Steem is a cryptocurrency used to power the platform Steemit - an incentivized blockchain social media platform.
Users create and curate content on a steemit, such as other social news platforms (e.g., Reddit, Hacker News) and get rewarded in Steam for their work.
Steem:
Steem is the fundamental unit of account on the Steem blockchain.
All other units (steem dollars and steem power) get their value from the price of steem
There is no need to steem in its Cryptocurrence form, it should be used to purchase steem power, steem dollars or convert into bitcoins.
Steem increases in 100% supply each year Steem was first published in March 2016 as a white paper.
Currency and platforms were in beta till 4th July 2016
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Steam dollar:
Steem Dollars are award-winning units for posting and curating materials to users.
Each steem dollar represents the amount of steem equal to $ 1 USD.
Steem dollars (or SMDs) were created so that users would not be affected by the volatile exchange rate of steem.
SMD really makes a promise, that when you come in cash, you will get US dollar equivalent to Steem, which you have earned.
Steem dollars earn an interest rate of 10% annually.
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Steem power:
Steem Power (or SP) is a token that reflects how much power you have inside the steem platform.
When you have hundreds of MPs, you are counted more in your vote system. Actually you can not vote if you do not have any SP.
Increasing your SP is known as "powering up" and reducing it is known as "powering down"
The method of power down is basically to cash in on SEP steem.
It can be done during 104 weeks (2 years) period, to ensure that users do not only cash in advance and break the whole steemdt economy.
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Steem platform:
There is no 100% annual inflation and no coin limit, unlike other cryptocontroller steem.
Since the launch of the coin on July 4, 2016, the platform has increased significantly and currently there are over 70,000 users, although it seems that the number of active users is very small.
You can post on Steem Dollar and Steemit and can earn by curating articles.
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Steem Coverage and Moderation:
In addition, you can make money from Steem, any account can read the content posted on the steem without having to, and if they choose, users can be completely anonymous. Steem controls the behavior of its users through community, if you do Steemetiquette
There are no prescribed guides like Rudd, but they are being made organizationally and self-assessed by the community through their combined voting power called Steem Power.
In these guiding principles, in many ways quality material of encouragement from partner Stemis is encouraged, otherwise users are simply wasting their time because they will not receive any prize for posting low quality, undesirable content or spam.
On Steem, voters are called "curators" and are encouraged to evaluate content, sources and links to get high quality information, rather than opinion, vote based on the reality, relevance and quality of information and the middle.
Where it is due to credit and quotation sources are encouraged, as the original poster is being rewarded for the material, when it is a matter of awarding the original prize
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Helpful Steem Resources:
- Steem for Noobs: http://bit.ly/2tYBkPj
- Proper Formatting of Articles: http://bit.ly/2tYSnB5
- Beyond the Blogs: http://bit.ly/2v1CVkr
- Steem Power and Powering Up: http://bit.ly/2tF6WHf
- How to Mine Steem in Windows: http://bit.ly/2u36q8a
- How to Mine Steem in Ubuntu: http://bit.ly/2tYVMzN
- Steem White Paper : http://bit.ly/2tYPekB