In recent days, a digital currency called Steem has attracted many people's attention. No other reason is that the currency has risen by nearly 2000% in two weeks. At present, the total market capitalization of coinmarketcap.com has reached 300 million dollars. (after the Guardian reported that Steem rose 10 times in two weeks, the price of Steem rose by nearly 1 times in a single day, temporarily to bitcoin and Ethernet store).
A lot of people are puzzled. Is it reliable? Don't be in a hurry. Let's see what this is a thing.
Steemit, a new social media platform, users can get a system reward token Steem based on user's voting and comment rules after publishing content, articles and pictures. After browsing the page, you will find that the theme content of the website is not limited, and at first glance, its layout is very similar to reddit, but it has more than one reward function. Let's take a look at the current number one post. Its content is actually creating a website of SteemStream.com. It has received 323 votes and 62 commentaries, but the reward has been up to 1100 dollars. And another zero comment, a post - ranking post, has a $133 award!
Then look at how the distribution of the coin is.
Steemit chief executive officer Ned Scott, in an interview with the media, said:"Since July 4th, we have allocated 10% of our tokens to all users and thank them for contributing to the development of the platform."
That is to say, so far, the market circulation of money even 10% of the total are not, but the real value calculation method should be based on the circulation of shares multiplied by the market price, therefore, the coinmarketcap.com's $300 million market capitalization is not accurate, in fact even less than $30 million.
Let's take a look at the Steemit's founding paste on https://bitcointalk.org/index.php (https://bitcointalk.org/index.php? Topic=1466593.0), which says that every registered user can get 10 Steem. If the current market price of 3.73 dollars is calculated, that is 37.3 dollars, the RMB 200 yuan, try to ask, is this reasonable?
Look at its GitHub source code again：https://github.com/steemit/steem
Steem is an experimental workload proof (POW) block chain that does not prove the consensus algorithm.
the current identification STEEM
after the launch, the block award is 1 STEEM
the annual rate of inflation is about 100% per year.
Of course, the workload of Steem is not proved by the calculation force. According to the personal guess, it should be the vote and comments obtained on the basis of the post.
Look at the information of the founder and CTO.
Chief executive Ned Scott, according to the LinkedIn introduction, he in May 2013 and February 2016, the gelerts (Gellert Global Group) global group served as business operations and financial analysts, in 2016 January launched Steemit, prior to this, he had never seen in the digital currency community.
(Steemit CEO: Ned Scott)
Everyone else is very familiar with Daniel Larimer. He is the founder of Bitshares. He is called Bytemaster, and he is the chief technology officer of Steemit company. The person who knows the bit share, should know some of the past of this person.
(Steemit chief technology officer: Daniel Larimer)
Of course, these are all my personal opinions and welcome comments!