The development of the global cryptocurrency market has led to the emergence of many projects, the concept of their work is built on the Blockchain technology. But before the advent of Steem, no such platform provided an opportunity for users to communicate and exchange messages. In this review, we will tell you about the main benefits of the Steem project and its capabilities.
Basic Steem platform information
This project is presented by a special Blockchain database – it is a platform where is carried out the community functions and interaction between users with the possibility of receiving rewards. The operating principle of the social platform Steem can be compared to all known social networks like Facebook or Reddit, Pikabu, Dirty.net, Fishki.net and many others. For the activity on these resources you receive stars to your rating. Steem’s prospects provide the possibility of earning a cryptocurrency for similar actions. You post posts, comment on publications of other users and stay active in every possible way on the Steem network – you receive tokens, which you can then convert to another cryptocurrency or electronic money.
Steem’s features consist in the fact that the platform combines the principles of social networks and Blockchain functions – the developers have combined these technologies and created a unique project with chances for long-term development. The operation of the system on the basis of decentralized management makes it possible to exclude the possibility of interference of the third party persons in the project, while each user who conducts his activities within the platform receives remuneration in the equivalent of Steems’ own cryptocurrency. In simple words, you will get something like this: if your publication falls into the top list with a high rating of views, then you have a chance to earn a reward in hundreds or even thousands of dollars.
If every active user of social networks will be rewarded for his activity on the platform, then the audience of the project will grow very rapidly.
The main idea of the project was the reward of the project participants for their activity within the framework of the social plasm Steem. The Steem system has its own cryptocurrency tokens, which can be traded and exchanged for other cryptocurrencies on available exchanges.
The Steem platform adheres to the following principles:
- Each user contributes to the development of the social platform through his involvement in existing projects and rewards for posting. Also, within the framework of the project, start-ups can be developed, which are financed, thanks to shares growing price.
- User tools can be related regardless of the form of expression – this can be time costs, attention to posted posts and content, the amount of start-ups financing. Such a system allows evenly to distribute project financing among all its participants. Also, the problem of sufficient level of providing the market with cryptocurrency tokens is excluded.
- All products corresponding to the Steem project are produced within the project and exclusively for users of the social platform. This provides the flexibility of the system and personalization for users, and also eliminates the leakage of finance.
Registering for Steem and using the resources of the platform provides you with the following services:
- The source of comments and curatorial news;
- Technical service availability;
- Cryptocurrency stability;
- Completely free transactions;
What is 1 Steem worth? At the time of publication of the article – February 14, 2018 – the US dollar equivalent of Steem is equal to the value of 4,2, which equals to 0.00047583 BTC.
The Steem Token is the basic unit of the platform that forms the value, subject to Steem Power SP and Steem Dollar SBD. The currency is characterized by full liquidity – it can be used for the purchase or sale.
Advantages of the Steem platform
Now let’s talk about how good Steem is – why millions of users enter the community and are willing to contribute to its development.
The platform was developed from the ground up, and the developers made every effort to expand its functionality. Advantages of the Steem project:
- Automated system for calculating rewards for activity on the platform and user rating.
- The principle of maximizing the long-term value of user activity – all your actions can be estimated in the crypto-equivalent.
- The ability to carry out transactions within the framework of the Steem platform with the highest level of confidentiality and the security of the users assets.
- The main emphasis is on micropayments, with a special focus on the economic component of the project.
- Rewardable voting system.
The disadvantages of Steem can only consist in the constant release of new products, which forces users to constantly switch their attention – but in fact, continuous development is not a minus.
Working with Steem сryptoсurrency
Within the framework of the platform, you have the opportunity to work with the Steem wallet, where your funds are stored. The functionality of the client is standard and will not cause problems and difficulties in the work. The withdrawal of funds from Steem can be done through various digital exchanges.
If you want to buy Steem tokens, then find a special section “Buy Steem” on the main site. After clicking on the icon, the system will transfer you to https://coinmarketcap.com/currencies/steem/.
Sources of the Steem platform
The main official site of the Steem platform is https://steem.io.
Here you can see all the information about the project, as well as track the news from the developers. Also here you will find answers to the most popular questions, video presentations and a list of exchange resources that support Steem tokens.
The Steem network address is https://steemit.com.
Here everything is simple – click on “Registration”, fill in the proposed fields and get acquainted with the wide possibilities of the platform, posting posts, commenting on publications and receiving rewards.
By the way, in the menu of the site there is such section under the link http://steemtools.com. Here you can expand your functionality – tools can be found for every taste and color.
Conclusions about the Steem platform
In conclusion, I want to sum up and say that the Steem social platform is a unique and innovative project made by the gifted minds of the cryptocurrency world. An interesting idea and its embodiment in the form of a social network built on a Blockchain opens up new opportunities for the user. You do not need to go on virtual exchanges to earn coins – post posts, comment on publications, vote and contribute to the development of the platform in a way you like, for which you receive a reward in a cryptocurrency equivalent. Probably, this is the dream of all bloggers and avid social network fans – this can make good money and do a good job, helping to develop the project.