Understanding What is a Steem Token (STEEM) and Steem Dollar (SBD)

Welcome and cordial greetings to all new member #steemit.. ,,, !!

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Hello all friends who are still active in #steemit.ic dapp ,,

I'm @good-darma from Indonesia ..

Here is a little of my review of steem & sbd

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What is Steem Token (STEEM) and Steem Dollar (SBD). The social media space has become a dynamic one lately. The social media platform has now been woven into our daily lives. People like Reddit, Twitter, Facebook and Instagram are gaining popularity every day.

News and content are shared more quickly on this platform than any other news channel in the world. This platform is also attractive for people who want to get involved with their colleagues from all over the world. As a result, Steemit revolutionized the world of social media and networking by using the STEEM blockchain next to the unit.

Users on this platform are given awards for their contributions. Contributions can be in the form of content, likes and comments and discussions on various topics.

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Understanding the STEEM Token Network Platform

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Many users find it difficult to understand the concept of the Steemit network platform along with its blockchain and reward system. It is important that we clear this widespread confusion.

Steemit

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Steemit is the platform itself, in other words, it allows users to create and manage content, and you can see it as Reddit. This platform was launched in 2016; However, he has witnessed tremendous growth in the user base. Users are rewarded for content that they post on this platform in either Steem Dollars (SBD) or Steem Power (SP).

Steem Token (STEEM)

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STEEM, on the other hand, is the blockchain that moves the platform. Actually, this is the basic unit that determines the value of all other units in Steemit. As mentioned above other units consist of Steem Dollar and Steem Power. STEEM is not really a currency, although it is more or less the gateway between Steemit (platform), and platform currency (Steem Dollar) and even the common currency (Steem Power).

Steem uses the Smart Media Token, which is the original digital asset on the Steem Chainchain. They are similar to ERC20 Ethereum tokens, but combine a special ‘Proof-of-Brain’ property along with a token gift distribution system developed for digital content businesses. Token Steem (STEEM) can be traded and can be converted to Bitcoin or Ethereum.

Steem Dollars (SBD)

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Users are given an award for their contribution to the Steemit platform in this cryptocurrency unit called Steem Dollar (SBD). This is connected to the dollar and basically represents Steem equivalent to one US dollar. It's important to note that SBD is not fixed; Instead, they fluctuate depending on current conditions in the market. They usually get 10% interest per year. SBD can be converted to STEEM, exchanged to STEEM on the internal market, in addition to being exchanged on various exchanges such as Bittrex or OpenLedger DEX.

Steem Power (SP)

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This currency cannot be traded on an external exchange; however, this can be referred to as an internal "currency" in the Steemit network. Investing in Steem Power (SP) can be seen as acquiring a stake in STEEM. This offers various benefits for Steemit users, for example, they get direct shares in the Steem prize pool, besides, their voting power increases which can mean that users can choose to increase the rewards of authors including themselves.

The conclusion

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STEEM is a determinant of the value of appreciation in the Steemit ecosystem. In addition, there is also proof of stock for users holding Steem Power (SP). Steem Dollar (SBD), on the other hand, provides stability of other currencies on the platform.

Only a few reviews from me about steem & sbd.

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(279) Madein By @good-darma Sabtu Tanggal 22 Februari 2020 Pukul 17:53 wib

Thank You !!!

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Stay loved and keep working... Life is very cruel!

Amazing stay, enjoy the rest of your day. I'm @good-darma !!!! Don't see low prices, five years later to do moon.

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Darmawan

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