What is a steem?
The Steemit coin is a type of cryptocurrency (cryptocurrency or cryptocurrency) used to power the Steemit platform - the Blockchain social media platform. Users create and post their content on Steemit like other news platforms such as Reddit or Hacker News and are awarded by Steem for their work.
History of virtual currency Steem
The project was founded in 2016. Ned Scott goes to Dan Larimer, the maker of BitShares. The two founders of Steemit Inc, which launches the Steemit website and funds the development of this cryptocurrency platform. On March 15, 2013, Dan Larimer announced his resignation from the company. 3 major Steemit currencies
- Steem
Steem is the base unit of the above Steem blockchain account. All other Steem Dollar and Steem power units derive their value from the Steem value. There is no need for Steem in the form of cryptocurrency, it should be used to purchase Steem dollars, Steem power or convert to Bitcoin (See more: What is bitcoin).
- Steem dollars
Steem Dollars (SMD) A unit used to reward users for posting and posting content. Each Steem dollar represents the amount of Steem equivalent to 1 US dollar. Steem Dollars (SMD) are designed so that users are not affected by the oscillation rate of a Steem coin.
In essence, SMD is a promise that when you come to withdraw cash, you will receive the equivalent in US dollars on Steem of what you earn. Steem Dollar Earn 10% Percent Annually.
- Steem Power
Electric Power (SP) - Steem, which was signed in a smart contract and is an impact that has an account for comparison with the rest of the network. The more Steem Power accounts, the greater their impact on voices or messages. Steem power also determines the weight of the bill for voting for witnesses.
Invoices are created in a small amount of Steem Stored as Steem Power. Content creators can choose a reward with 100 percent Steem power instead of 50% normal currency and 50% Steem power. Users and investors can turn Liquid Steem into a Power Steem called Powering up.
Steem capacity is non-transferable or direct transactions, but the account holder may choose to withdraw liquid Steem liquid on weekly payments at a rate of 1/13 of the total capacity of the Steem account, called "Destroy Down". The account will lose its right in the amount of the revoked Steem.
How does Steemit work?
How Steemit works
In some ways, Steemit is similar to other digital currencies. For example, Steemit currencies can be bought and sold on the open market, like all other virtual currencies.
With other secret terms like Bitcoin, actual currencies are created daily and distributed to those who run a special Bitcoin program on their computers, which runs a process called Bitcoin Mining. The amount of computing power
Steemit is allowed to be mined, but it is not the main way to make money. Every day, Steemit currencies are generated by the network and distributed to people who join the site. The more you join, the more you get.
Steem Coin virtual currency trading, which to exchange?
The Steem gift coin has been listed on some reputable exchanges such as Bittrex, Poloniex, HitBTC, OpenLedger DEX and Tidex. Inside, Bittrex Flooring has the largest volume of Steem trading, as well as the largest trading platform for communities.