Steem is clarified as a central unit of record on a stage called Steemit. Steemit is a Blockchain-based stage where clients can distribute content and decision on it like on each and every other web-based media stage, yet with the distinction that on Stemmit, they are compensated with tokens.
The Steem network gives new Steem units to distributers and citizens consistently. Steem can be traded either on Steem Power (SP) or Steem Backed Dollars (SPD). Steem Power is a token used to upvote content, which assists with getting an income both for a citizen (in SP) and for a distributer in (SPD) proportionate to the amount Steem Power the elector has. Steem Powered Dollars address a measure of Steem equivalent to 1 USD. SMD assists with shielding content makers from the instability of the Steem digital currency by promising them that theyll get a decent measure of cash, regardless of the amount Steem will cost when they cash out.
