In a short time, these types of currencies have great popularity worldwide and for sample is the bitcoin. However, although many people enrich themselves on a daily basis, how feasible is it that this good run continues?
ay Smith has almost no doubt that the cryptocurrency market will plummet.
The price of bitcoin has multiplied by six in the last year, despite a 25 percent drop this month caused by China's crackdown on digital coupons.
He does not have much information to classify the prospects of Blackmoon Crypto, Steem, FirstBlood and other coins that have caught his attention, but that's great for Smith, a high school dropout and once a professional video game player. Its portfolio rose 295 percent in the last 12 months.
"I just ordered a Tesla, and I do not even know how to drive," the 29-year-old Briton said.
The top 10 of the cryptocoins with the highest market capitalization has received the entry of a new member: Steem. Its main proposal is a social network based on a blockchain platform that allows users to create, evaluate and share content while receiving profits.
Steem has exceeded this $ 300 million in capitalization this week by registering its market price on the $ 4 per STEEM, which is currently placed in the third position in the list of the most valued cryptocurrencies, surpassing most used options and with more support such as Ripple, Litecoin, DASH and Lisk.
With a surprising increase in its price of over 1,000% in less than a week, Steem has placed itself before the eyes of all the cryptocurrency enthusiasts who wonder what makes this option so good compared to the rest. At CriptoNoticias we have made an evaluation with the intention of highlighting the characteristics of this cryptocurrency and thus better understand the reason for the extraordinary growth.
MUCH MORE THAN A SOCIAL NETWORK
Various attempts have been made to monetize social networks with cryptocurrencies, taking advantage of decentralized technologies to create economic ecosystems where the transfer of value is directly between users who create and consume content, without the need for leftover intermediaries or speculative economic schemes.
With a voting system and reputation similar to that of the Reddit platform, in the social network Steemit.com users benefit by creating relevant content that is evaluated positively by the rest of the users, making the quality and quantity of content grow that circulates on this platform. In addition to publishing content, users also earn cryptocurrencies when evaluating others' publications; this promotes the dynamism of the network with the constant economic incentive.
Steemit rewards users with STEAM cryptocurrencies that can be easily exchanged by Steem Power (SP) and Steem Dollars (SMD), which have distinctive features that add advantages to each one to be used for various purposes inside and outside of the platform; such as circulation of currencies in the social network, cryptocurrency mining, safeguarding of value and exchange for fiduciary currencies.
In addition, Steemit records in its blockchain all the publications of the users in the social network, thus adding a layer of trust and extra transparency where the decentralized registry is used in the best way.
