I was telling someone about Hive/Leofinance and Proof of brain, and they asked me why am I being paid? I told them I get paid for creating content, and the payment comes from upvotes from curators. They asked if it’s free money, I thought for a second, and said depending on how you see it. As a curator, if you consider getting incentives while curating a free money, that’s okay. But as a content creator I doubt it is considered free money. Because your brain is at work. The community and platform just makes it much more convenient and easier for you to get paid while you are at home or wherever you are creating content. This is another good way to earn through crypto because the world is evolving and adopting crypto.
Now the communities work with what is known as DPOS(Delegated Proof Of Stake) which is a part of POS (Proof of Stake). The old method of earning through crypto was POW(Proof Of Work) which is one sided and rewards only the miners. POS AND DPOS rewards all participants involved when you own a token and stake it. The difference between POS and DPOS is the D which means(Delegated). Blockchains that work on this mechanism depend on the reputation based voting to achieve general agreement. Different DPOS-based blockchain network has their own voting system. Voters get financial incentives and these incentives are as a result of shared block rewards.
These are new technological algorithms the world is adapting to. For the Hive/Leofinance and Proof of Brain community, the incentives are shared amongst the two parties involved which is certain percent goes to the author and certain percent goes to the curator. Now the curator needs the author and the author needs the curator. The author can’t earn if there are not content to upvote, but can earn some % APR for staking. The author can’t earn if he doesn’t create content and get upvoted.
He got he clearer understanding and he said “that means it’s not free money”. Of course it’s not free money, your brain works for you , hence the proof of brain token. In the community you are a blogger and everyone participating in the voting of your content get incentives. It’s a win-win for both parties.
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Money is a social construct. It can be whatever we believe it to be. This is the evolution of social media and ecommerce. If you choose to upvote this comment, I will send you some pizza token.
You took the words off my mouth. I was just discussing with my friend how money is a social construct.
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Thanks a lot. I appreciate
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STOPThen there only remains one question: Where does the money come from?
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The blockchain technology rewards. Which is an acceptable societal construct
Initially many can think that it's a free money but after your explanation in this post anyone can understand about the difference between delegated proof of brain and proof of brain differences. it's really important for any of the users to understand about the curation & author and how this author reward is generated. very important and helpful artical on the rewarding system of Hive and leofinance. thank you very much for sharing such a useful article and i am reblogging it.
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I look at it through the scope of artificial scarcity. The content you create is published on this platform. There's a certain exclusiveness where this platform is a unique source to find your content. The value of your work is exchanged for Hive and tokens which are also finite and artificially scarce due to only a certain amount being created every n number of blocks in time.