Hey there, it’s Pepe! Ready to dive into the world of Steem coin? Let’s hop to it and explore what this crypto is all about in a fun and clear way!
What is Steem Coin?
Alright, picture this: Steem is like a magical land where social media meets crypto. Instead of just scrolling and liking posts for free, you get rewarded with shiny Steem coins for creating and curating content. It’s like getting paid to do what you already love doing online!
Steem at a glance
Symbol: STEEM
Launch date: 03/24/16
All-time high: $8.43 on 1/03/18
Available supply: 307,736,038 STEEM
Total supply: 324,710,132 STEEM
How Steem Coin Works
Imagine you post something cool on a Steem-powered platform. Every time someone upvotes your content, you earn STEEM and STEEM Blockchain Dollars (SBD). But wait, there’s more! The people who upvote your content (the curators) also get a slice of the reward pie. It’s a win-win!
Tokenomics: The Triple Threat
Steem’s got three native tokens, each with its own superpowers:
- STEEM: This is your everyday token, used for transactions between users.
- STEEM Power (SP): Lock away your STEEM for 13 weeks, and you get SP. The more SP you have, the more powerful your upvotes become, and you earn interest too. It’s like leveling up in a game!
- STEEM Blockchain Dollars (SBD): These are like IOUs pegged to the value of $1 worth of STEEM. Easy to trade and super handy for exchanging STEEM with fiat currency.
Decentralized Applications (dApps)
Developers can build cool social apps on the Steem blockchain. Thanks to SteemConnect, users can easily log into these apps, making it super convenient to grow and interact with the Steem community. Imagine having 1 million potential users right from the start!
Consensus Mechanism
Steem uses Delegated Proof-of-Stake (DPoS). Users vote for witnesses who secure the blockchain. There are 21 witnesses creating and signing blocks, with rewards distributed among them and the STEEM Power holders. A new block is generated every 3 minutes, keeping the blockchain running smoothly.
Why Steem Coin?
Steem is perfect for those who love creating and engaging with content online. If you want to get rewarded for your social media activity, Steem’s your go-to. It’s all about making social media fun and profitable for everyone involved!
In a Nutshell
Steem is like the best of both worlds: a social media platform that actually pays you for your contributions. Whether you’re a content creator, curator, or developer, Steem offers a rewarding ecosystem to get involved in. So, hop on board and start earning with Steem!
There you have it! Now you’re in the know about Steem coin, just like a true crypto wizard. Keep it fun, keep it clear, and always stay curious!
Links:
https://steem.com/
https://twitter.com/steemit
https://www.reddit.com/r/steemit/
https://www.facebook.com/steemit/