The Steem network platform is relatively young. The founders of the project are Larimer D. and Scott N. The beta-version testing began in 2016. By 2017, the site had registered approximately 50,000 active users. All actions of the developers are described in the White Paper (since its appearance, the document has hardly been updated).

Steemit Inc. is based in New York, therefore fully falls under the US legislative framework. Later, many analogues of the Steem social network appeared, including those with a Russian-language interface. You can use special tools to view the data that is stored on the blockchain.

The Steem cryptocurrency entered the market for the first time in April 2016. During its existence, many updates have been made, so interest in Steem tokens has not been lost until now. The platform went through many stages, ranging from the initial placement of coins, ending with a rapid fall and rise in the rate. Steem had to survive hacker attacks, but this problem was quickly resolved.

About Steem

On equal terms, the Steem platform can compete with , as it represents a blockchain-based social network. Users are rewarded for any work they do online.

The Steem blockchain is a distributed database that records all posts and votes. The web interface of this social network is also called Steemit. The platform reached a new level of development - it was based on the updated graphene blockchain.

No central authorities, no censorship, no downtime, no data abuse and vulnerability - all this is ensured by decentralized blockchain technology. In regular social networks, creators profit from advertising, and users can simply communicate. Things are organized differently on the Steem network.

Distinctive features of Steem:

decentralized network - there is no single supervised body, therefore, the requirements for censorship are loyal;
a unique platform concept - you can combine business and entertainment offers;
reward for creating and distributing content - you can publish or create materials on the network without restriction, while receiving a monetary reward;
worthy reward - each user receives payment in the money earned.
Earning on the Steem network depends on the quality of the generated content. The platform has a unique structure. In addition to the exchange of intellectual values, you can use the options for storing tokens.

A kind of social network allows you to make money on content - you can rate it, add a new one or comment. Each participant receives a reward in the form of Steem dollars, which can be left in the system to promote the project or withdrawn through cryptocurrency exchanges.

The Steem platform is a great place to connect with like-minded people with the opportunity to make money. Members of the crypto community saw a whole new direction for social media on the Steem network. The site has development prospects, although it is quite young. Transactions within the system are fast, and tokens can be stored in a mobile wallet or on the network.

Thanks to the decentralized blockchain principle, it is possible to solve the problem of personal information. On the Steem Network, you share your opinions and post them. From this moment on, the content does not belong to you, but the user receives a reward for his work, which is proportional to the popularity of the posted material. No modern social network can offer this.

You can become a Steem user for free. The only inconvenience is the English-language interface. It is also desirable to share content online in English, but there are also Russian-language texts that are not so popular.

The Steem network communicates:

developers;
crypto enthusiasts;
traders;
newcomers to the crypto industry.

The goal of the Steem Network is to create and distribute interesting and valuable content. The developers took care of the system and security settings. The platform works with a new PoB consensus method that is designed specifically for digital content.

An experienced and strong team is behind the Steem project. A unique social network based on blockchain technology works. All transactions on the server are carried out instantly, and no commission is charged for internal payments.

Steem features

The Steem network platform is independent of advertisers and provides an opportunity for each of its users to earn money from their content. The Steem token played an important role in creating a healthy system, which can be accumulated in the system up to a certain amount.

The new Steem network solved several problems:

open safe tools for making money;
increase the level of security;
increase popularity among the English-speaking audience;
get the opportunity to earn money for evaluating content or creating it.
Unlike other social networks, Steem has complete freedom from censorship. The better the quality and uniqueness of the posts, the higher the authors reward. All user content is stored in a distributed ledger, and intrusive ads and bot entries are not rewarding. Accounts are created with public information about the user, so the fact of confidentiality is excluded.

When registering on the network, a security measure is provided - logging in using a Gmail or account. System participants can choose a list of topics of interest to them, for which they receive high rewards. The decentralized web interface is simple and does not require a lot of study. You can even earn Steem-dollars for commenting on an interesting topic.

The Steem system is open to new users. The more useful content members add, the higher their status on the network. The Steem coin is freely traded on exchanges where it can be exchanged for another cryptocurrency.

Users can store Steem-dollars directly on the network. For this, a special wallet has been set aside, which has protection against hacker attacks. Storage on multicurrency wallets is not provided.

The platform is designed for such users:

entrepreneurs;
curators;
creative personalities;
bloggers;
internet users;
heads of organizations;
crypto enthusiasts.
Each user of the Steem network must independently worry about the security of their account. There is no third authority between the user and the platform that controls the system. You can use the Voyager Inc. app to enter third-party points.

Steem members decide for themselves what content is useful. The decentralized platform encourages good user behavior and active participation in discussions. The cryptocurrency network has an interesting concept built on a special voting process. All necessary measures are being taken to combat bots - this helps to solve the problem of fake voting accounts.

The Steem system uses several types of keys:

posting key - needed to post posts and other content in your account;
active key - responsible for completing tasks for the movement of personal funds;
owner key - used when absolutely necessary (for example, to restore an account susceptible to fraud).

How is Steem created?

The Steem cryptocurrency is created according to the PoW principle, so every user can mine it. You do not need to purchase special computing power for this. The block is created in 3 seconds with a duration of each round about 60 seconds.

The majority of Steem tokens were issued during the ICO promotion. The rest was left for mining. You can mine without using ASIC equipment. The efficiency of block production is achieved through Delegated Proof-of-Stake - the algorithm allows you to collectively distribute rewards.

For storing a digital asset, only the "hot way" is offered - on exchanges or in the system. The reliability and safety indicators in this regard are constantly improving.

Is Steem endless?

The Steem cryptocurrency is not an infinite digital asset. Since its inception, 245 million coins have been issued. The number of mined tokens in the system is limited and was pre-laid down during the ICO. You can exchange Steem coins for other cryptocurrencies or mine using the Proof-of-Work protocol. The mining function will be completely removed soon.

Steems strengths

The introduction of the Steem cryptocurrency into the global economy is happening gradually. By monetizing their content, users can earn money and not depend on intermediaries. This digital network has been created on the principles of decentralization, which make it possible to remove the issue of governance from other bodies.

Steem network rewards for content creators and readers are generated daily. Steem-dollars are evenly distributed among the participants - 75% goes to the author, and 25% goes to the readers. Holders of Steem-dollars can also receive a fee in the form of a digital asset - 15%.

The Steem platform has the following advantages:

fast and convenient registration;
the possibility of simple earnings;
reliable system due to blockchain technology;
an easy way to get a reward;
increased indicators of speed and safety;
efficient mining of coins through mining;
high rewards for online activity;
fast payment of funds;
full decentralization.
Steem cryptocurrency operates on its own Smart Media Tokens protocol, which provides speed for published content. The system provides for convenient monetization - users are awarded incentives in the form of stim-dollars. Steem coins are similar in structure to Ethereum tokens and are based on the ERC-20 standard.

Steem coins are paid out using a micropayment system. Participants cannot find keys and passwords on their own, so after receiving them, it is worth ensuring complete security.

The Steem blockchain is the strongest social network. It has become widely known among cryptocurrency lovers. The functionality for users opens up interesting possibilities. Transactions on the network are carried out almost instantly, as the technical component of the site is constantly being improved.

Each user can contribute to the development of the Steem project. To do this, you do not need to have another cryptocurrency or fiat on your wallet. After registering in the system, the development of the system can be promoted through user activity. The target audience of the Steem network platform is constantly expanding, content is published that is interesting to all participants in the digital system.

Steem in TOP currencies

With the growing popularity of social networks, the Steem platform has taken its rightful place. In terms of capitalization, it is in the top 100 cryptocurrencies at 84th place. Every year its stability and demand is growing, as well as the value in the cryptocurrency market.

Experts see several prerequisites for the growth of the Steem coin, from which, with the right strategy, you can profit from. The number of generated tokens in the system is gradually increasing, thereby reducing the inflation rate. In the long term, Steems digital asset should be profitable, so its future is not in doubt.

The Steem cryptocurrency is included in the list of liquid and popular digital assets. It is traded on many well-known cryptocurrency exchanges, and its capitalization indicators are constantly growing. Steem tokens are of interest not only among investors as a subject of long-term investment. Coins are also earned and accumulated by people who have recently been interested in cryptoeconomics.