Founders: Ned Scott and Dan Larimer
Release Date: 03/2016
Limit: STEEM 266,164,439
Current Price: $ 4.57 / steem
Rank: 26
Market capitalization: $ 1,139,552,431, equivalent to 127,848 BTC
Total transaction volume in 24h: $ 62,074,900.
Transactional support floor:
STEEM was most traded on Upbit (STEEM / KRTC accounted for 88.99%, STEEM / BTC accounted for 3.35%), Bittrex (STEEM / BTC accounted for 3.97%), Poloniex ....
STEEM price history from the floor.
On 18/04/2016 STEEM is trading at $ 0.64 / 1 STEEM until 04/01/2018 its price up to $ 7.28 / 1 STEEM
What is STEEM coin?
Steemit is a social networking site based on Blockchain technology. Anyone who posts content is rewarded - whenever someone posts content that is valuable to other users. Steemit runs his blog and social networking site on Blockchain data, called Steem.
Concept
This idea is described in the whitepaper released in March 2016.
The general concept is similar to other blogging sites or other social news sites like Reddit, but the text content is saved in Blockchain. The use of Blockchain allows the awarding of valuable tokens with comment sections and article content. Images can be uploaded and stored on Steemit. Other multimedia content must be browsed from other web servers. For formatting, there is a WYSIWYG edition system. Users can also choose to use the Markdown format with HTML elements.
User accounts can vote in favor of posts and comments, and authors receiving a high number of votes may receive a cryptocurrency token called STEEM and tokens attached to the dollar are called. is the Steem Dollars. Users are also rewarded through the management of popular content. Management includes commenting and posting. The power of voting and rewards when content management is affected by the amount of STEEM Power is held by the voters.
Steemit has a reputation system where new accounts start with reputation starting at 25. An account that receives a vote can affect the reputation rating.
Three major currencies of Steemit
- Steem
Steem is the basic unit of account on the blockchain Steem. All other units Steem dollars and Steem power get their value from the value of Steem. No need for Steem in its Cryptocurrency form, it should be used to buy Steem dollars, Steem power or Bitcoin.
- Steem dollars
Steem dollars (SMD) is a unit used to reward users for posting and hosting content. Each Steem dollar represents Steem equivalent to US $ 1. Steem dollars (SMD) are created so that the user is not affected by the oscillation rate of Steem coin.
SMD is essentially a promise, that when you come to cash out, you will get a positive dollar with Steem of what you earn. The dollar earns interest at 10% per annum.
- Steem Power
Steem power (SP) is a contract signed by Steem and represents the amount of influence that an account has compared to the rest of the network. The more power Steem power accounts have, the higher their votes for posts or comments. Steem power also determines the weight of an account to vote for a witness.
Accounts are created with a small amount of Steem stored as Steem Power. Content creators can choose 100% Steem power instead of 50% conventional currency and 50% Steem power. Users and investors can choose to turn liquid steels into Steem power, called Powering up.
Steem power can not be transferred or traded directly, but the owner of the account can choose to withdraw liquid liquid on a weekly basis at a rate of 1/13 of the total Steem Power account, called Powring Down. The account will be lost by Steem's rate of withdrawal.
How does Steemit work?
In some ways, Steemit is similar to other digital currency. For example, Steemit's currency units can be bought and sold on the open market like all other virtual currencies.
With other secret terms like Bitcoin, real currency units are created every day and distributed to executives of a special Bitcoin software program on their computer that performs a process that is called Bitcoin digging. The amount of computing power
Steemit allows for currency mining, but that is not the main way to make money. Each day, the Steemit currency units are created by the network and distributed to the participants of the site. The more you participate, the more you will receive.
