Steem

Steem is a community-focused blockchain that creates an instant earning opportunity for network users. The protocol is designed to provide customers with the opportunity to earn money depending on their value to the network. It is designed to provide users with a platform where they can post curated content online and get paid in cryptocurrency.

The protocol is a public blockchain database that allows users to interact with each other and earn in return. It uses both social media and cryptocurrency technologies to deliver value to users. The network ensures that members are treated fairly by using a reward structure that reflects each user's contribution.

Steemit is the first app built on the Steem blockchain and launched on July 4, 2016. The goal of the protocol is to deliver value to the user community in the following ways:

Ned Scott, along with blockchain developer Dan Larimer, launched the first application on the Steem blockchain called Steemit in January. The app is similar to other social media apps, except that it is based on blockchain technology, making it decentralized and non-custodial. The web lacks the common data-related challenges faced by traditional social platforms.

Ned Scott worked as a business operator and financial analyst for the American food import company Gellert Global Group from 2012 to 2015. He met Dan, his partner, in 2015, where he learned that they had common interests.

Dan Larimer is a software engineer and serial entrepreneur passionate about blockchain technology, DEX, cryptocurrency, and more. Dan co-founded Steem with Ned Scott and served as CTO until he left the company in 2017.

Many traditional social networks have made a lot of money from content created by their users. However, what sets Steem apart is the support it offers to its users, rewarding them for their valuable contributions to the platform.

One of the unique features of the network is that it is based on blockchain technology, making it the first of its kind. As a result, it is storage-free and decentralized, with no downtime or data abuse, and the platform data is also completely secure. In addition, users are paid in cryptocurrencies for participating on the platform.

Steem is guided by one key principle: those who contribute to the enterprise should be paid by the owners, as startups do by distributing shares during funding rounds. Another core belief is to serve members of your community by providing various financial services and opportunities.

Unlike other blockchains where new coins are created through mining, Steem allocates the bulk of its coins (STEEM) to a reward pool. STEEM is the main coin of the protocol. The pool distributes tokens among platform users based on their input.

The price for today is ₽24.29. with a daily trading volume of ₽664,826,191 We update our STEEM price to RUB in real time. Steem is down 33 in the last 24 hours. The current CoinMarketCap rating is #327 with an income capitalization of ₽9,592,307,024. The circulating supply is 394,951,699 STEEM coins and max. no offer

Witnesses (accounts that create blocks) add new blocks to the Steem blockchain every three seconds. Thus, STEEM is produced daily by the network, and new coins are distributed as follows:

-Curators and content authors receive 75% of the new coins created.

-Users with Steem Power assets (another Steem cryptocurrency) are allocated 15% of the coins.

- The remaining 10% is awarded to witnesses.

-Two other cryptocurrencies besides STEEM are Steem Dollars (SBD) and Steem Power (SP).

After the company was bought by Justin Sun, the founder of the Tron platform, there was a restructuring of Steem activities. Therefore, new blocks are no longer created through mining, and the network does not use proof of work.

There are several cryptocurrency exchanges where users can purchase Steem, SteemPower or Steem Dollars (SBD) tokens or even convert them into local currencies. A user without an account can buy through crypto exchanges, such as Binance. In addition, STEEM and Steem Dollars can be easily exchanged for Bitcoin, which can then be converted into fiat currencies.