Steem (STEEM) Coin, what is it?
Steem (STEEM) is a community-focused blockchain that offers instant earning opportunities for its users. STEEM is the native token of this blockchain. Essentially, STEEM serves as the primary cryptocurrency of the blockchain protocol. Designed as a social blockchain, Steem boasts a strong ecosystem and enables trading in the markets as a cryptocurrency.
Steem (STEEM) Project and Whitepaper
According to the technical paper of Steem, it emerged as a social blockchain solution that grows communities and rewards them for sharing content, providing an income stream. Being the only blockchain that empowers real applications through social applications like Steemit is a prominent goal of the project. Fundamentally, it has a community-focused structure that offers instant earning opportunities for network users.
It is designed to provide users with a platform where they can publish content under curation and receive payment in cryptocurrency. A key detail highlighted in the technical paper is its open, incentivized blockchain that allows users to interact with each other and earn rewards in return, aiming to provide value and enable users to benefit from both social media and cryptocurrencies. To access the technical paper of Steem (STEEM) and easily find all the details about the project you are curious about, you can use the official link address: https://steem.com/.
Who are the Founders of Steem (STEEM) Coin, and Which Country Do They Belong To?
Steem (STEEM) was initiated by Ned Scott and Dan Larimer, who launched the first application on the Steem blockchain under the name Steemit. Apart from being based on a blockchain application, it is similar to other social network platforms. This decentralized and unsupervised application, launched alongside the blockchain application, is designed to address common data issues seen in traditional social media platforms. Dan Larimer, who co-founded Steem alongside Ned Scott, served as the CTO until he left the company in 2017.
Although it is community-focused, one of the prominent figures behind the project is Ned Scott. Scott, who served as a financial analyst at Gellert Global Group from 2012 to 2015, has undertaken several successful roles. Another prominent figure in the project is Dan Larimer, a successful software engineer and serial entrepreneur who has been involved in blockchain technology, DEXs, and cryptocurrencies since the early days.
What Makes the Steem (STEEM) Project Unique?
The unique feature that sets the Steem (STEEM) project apart from its competitors is being the only blockchain that can empower real applications through applications like Steemit. Additionally, after the removal of Proof of Work mining, STEEM stands out from its counterparts by not being a mineable cryptocurrency. Some other key features that highlight the project include:
- Facilitating rewards for users for valuable contributions to the platform.
- Being based on blockchain technology and being the only one of its kind.
- Not being centralized and under supervision.
- Unlike other blockchains where new coins are obtained through mining, a large portion of STEEM is distributed to the reward pool, which then distributes tokens to users based on their contributions.
Alper ÖKSÜZ