Steem is a decentralized blockchain-based social media platform that allows users to create and share content, and also earn rewards for their contributions in the form of STEEM tokens. The platform has been operational since 2016 and has a large community of users.
The price of STEEM has seen significant fluctuations over the years. At the time of my knowledge cutoff in September 2021, the price of STEEM was around $0.5 USD. However, cryptocurrency prices are highly volatile and can fluctuate rapidly in response to various factors, including market demand, investor sentiment, and regulatory changes.
It's important to note that investing in cryptocurrencies is highly risky and should be done with caution. It's important to do thorough research and consult with financial professionals before making any investment decisions.
In addition to earning rewards for creating and sharing content, Steem users can also earn rewards for curating content. This means that users can earn STEEM tokens by upvoting and promoting quality content on the platform.
Steem also has its own ecosystem of decentralized applications (dApps) that are built on top of the blockchain. These dApps can range from social media platforms to online marketplaces and gaming platforms. Some popular Steem-based dApps include Steemit, DTube, and Busy.org.
However, it's worth noting that Steem has faced some controversy and challenges over the years. In 2020, there was a controversial hard fork of the Steem blockchain that led to a split in the community and the creation of a new blockchain called Hive. This split was due to disagreements over governance and control of the platform.
Despite these challenges, Steem remains an active and popular blockchain platform with a passionate community of users. As with any investment, it's important to do your own research and carefully consider the risks before investing in STEEM or any other cryptocurrency.