Steem is a cryptocurrency that rewards users for community building by posting and upvoting valuable content for others. Steem was inspired from the success of Reddit where the community helped enrich the shareholders. Steem aims to help distribute the rewards to the community members who help create the community in the first place. Steem aims to provide various services to its members such as a source of curated news, Q&A, job boards etc. The founders of Steem came from BitShares with Dan Larimer involved as well.
Steem’s main platform, called Steemit, is a social media network built on top of the Steem blockchain. Steemit is similar to popular content-driven social networks like Reddit and Medium, but it rewards users with cryptocurrency for their participation. Fundamentally, the more value a particular piece of content provides to a greater number of people, the more the individuals responsible for creating and curating that content can earn.
Users cast votes, creating a hierarchy of content. The more upvotes a post gets, the more it will earn. The platform also allows for downvotes, giving participants more flexibility when it comes to rating content. Steemit is meritocratic, meaning users that hold more currency can cast votes with greater influence.
The Steemit community even has another service to offer to its customers. D.tube, which is considered to be very similar to YouTube, is Blockchain based and the users can realize the difference between the traditional video publishing websites and D.tube, as the amount of money earned is also displayed beside the post apart from likes shares and comments. The Steemit community is accused of posting plagiarize contents on their publishing website. The irony seems to be reaching highest levels when the original content doesn’t receive much appreciation and income than the copied versions of it."
Where is Steem available for purchase?
You can exchange STEEM tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading Steem is HTX, notably the STEEM/USDT pair, which saw a trading volume of $ 6,74 MLN. in the past day. Additionally, MEXC and Poloniex are popular alternatives for trading tokens.
What is the highest value Steem (STEEM) has ever reached?
Steem (STEEM) reached its peak price at 8.19 $ on 03 January 2018, approximately 8 years ago ago. Presently, the current price is -98.37% lower than this all-time high.
What is the historical minimum price for Steem (STEEM)?
The minimum price reached for Steem (STEEM) was 0.07199 $, documented on 11 March 2017, more than 8 years ago. In comparison, the current price is 85.35%, it above this historical low.
What is the fully diluted valuation of Steem (STEEM)?
The fully diluted valuation (FDV) of Steem (STEEM) stands at $ 71,85 MLN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of STEEM tokens. The realization of this FDV might take several years depending on the emission schedule of STEEM tokens.