Hello Steemians,
I Sincerely thank God Almighty, who has See me so far to this last stage of my achievement post.
Actually steemit, has two type of voting which are Up Vote, and Down-Vote. Steemit is just like any other media platform that is build on Blockchain Technology that uses Up vote to reward original content. And also use Down Vote to for a content that is in-relevant to Steemit.
When you upvote a post with your SP, you earn curation rewards, this is a portion of the total payout of the post you voted on. Authors get 50%, curators get 50%.
Here is and example of curator reward, and Author Reward from my account below.
The more SP you have, the more curation rewards you earn because your vote is greater. Having SP also gives you the power to vote for the witnesses who oversee the blockchain.
Is a power which can be transmitted or inherited. When you reach the point 500 SP, you will notice a slide bar appears before you cast a vote. That’s your voting mana. You can slide and adjust your voting weight from 1%-100%.
You already know that the curation reward and author rewards are split equally (50/50). But if the curator votes at the moment of posting, the curator will not receive any reward. The 100% of the reward will remain at the reward pool.
Let me explain to you how come. This happens because the split of the curator reward received in the first 5 minutes is calculated base, on the time of the vote cast. If the curator votes after a minute of posting, the curator will receive 20% of the curation reward, why 80% will be for the reward pool.
From the above table it shows that;
- At 2minute after post published 40%
- At 3minute after post published 60%
- At 4minute after post published 80%
- At 5minute and later after post published 100% it goes to the curator.
So it's important to check a post before casting a vote.
I haven’t come across many witnesses in this platform but currently I have only use steemit tools https://steemworld.org, and https://www.steemyy.com.
To look at my account details these tools is very help to me. And this applications, is developed by @steemchiller (/@steemchiller) and @justyy (/@justyy), my vote will be for them.
Currently I have joined so many communities. At first when I became a Steemians, I joined the newcomers community to start with the achievement1 post. Which talks about my introduction. It really helped me to get to know this platform better and how it works.
Then I joined Steemblog, Steeming curators, and steem africa for more updates on Steemit. And also I posted most of the diaries in Steeming curators.
Just recently I joined communities like steem Nigeria, writing & reviews, APPIC, world of sport, news and SteemFoods.
Below is the list of communities I have joined.
I’m interested in participating in contests so by these communities there were really interesting contests organized. So I joined these communities to participate and I really enjoyed the experience I have gained from them.
My VP starts at 100% (as a new user), then starts depleting at a rate of 2% with full weight. When my VP is 100%, it will be 98% when anyone vote my post with 100% weight. Similarly, for the next vote, it will consume 2% of 98%, so the new VP will become 96.04%, then it will become 94.11% with the next full upvote and so on. Once I have achieve 500 SP, a slider will appear to adjust my voting weight.
My VP recharge by 20% every day. That is why it is recommended for me to keep my VP above 80%. This is for optimum utilization of VP and SP. As such there is no such restriction at the Blockchain level, someone can go on voting any number, but if VP will reduce the upvote value I will also reduce. So for effective management of SP and VP, it is suggested for me to stop voting when it reaches 80% and allow it to recharge before I can officially start voting again.