Crypto Academy Season 3 Beginners' course - Homework Post for Task 1: by @ghulamabbassss

5개월 전

Hello Everyone! Professor @sapwood, thank you for the class and for imparting knowledge that assisted me in completing this work.

Let's Start

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 ?

The distribution of author and curation rewards on Steem is known as Proof-of-Brain. Stated to be based on "proof of brain," as in the community deciding to reward authors based on the value of their content and the author's "Proof of brain."The Steem blockchain's blockchain consensus mechanism, Delegated-Proof-of-Stake, has to do with Proof-of-Brain (DPoS). Both are on completely different topics. Other blockchain consensus algorithms include Proof-of-Work and Proof-of-Stake.
It's a system in which the contents must be unique and original, and it's a way to recognise and reward the effort that goes into creating unique information.

The prizes are split between authors and curators, with the amount of SP influencing how they are distributed. The author said that "More (SP )equals more influence power".The authors and curators are rewarded through a pool of reward. The reward pool is split 50/50 between the writers and curators, resulting in 32.5 percent of the overall reward pool going to the authors and another 32.5 percent going to the curators.

So, Proof-of-Brain refers to the reward pool, the stake-weighted system of influencing power used to divide the reward, and the people' independent knowledge used to determine good/bad content .

What does curation mean to you in Steem Blockchain?

For me, it's the Steem blockchain. The curator distributes curation to content creators (writers) to encourage them to post more high-quality content on the steem platform.Curation on the Steem blockchain is a well-structured process that begins with reading a post, analysing the quality of the material and its source, and interacting with the post in the form of insightful comments that add value to the article or help you answer any questions you may have. It also includes resteeming the post and upvoting the post with your steem power. For the good of the community, it also includes downvoting plagiarised or spam content. As a result, it is a powerful instrument in the hands of individuals, allowing us to assist one another as well as the community.

Upvote

The upvote is represented by a green upward pointing arrow; when we upvote, we are simply sending tokens from the reward pool to the content creator (author).

Downvote

When we downvote, the red downvote facing arrow indicates that we are reclaiming the rewarded tokens for the reward pool of the content we are downvoting.
The number of votes a curator can cast is determined by the amount of Steem power (SP) he has in his account. Both upvotes and downvotes have a limit, so let's go over it.

What are the benefits of building SP?

Steem Power is a sort of influence that gives you the ability to distribute tokens from the reward pool.; the more steem power you have, the greater your influence power.

Here the Benefits

  • It provides us with additional power.

  • Influence on the ecosystem's and community's construction and maintenance.

  • Increased influence over the community's content.

  • When curating content, you have more voting power.

  • The more SP we have, the more voting power we will have.

  • It gives you more control over your reward pool.

  • Curating content from 32.5 percent of the reward pool gives you more reward power.

  • Increased influence leads to an increase in the number of followers.

  • Curation rewards with more control.

  • You have a say in how POB prizes are distributed.

  • Because of the key curation reward, TRX will be given at the same rate as SP.

  • Eventually, you will attract people, and some of them will follow you.

  • Because more SP equates to more attraction, the reward system will favour you more.

  • Influence in the development and upkeep of the Blockchain Blog system.

  • Influence the prize for Proof of Brain.

  • Interests earned based on your SP win you more rewards.

How do you explain self-upvote as a good or bad social behavior & why?

It is quite beneficial to cast our votes in favour since, in addition to supporting high-quality content, we will receive a portion of the prizes that will be cancelled when they expire, as I said before. However, we must be conscious of the daily votes we can cast and allow ourselves to be regenerated, because the lower the proportion, the less voting power we have.Self voting, in my opinion, is not a good social behaviour because it is not good to judge your own work and assign grades; PoB is judged by others, not by yourself; we should not vote our own content because it may be bad and deserving of downvotes; however, if I0000 self votes, it is not fair to other users and makes it difficult for other users to find good quality content.

Explore Coinmarketcap.com to indicate rank, STEEM price, and coinmarketcap of STEEM(screenshot required)?

I saw different stats of the steem token after opening the Steem currency page on coinmarketcap. The current and real prices of the Steem token coin on the Cryptocurrency market are displayed in the Coin Market Cap. The following are a few of them.

IMG_20210826_161718.jpg

Price of Steem : $0.5723

IMG_20210826_162149.jpg

Rank: #184

IMG_20210826_162502.jpg

Market Cap: $2,016,932,245,507

Click here for visit

What are the different tokens do you earn by socializing in Steem Blockchain?

When Steemit first launched, the tokens that could be obtained by socialising were SBD, STEEM, and SP, with STEEM being the platform's liquid currency. However, with the formation of an alliance between Justin Sun and Steemit, the TRX token was added to the platform, and now, in addition to the natural tokens that are received in Steemit, we can also add the TRX or TRON currency to our wallet.

Here is detail

IMG_20210624_090139.jpg

Steem Token

IMG_20210624_085227.jpg

Steem Power (SP)

IMG_20210624_085239.jpg

Steem Dollar

IMG_20210624_085213.jpg

TRX

Thanks for your time

Regard by

@ghulamabbassss

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Hello @ghulamabbassss , I’m glad you participated in the 1st task of the Beginner’s class at the Steemit Crypto Academy. Your grades in this task are as follows:

CriteriaRatings
Presentation / Use of Markdowns1/2
Compliance with topic1.5/2
Spelling and Grammar1/2
Quality of Analysis1/2
Originality1/2
Total5.5/10



Observations:

Market Cap: $2,016,932,245,507

This is wrong. What you presented is the entire marketcap of the crypto market. However, you can calculate the marketcap of an asset by multiplying the current price of the asset to the total circulating supply of the asset.

Recommendation / Feedback:

  • The student have completed the assignment for this lesson.
  • The student also answered all the questions in his/her own words.
  • Your overall presentation is good.i But you need to improve your writing skills by working on your markdown styles.
  • In the last question, i expected you to explore more.

Thank you for submitting your homework. task 1. We hope to see the rest of your submissions.