Steem / STEEM is a block chain based reward platform that provides solutions for content monetization and community expansion.
Actually Steamit and other products are running and there are many users who use it.
On this page, we summarize the superiority compared with competition from the characteristics and outline of such Steem / STEEM.
If you read this, you can see what project Steem is and what you are aiming for .
Let’s briefly outline the cryptocurrency STEEM
Overview of STEEM
Detailed description of STEEM features
Steem is a block chain based reward platform and Steemit is a social media platform using it.
Steemit is similar to existing SNS like Facebook, but since data is recorded in the block chain, it does not disappear even if the system fails.
In addition, the tokens on the Steem network are generically called SMT , and the one used in Steemit among them is called ” STEEM “. The notation is similar, but do not confuse it because the meaning is different.
Although I will explain STEEM and Steemit in detail in the future, those who feel that it is a little difficult can understand STEEM sufficiently even if you skip to “【STEEM Future Prospects / Possibilities】 How to use · Use Case” Yes.
- About notation
- Steem … the entire network
- Steemit … Steem One application in the network
- Currency on STEEM … Steemit
“Steemit” social media platform that enables community formation and monetization
There is a block chain based social media called Steemit running on Steem .
Steemit can provide content in a form like a blog post, and contributors can earn revenue by evaluating the content.
Also, not only contributors but also readers can earn revenue and can be used as social media that can form communities and monetize .
There is no upper limit on the number of sheets to be issued (tokens issued everyday)
STEEM tokens will not be issued and will continue to be issued.
Just holding it as is, the value goes down steadily.
It may seem that STEEM tokens are not worth much if you ask this much.
Basically STEEM puts value on the Steem network rather than holding it, it does not keep holding, so the merit of just holding it may be small.
- Token inflation rate
- The inflation rate of the number of issued tokens is set to 9.5% per year as of December 2016. The inflation rate will continue to decline until the inflation rate falls by 0.01% (approximately 0.5% per year) per 250,000 block generation, until it reaches 0.95%. (About 20 years so far)
There are 3 kinds of tokens of STEEM · SP · SBD
Steem’s network uses three types of tokens: ” STEEM “, ” Steem Power (SP) ” and ” Steem Dollar (SMD) “.
STEEM and SBD can be exchanged at the cryptocurrency exchange, but the SP can only be obtained within the Steemit network.
Although it is commonplace, the roles of the three tokens are different. Let’s check about each role.
- Overview of the three tokens
- STEEM … Exchange of value in the Steam network with the outside world
- SP … Steem Currency in the network
- SBD … Steem Legal currency in the network (temporary)
Like other virtual currencies, STEEM can be exchanged at exchanges.
However, since STEEM continues to be issued daily, as long as you buy it on the exchange and have it as it is, the value will continue to decline due to inflation.
- Strictly it is issued in the form of SP and new STEEM is issued when it is converted to SP → STEEM.
STEEM has a role to add value to the entire Steem network rather than “use in the network”.
Basically, STEEM does not own it, let’s think of “to use” only for the exchange of values such as SP · SBD ⇔ BTC. It is close to the idea of XRP between banks.
Steem Power (SP)
Steemit Power (SP) is a token used within Steemit.
We introduced that you can earn rewards by using Steemit, but that fee is given by SP 50% and SBD 50%.
Steemit “votes” to evaluate the content, but SP will be required for that vote.
If you possess a lot of SPs, the number of SPs that can be used for that vote will increase, so you can expect a bigger return on voting. (You will have great power in the network)
In addition, SP owns SP newly issued as interest only.
SP is easy to understand as a currency in the Steem network.
This SP can not send money to others, and it is not handled also at exchanges.
Since SP and STEEM can be exchanged, if you want to exchange to Bitcoin or legal currency, you need to exchange via STEEM.
Also, because there is a limit on this amount of exchange, it will take quite a long time to replace SP with STEEM.
Conversely, conversion from STEEM to SP can be done immediately.
- How to exchange from SP to STEEM
- For the exchange from SP to STEEM, first determine the number of SPs you want to exchange. This will be converted to STEEM in 13 weeks. In other words, it will take about 4 months to convert the SP specified first to STEEM.
Is it a mechanism to make Steem network active by making mechanisms that you would like to own with SP, such as dividend and cashing mechanism?
Steem Dollar (SBD)
Steem Dollar (SBD) given as part of Steemit ‘s reward (50%) can be exchanged for STEEM.
It is fixed so that 1 SMD = 1 dollar worth, so it certainly keeps value within the Steem network.
Also, unlike SP, there is no particular restriction on exchange to STEEM.
Personally, by fixing part of the remuneration of Steemit as a legal currency “what is surely worthworthy”, it offers a certain merit (security) of using the Steem network I think that it is not. There is also the idea that “There is an aim to get familiar by fixing 1 dollar.”
More than 350 applications are already made on Steem
More than 350 applications are already made on Steem.
Steemit accounts for more than half of the market share, but many other applications and projects such as “esteem” and “dlive” are also being developed.
- At the top of the official site dApps currently running on Steem, the number of projects are displayed in real time.
【Future prospects and possibilities of STEEM】 Explanation of use cases · use cases
I will explain how STEEM will influence the world.
Here we will focus on what problems STEEM solves rather than technical issues.
All Steem users (authors / readers) can earn rewards
In traditional social media, content providers and readers were unable to receive compensation.
However, in the application on Steem, you can receive compensation by receiving contributions by evaluating posted content from readers, and also contributing to the service by participating in the evaluation by readers.
In addition, votes for readers to evaluate change the weight of votes by the SP they possess.
The more popular the content you vote, the greater the reward.
Community will be formed spontaneously
As both authors and readers can receive compensation, more users gather.
Also, in order to obtain evaluation, it is necessary to post high quality content, so it is conceivable that good content gathers as a result.
Since both contributors and readers can receive remuneration, the number of participating users will also increase, and the community will be formed spontaneously.
We believe that SP’s “system that makes it desirable to use in the network” will also contribute to voluntary networks.
You can make SNS platform without advertisement
Steem keeps issuing tokens automatically, so there is no oppression of funds for administration by compensation cost.
In the first place Steem is managed in a decentralized way like P2P, not centrally managed with a specific administrator.
As a result, operating costs are also very small, so you do not have to rely on advertising income.
What is the advantage of STEEM? Compared with similar projects
Here we will explain the difference with ” ALIS ” ” Golos ” ” Medium ” which is often compared with STEEM.
Difference from ALIS
ALIS is also in common with STEEM in terms of social media platform using block chains .
However, although STEEM has a great advantage as payment of compensation to users, ALIS differs in that it has the advantage of being able to approach valuable articles and people.
Even on the ALIS platform, compensation schemes for users have been introduced, but to keep the structure simple, the number of tokens is limited to one .
Difference with Golos
Golos forked from STEEM, there is no particular difference in performance.
If you make a difference, STEEM is made for users who use English, but Golos is made specialized for users who use Russian .
Difference from Medium
Medium is also in common with STEEM in terms of media that can post its own content.
However, Medium is an application on the Internet to the last , it is not tied to a block chain.
Also, readers can not make money.
Steem / STEEM opinion · Tweet summary
Yesterday I was invited by Steemit ‘s event so I joined.
Community formation is indispensable for the initial growth of the crypto project, and since the efforts of the JP members were oozing from the event of yesterday, I thought the Steemit community was really wonderful!
Steem has not done ICO but this quality is amazing. pic.twitter.com/YEnkUUaNUV
– Tomohiro Tagami⛓ Toshihiro Tanoue (@ tomohiro_tagami) May 9, 2018
As popular articles of ALIS were concerned, it was highlighted that “good articles gathering goods ≠ high quality”. While Google raises garbage articles, I decide [benefit] from various elements such as “coverage” “staying time”, etc., but ALIS or the number only? It is useless unless you decide “profitability” a little centralized. Is it the same problem as Steemit?
– hory (@ hory _ BTC) May 26, 2018
# The strength of the community of # Steemit does not feel so good so far, I do not know how to use it well, it is honest,
Many people are traveling in Morocco, are not they why? There is much information! A
In this one point I am enjoying the steemit life considerably ♡
– Mari Saita (@ mari_saita) August 6, 2018
Steemit is started from Normane. It is close to the dream of the old Crypt. Crypto now has turned into a rich dominant world. Unlike the world where geeks enjoyed three years ago. It can not be relied on anywhere, it can not be trusted, it was de centraised that touched such a feeling. And.
– Mr. Fu (@ chubchubkun) January 7, 2018
Creating a structure that does not depend on corporate advertisements like ALIS or Steemit is very interesting. However, both users need a user who has sufficient funds structurally and does not turn around if the funds are discontinued. After all, that user will become a company and it seems that advertisement will enter in a different way
– Sawa Azumi (@ Sawa Azumi) March 26, 2018
Let’s check the chart of STEEM
Real time chart of STEEM / BTC is displayed.
STEEM sometimes continues to increase the number of cards issued, so you can see that you only have STEEM ….
As described in STEEM’s token summary commentary, basically it seems good to think that it exchanges value with BTC and Steem network.
TradingviewChart is useful for STEEM’s technical analysis!
Tradingview Chart is useful for STEEM’s technical analysis and chart checking.
Not only Binance but also charts such as Bittrex and Bitmex can be confirmed only on this site, so it will save a lot of time for people checking charts on multiple currencies and exchanges.
Because it can be used for free, if you have not registered yet, it is recommended that you just register.
A list of exchanges that STEEM can purchase!
List of STEEM exchanges
It is a list of exchanges handling STEEM.
STEEM can be traded on overseas exchanges such as Binance and Huobi .
Steem / STEEM Project Summary
I summarized the features and future prospects of Steem / STEEM .
I would like to pay attention to how the new form of social media platform grows.
People who want to know more about Steem should read the white paper and check official Twitter etc.
Author: Sachan 【Coin Desk News】 – Source Post: https://crypto-times.jp/steem/
Disclaimer: CoinNewsDesk.com is a crypto news portal, financial discussion forum, and content curator / aggregator. Articles on Coin News Desk are provided for informational purposes only. We are not an investment advisor and do not provide financial advice.
It’s also important to it properly to diligence and analysis, including consulting a professional financial advisor, No content on Coin News Desk makes up a recommendation to enter in any type of investment or to engage in any investment strategy present on this website.