How long does it take to mine 1 Bitcoin? If that's what you've been curious about, you're in the right place. Since the emergence of cryptocurrency in 2018, its tec...Read More
Prices are in USD.
|Market Cap Rank||#248|
|Price Change 24H||-0.04%|
|Price Change Percentage 24H||-9.93%|
|Market Cap Change 24H||$-16,482,915.00|
|Market Cap Change Percentage 24H||-11.92%|
|Circulating Supply||384,695,616 steem|
|All Time High||
January 3, 2018
|All Time Low||
March 11, 2017 -
|Community||https://reddit.com/r/steem , https://www.facebook.com/192597267770965 , https://twitter.com/SteemNetwork|
Steem is a blockchain that engages society building and social interactions with cryptocurrency gains. It was founded in the year 2016 by Ned Scott and Bit shares creator Dan Larimer. It is a blockchain that allows users such as building developers , entrepreneurs who monetize content and holders who buy and sell shares in the world currency market including last but not least content creators in the social media market platform who have taken the industry by storm.
Dan Larimer was born in Colorado and studied in Virginia polytechnic institute and State university in 2003 where he was awarded with a Bachelor of engineering in Computer Science. He is a visionary software engineer and serial entrepreneur.
He is also the CEO of cryptonomex which is a Blockchain consulting company other than that he is also the founder of Bitshares and Invictus innovations.
Nedd Scott studied in Bates College where he studied Business operations. He is the Financial Analyst at Gellert Global Group which consists of many leading North America food importing companies for over 100 years.
When Nedd was a student at Bates College between 2012 and 2015 he was venturing in the knowledge content on bitcoin when he stumbled across Dan’s work on his Bit shares project and became interested.
They met and between them sparkled the idea of steem was underway when Nedd innovated the idea of conjoining micro insurance with the blockchain and other similar opinions. Steem came up of the idea that people would have the ability and capability to help each other when struggling to solve questions or whenever they needed help.
Steem has therefore grown into a large company in the cryptocurrency world market and has rewarded people for posting and voting on content in the worldwide community.
Ideas that consists steem and rewards to people who provide essential and useful contributions to the community are outlined below.
These are items that an individual can offer to attract wealth i.e. debt and ownership.
Ownership is held through liquid or vesting where liquid is short term indicating that it can be sold anytime and vesting is long term indicating it can only be sold when the investing time lapses.
This is the fundamental unit on the steem block chain. It is a form of liquid currency where it can be bought or sold on exchanges or transferred to other users as a payment method. This is a platform where anyone can earn rewards through their quality content contribution also rating and commenting on what other users have already posted.
It caters for a wide variety of users including; content creators, authors and miners. Steen has really helped the community in which we are living where its now a possibility for people to share opinions and ideas that are helpful to the community at large. Also has enabled an uprising to problems in the society we live in today.
One must create Steem account just like in Facebook and reddit .The next step is for the account verification which is done either through a registered email account or an SMS verification via phone. As always password secrecy is a great deal in any social media platform as when lost it cannot be recovered.
Mining really begins when the user installs the mining software on their CPU as its system cannot work in a GPU. The user then starts to explore by either commenting on an already published comment or posting his comments which is interesting to the community hence votes might be cast once other users are also intruiged by his post.
The user might post his hobbies ,likes, and work life to lure the community on what he posts to increase his reward chances. When mining Stem one has to be patient and ready to learn techniques being used and come up with a few more which might be of help to him and to the larger learning community.
Steen mining does not support copy pasting. This is enough proof that Steen requires hardworking and consistency on posting ,commenting ,publishing and even voting on interesting content. You can also purchase Steem coin on exchanges like Bitfinex, Coinbase, Poloniex, etc.
This is a steem that has undergone a thirteen week vesting schedule .it is a long term capital commitment This enables customers to make long term plans hence it is untransferrable and non-divisible exception is via the automatically recurring conversion requests. The more a steem power a user has created great influence in the cryptocurrency platform. SP acts as an access code permitting absolute powers within the steem programme.
After the thirteen week period vesting SP holders earn new tokens in the remainder where holders are paid 15% of annual inflation. Transfer from steem to SP is known as powering down where SP to steem transfer is known as powering down. Powering down SP is returned to user over a period of thirteen weeks through 13 equal payments commencing one week after power down is initiated.
This was designed as an attempt to bring stability to the cryptocurrency market and the steem community network. Created by a mechanism similar to convertible notes where it brings a higher return than an investment in equities. It is denoted by the symbol SBD standing for steem blockchain Dollars. Its creation requires a number of reliable price feed and guidelines that protect against abuse
This implies that they can be used to build a community around any concept that has a defined purpose. Rewardees completely depend on the communities ideas and opinions of the influencers. The value each currency achieves is dependent on the demand of influence within a part community and how large the market believes a community can grasp.
It enables a community to fund the development of what is valuable and monetize its growth as well. As people join a community they engage into a particular set of beliefs and may vote to reinforce a certain value in the community.
A user contributes by either through a buy in or work in. where in both cases users are earning value of the currency. When it comes to distribution tasks as per how to gauge the relative quality and quantity of work that the community does to effectively reward the millions of users using;
When a payout is posted it indicates 50% steem dollars and 50% steem power whereby steem power gives a user increased voting transaction power and steem dollars gives an immediate advantage in stable currency.
This is when a community comes together to acknowledge an anonymous agreement on a certain piece of information. This creates an even better forum for decision making in the cryptocurrency world where cryptographically signed testimony from individuals is recorded in a public ledger that establishes the overall global order of events. The ledger is then processed to derive a universally accepted decision. In the case where all the members agree on the processing algorithm therefore it is authoritative.
Basically steem is a platform founded in 2016 where individuals are assisted and solutions to problems in the cryptocurrency world are created. It provides an online platform technology where authors, content creators and minors can earn through steem, steem dollars and steem power being the main currency used in the cryptocurrency world of steem.
Reward increase in longevity and monetary value as the dollar currency value increases especially in liquid vesting during the 13- week period where a user earns a very worthy price for their investment.