What is Steem (STEEM)?
Steem (STEEM) is a cryptocurrency used to power the platform Steemit – an incentivized blockchain social media platform. It is the token currency of the social network Steemit which is built over the blockchain mechanism and where people earn money (STEEM tokens) for posting, sharing, curating and commenting contents.
Steem (STEEM): History
Steemit is a blogging and social networking website on top of the Steem blockchain database. The Steem blockchain produces Steem and Steem Dollars which are tradeable tokens users obtain for posting, discovering, and commenting on compelling content. On July, 4th, 2016, Steemit, Inc officially launched Steemit, a social media with virtual currency rewards that run over the Steem blockchain. Steemit, Inc is a privately held company based in New York City and headquartered in Virginia. The company was founded by Ned Scott and Dan Larimer, creator of BitShares, and EOS. Steem is based on the Smart Media Tokens (SMT) protocol, developed by Steemit. As of December 2017, CoinMarketCap.com listed Steem with a $475 million market capitalization and ranked Steem tokens 32nd of 1,358 cryptocurrencies. Steem began with a highly inflationary supply model, doubling roughly every year.
How does Steem (STEEM) work?
Steem has two different tokens, both of which are measured against STEEM, the base token for the network.STEEM Power is the STEEM which has been put into Smart Contract mode, and it helps users to gain more influence on the network.Steem Dollars are STEEM tokens which are more like an actual cryptocurrency and can be converted to Fiat currencies or used for payments and transactions.
Exactly 50% of whatever the user earns is given to them as STEEM and the remaining 50% as Steem Dollars.
The network also has an internal conversion exchange where STEEM can be used to purchase Steem Dollars and vice versa. The process takes 3.5 days, approximately.
Steem offers 75% of the reward to the authors and 25% of the reward to the curators.
Steem also offers a wallet where the users can store their Steem Dollars or use for transactional purposes.
How to buy Steem (STEEM)?
There are two ways to get STEEM is to earn or to buy it. There are several popular exchanges to buy STEEM like Binance, Bittrex etc… Earning STEEM is done by engaging with the Steemit community, posting content, commenting, sharing and networking. The more valuable contributions you make, the more STEEM you should earn. First of all, you have to get a wallet to make your coin safe.
Steem (STEEM) Price Prediction 2018
Steemit has been growing exponentially since its inception. STEEM can be a profitable investment option. Steem price equal to 3.986 USD at 2018-01-17. If you buy Steem for 100 dollars today, you will get a total of 25.089 STEEM. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-01-13 is 13.469 US Dollars. With a 5-year investment, the revenue is expected to be around +237.93%. Your current $100 investment may be up to $337.93 in 2022. The price today is $3.95 and market cap value of $976,176,861. The current supply is 246,929,587 STEEM and the volume is $31,542,000. Steem (STEEM) price today, Steem (STEEM) price chart, where to buy Steem (STEEM), how to buy Steem (STEEM), Steem (STEEM) mining, Steem (STEEM) exchanges, Steem (STEEM) wallets, Steem (STEEM) history.