STEEM & TRON - Steemit Crypto Academy Season 5 Beginners Course - Task 2 - Written by @cryptozahid
Hello, dear steemit users on this platform. I have completed the first Homework task successfully. Today I am writing the post for the 2nd Homework task lectured by Professor @sapwood that is on STEEM & TRON.
Designed in Canva | by @cryptozahid
There are three different questions available for every Fixed Homework Task. For this 2nd task, I have chosen the first part which is about STEEM & TRON. I have read the lecture carefully. Now I am writing the answers to the questions I have selected. I have also added the questions in bold letters below. So, Let's start.
QUESTION (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? How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
✪ What is PoB?
Proof of Brain (PoB) in English means Brain Test. The tool consists of a prize pool (65% of the total prize pool), a community policy, and a weighted participation mechanism (SP). This consensus mechanism has its own rules that are used to correctly evaluate the content generated by our brain and reflected in published publications. PoB assesses the knowledge and mastery of each exposed subject, and on this basis, prizes are received and distributed.
The prizes received are distributed as follows:
65% of the total prize fund goes to the authors and curators. This payment is known as "Post Payment" and is divided into 50% for the authors and 50% for the curators, that is, each one receives 32.5% of the total prize fund.
This consensus mechanism (PoB) replaces the PoW of traditional blockchains, which distribute their tokens among miners using high-performance tools, while PoB distributes rewards to users that add value to the blockchain network.
✪ What does curation mean to you in Steem Blockchain?
For curation, the following things will occur:
- First, the curator must read the publication.
- Then decide how useful or interesting the post is to leave a comment.
- Check for spam or plagiarism content and let the community admin know if any.
- After that, evaluate the benefits or uselessness for himself or the community.
- Choose to use your voting rights or SP if useful and may or may not redeem posts to share with your followers.
From the points above, we see that curation means the curator will read the post, check the post (useful or not, interesting and useful or not). If this post was useful and helpful, you can comment and vote with your SP. It also checks if the post is plagiarized, spam, or not. In such cases, you can flag or alert the community account of the post for appropriate punishment and correction. You can also decide to trade the post to share with your followers, increasing the post's exposure.
✪ What are the benefits of building SP?
Voting power (VP) is determined by the Steem Power (SP) we have, which is a non-transferable token and we accept it as a reward for our posts. Among the benefits we have while building SP are the following:
This gives us influence, hierarchy, and respect within the community, and all of this increases as our voting power increases due to SP building. By having more influence in the community, we will get more followers.
We can build a community and through it, we can provide support to many users in the Steemit platform and thus we can motivate them to stay in and invite many other users who are not.
We understand that the more SP we make, the higher the reward and we can also help other users by voting for the original content they post. Since our reward is higher we will receive more TRX and this is because we receive the same amount of SP and TRX.
We can support not only the community but many users entering the platform.
✪ How do you explain self-upvote as a good or bad social behavior & why?
When a Steemit user upvote in favor of your post, their voting power (which can be used to vote for the posts of other Steemit users) is reduced. Your voting mana is also reduced, causing you to not vote for other people's posts on Steemit. In addition, you will vote for another position with a lower percentage than usual. All of this explains why self-selection is frowned upon.
On the other hand (benefit) of self-voting, when the user chooses a pot of his own manufacture, the claimed prize will be very high depending on the ratio of positive upvotes.
But if a user chooses to upvote on others' posts, they will also vote back. But if you continuously do self voting and do not vote for others, they do not vote for your post. So, in my opinion, self-upvote is not good behavior. Upvote others, get upvotes from others. It will make the social relations.
✪ Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?
To explore the details of Steem, at the first- visit https://coinmarketcap.com/currencies/steem/ Then search for steem and click on suggested steem.
It's showing the details that are-
- Steem price- 0.4835$
- Rank- #320
- Market cap- $190,969,938
✪ What are the different tokens do you earn by socializing in Steem Blockchain?
When we socialize on the Steemit blockchain, we get the following tokens: TRX, SBD, SP, and Steem.
We win Steem by participating in competitions held in communities on Steemit. We also earn Steem by exchanging SBD for Steem and this SBD is earned from post-payment rewards.
We also get some TRX by doing social activities on Steemit. The earning is the same as a ratio of 1SP:1TRX.
In addition, we get SBD by claiming postal prizes which are always accompanied by STEEM POWER (SP).
✪ How would you use your TRX earned in Steem Blockchain to optimize earning in Tron ecosystem?
When a reward is earned in TRX on the Steemit platform, it has many other uses in the Tron ecosystem like the ones shown below.
A Justlend dApp travels. A user can take their TRX and add it to the Group in Justlend dApp. When the user does that, they will earn interest at a rate based on APY Supply and tokens will also be awarded. Said tokens can be pledged and users can borrow different assets available in the Group.
Through the Justswap dApp where you can exchange your TRX for alternative tokens of the same family.
Users can trade their TRX for Sun using Justswap, and get mining rights on Sun.io and notice, SUN-TRX LP offers the highest APY of 73.2%.
TRX holders have the right to vote to elect 27 Super Representatives.
TRX holders can also become Super Representative candidates with a minimum of 9999TRX. If elected, the incumbent has governance rights and receives the 16TRX as a block reward.
I have answered all questions for this homework task 2. I have learned about many pieces of information. I really want to thank professor @sapwood for arranging this great homework task for beginners. Thanks to my steem friends for reading this post.