Is STEEM Coin Worth Investing and What Is Its Prospect?

STEEM coin introduction

Steem Coin is the digital currency of the decentralized social media website Steemit, also known as Steem Coin, or STEEM Coin for short. Released on March 24, 2016, the total supply is 353,626,434 STEEM.

Steem is a blockchain database that supports community building and social interaction through cryptocurrency rewards. Steem combines social media concepts with lessons learned from cryptocurrency and its community building process. An important key to incentivizing people to participate in a community, currency or free market economy is a fair accounting system that consistently reflects everyone's contributions. Steem is the first cryptocurrency that attempts to precisely and transparently reward an infinite number of individuals who make a subjective contribution to its community.

Steem is an open source blockchain protocol capable of storing social information and distributing tokens based on the Proof-of-Brain algorithm. As the world's fastest transaction speed and largest transaction volume blockchain, Steem can support multiple blockchain protocols for user-oriented applications, including busy.org , d.tube, dlive.io, steemit.com, dsound. audio and more.

Like many cryptocurrency issuances, Steemit is also based on blockchain technology. Steemit uses a cryptocurrency called Steem to reward users who upload articles, pictures, and comments. In addition, popular content voting is also one of the ways to get rewards.

Newbies in the digital currency space can post on the social media platform Steemit if they want to get Steem. The platform will calculate the number of positive comments posted and give users a certain Steem reward. Steem coins (STEEM) can also be used to initiate "Steem Power", exchange SBD on the internal market, cancel orders, trade BTC or other digital tokens, and purchase items through third-party stores.

Steem has some advantages over Bitcoin. First, Steem’s transaction fees are very low, which can be favored in the micropayment space, while Bitcoin’s price is exorbitantly high. Secondly, it is more efficient to process transactions. Steem can have thousands of transactions per second, which can handle high concurrent transactions well. In addition, Steem's transaction confirmation time can be measured in milliseconds, but Bitcoin's transaction confirmation time is as long as ten minutes.

Steemit founding team and background:

Steemit is a social media platform founded in early 2016 by Ned Scott and Daniel Larimer (BM). The identities of these two founders deserve attention. Ned Scott worked at the family business Getler; and Daniel Larimer is the founder of BitShares BTS and EOS.