In recent days, Steem has become the third cryptonnet in importance, accelerated growth that no one imagined. Here we explain what is this currency, what is its philosophy and how to be part of the network that supports it.
What is Steem ?
Steem is based on the social network Steemit.com (similar to Reddi t) in which users publish content and then it is evaluated by other users. Steem is the criptomoneda that serves as "money" of this system. Whether publishing content or evaluating content, users can make a profit. These coins that they receive can use them both inside the own network, as well as exchanging them in an exchange. So far, two operate with Steem : OpenLedger and BittRex.
Steemit registers all the content of the users of the social network in its Blockchain , that gives greater transparency and security to the process, as it has the backing of the decentralized book. It is possible to see the publications and the money obtained by each one of the people. It also eliminates intermediaries who are left with much of the earnings of content creators in other Internet spaces. Here the relationship between producer and consumer content is more direct.
It is interesting to see how the social network every day is full of users who publish. It can be seen that some have already outperformed the 2000 dollars in less than a day.
Is it only made by generating content?
The main "machinery" of this cryptomoneda is both the production and reception of digital content. However, it is not the only way to win with Steem.
You can also practice Steem mining through the Proof-of-Work algorithm . Full information about this process is at this link on Steem's page .
In addition there is another stimulus for those who wish to join: Steem's system rewards the very thrifty. Users who hold coins for more than one year receive interest, that is, a small percentage of incentive. In addition, the possession of coins is equivalent to the user having more "power" within the network, forming a kind of social class with more influence and, therefore, more choice to have followers.
Why did he grow so much?
On July 4, Steem presented the final version of its network and launched 5 million cryptoneses to the community, which made it possible to take off. But it is not the only thing that will do. Promise on your website other news. For example, they are hoping to add the InterPlanetary File System (new peer-to-peer Internet protocol) to give even more security to the network. They also want to include peer to peer private messaging , greater privacy of transactions and ensure anonymity of users.