STEEM, and also the Steemit content platform emerged with a completely unique use case for the blockchain in 2017. By making a strong financial reward system for the key cogs in any social content ecosystem—the user community—it has gained traction and a large user base since its launch. However, as 2018 has progressed STEEM has witnessed each dwindling user activity associated an eighty four value decline.
The STEEM token is that the outwardly accessible currency used for interacting with the Steemit social content portal. Steemit could be a platform designed to grant tangible power, and possession, back to the community driven social content platform.
A simplified analogy is that Steemit is like Reddit. however content creators, posters, commenters and voters square measure given direct financial rewards for any democratic activity among the system.
Given the characteristics of a blockchain, the secure delivery of a permissionless, secure, censorship resistant digital content system, looks viable. Steemit’s team and its crypto visionary Dan Larimer, have designed a completely unique system of incentives that square measure designed to mitigate for extraneous circumstances close liquidity, community participation and money volatility.