Thank you for attending the lecture in Steemit-Crypto-Academy & doing the homework task-7.

> Therefore, the approximate value of Steem tokens that will be minted between 2021 - 2031 will be 293.3 STEEM.

That's correct.

What would be thee implication of the reduction ininflation rate and subsequent Block rewards.

Please refer to this table. I have made this calculation on the basis of reducing inflation rate(0.01% every 250,000 blocks or in other words, 0.01% reduction at every 8.68 days). I have extracted the YoY figure for simplification.


![block_reward.png](https://cdn.steemitimages.com/DQmY4nXrtP2nS5woKAppctCb6sfnVpkhk9Q1XpGwdGqb5aD/block_reward.png)

March-2021- 391.8 Millions
March- 2031- 685.0 Millions

Difference= 685-391.8= 293.2 Millions approx

**So 293.2 Million will be the new supply of STEEM tokens on account of inflation from 2021 to 2031.**

The average rate of new STEEM being minted per year in the first 10 years= 29.3 Million per year

March- 2036- 774.02 Millions


The average rate per year= 17.8 Million.

The average rate from 2037 is further going to reduce to 8.64 Million

**Implication:-**

- The current reward pool size is 29.3 Million per year with total virtual supply 391 Million.

- 2021- SP to exercise is less(as the virtual supply is only 391 Million), and the reward pool is more- 29.3 Million per year

- 2031- SP to exercise will be more more(because the virtual supply will be more- 685 Million), and the reward pool will be less- 17.8 Millions

Therefore if you are getting an upvote value of X amount in 2021(with a reward pool of 29.3 Million new supply of STEEM, 391 virtual supply), then it will be reduced drastically in 2032(with a reward pool of 17.8 Million new supply of STEEM, 685 Million virtual supply). It is further going to reduce from 2037 onwards.

> My recovery account is Steemit Inc. as noted by the professor that you will have your recovery account to be Steemit Inc. 

Actually your recovery account is @steem. Steemit Inc is the owner of that account(@steem).

> The message was successfully sent and the receiver needs his/her Master password or Memo key to decrypt the memo-tag. 

That's correct.

Ideally, it should be the Memo Key to encrypt or decrypt the message. But at the moment it is not fully implemented yet. So for the time being, you can send an encrypted message using the Master Password and decrypt it using Memo Key/Master Password.

However, I would suggest not to send an encrypted message for fun. If it is really a requirement for you then only you should carry out this operation. The point is that you should avoid using a highly sensitive key like Master Password, and that should be kept safe, offline. Frequent use of Master Key should be avoided.

Thank you.

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**Homework Task -7 successfully accomplished.**
**[6.5]**