Steem (STEEM)
Steem is a cryptocurrency that rewards users for their contributions to community building by posting and upvoting valuable content. Inspired by the success of platforms like Reddit, where communities enrich shareholders, Steem aims to distribute rewards directly to the community members responsible for creating and curating content. Steem offers services such as curated news, Q&A, and job boards, which are integral to its ecosystem. The founders of Steem have roots in BitShares, with notable involvement from Dan Larimer.
| Ticker | STEEM |
| Category | Cryptocurrency |
| Website | https://steem.com/ |
| @SteemNetwork | |
| https://www.reddit.com/r/steem/ |
The Steemit platform
Overview of Steemit
Steemit is the primary platform built on the Steem blockchain, functioning as a social media network that rewards users with cryptocurrency for their engagement. It shares similarities with content-driven platforms like Reddit and Medium, offering incentives for participation. The concept is straightforward: the more valuable a piece of content is to a broad audience, the more its creators and curators can earn.
Voting and content hierarchy
On Steemit, users can cast votes, creating a hierarchy of content. Posts with more upvotes earn more rewards. The platform also supports downvotes, allowing participants to rate content both positively and negatively. This meritocratic system means that users holding more currency can cast votes with greater influence, thus affecting the visibility and earnings of content.
Additional services and features
D.tube: The blockchain-based video platform
The Steemit community extends its offerings with D.tube, a decentralized video platform similar to YouTube. Built on the blockchain, D.tube allows users to experience the difference between traditional video publishing sites and blockchain-based platforms. A notable feature is the display of earnings alongside likes, shares, and comments, providing transparency and incentivizing content creation.
The Steem ecosystem
Content creation and curation
The Steem ecosystem thrives on the principles of content creation and curation. By rewarding users for their contributions, Steem encourages the generation of high-quality content and active community participation. Users are motivated to produce original work and engage with others' content, fostering a collaborative environment.