applications can generate Smart Media Tokens (SMTs) as the native digital assets to build incentives for you to partake in the platform and also help it grow. So you get steem coin as a reward when you write good content.
(2) Steem Power (SP)
Well, I will say that Steem Power (SP) is Steem that is vested or locked in, this means that it cannot be withdrawn immediately withdrawn for spending. And as said earlier it gives you influence on Steemit, which is more money for you and the authors you upvote and you earn higher curation rewards.
(3) SBD (Steem Dollar)
SBD is a liquid stable-value money token, which you can trade with STEEM and also transfer to another account for exchange. You can earn sbd when you set your post reward to 50%, 50%, so the author gets 25% and 25% steem power. SBD can be converted into Steem coin can be used.
The TRX is a token on the Tron Blockchain, and you can now earn TRX, when you write good content on steemit for every ratio of 1 SP you get 1 TRX this is posible because of the partnership between Steem Inc and Tron in the year 2020.
The steemit platform is one of the best when it comes to earning from good content, especially the reward package as discussed before, and it is also one of the best decentralized Social media blockchains. Since the collaboration of Tron, it has gained more followers.