Steem Rank 84
$0.207196
Steem Rank 84
Website Twitter
371,954,399 STEEM

Steem
Steem
STEEM

Steem Price
$ 0.2072

Steem 24h Vol
$2,372,024

Steem Market Cap
$77,067,281

24h Vol
256 BTC
1 H
0.9 %
24 H
2.09 %
7 d
3.61 %
Today Steem current US Dollar Price 0.2072 USD, and if you convert to Bitcoin is 0.00002240 BTC. The Sum of 371,954,399 STEEM circulate in the Market. Steem price change is fluxuating at a percentage of 2.09 %, and check here all cryptocurrency. In the last 24 hours 0.024 M US dollars Steem have exchanges wallets on Cryptocurrency Exchanges. Get Steem's progress by adding it to your favourites and creating a free portfolio.
Full Name
Steem
Symbol
STEEM
Algorithm
BTC Price
0.00002240 BTC
BTC Market
8,331 BTC
BTC 24h Vol
256 BTC
Total Coins Mined
371,954,399 STEEM
1h
0.9 %
24h
2.09 %
7d
3.61 %
Twitter
Website
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Description

Description


Steem.it is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, curating quality content by upvoting and by holding Steem based currencies in a vest fund, which generates interest.

There are three main currencies in Steemit: Steem, Steem Power (SP) and Steem Backed Dollars (SBD).

Steem is liquid and can be bought in an exchange and converted into steem dollars or steem power.

Steem Power is basically Steem that is locked in a vesting fund for 3 months. Users can use steem power to upvote content and get curating rewards.

When a user upvotes content his steem power gets depleted and then slowly regenerated. Steem Power holders recieve interest from their holdings. The more Steem Power a voter has the more revenue he'll generate for himself (in form of SP) and for the content creator  (In SBD).

There is also an incentive to upvote content early, as the rewards are distributed according to time. The earliest votes gets the biggest share of the reward.

Steem Backed Dollars are there to protect content creators from volatitlity and can be traded for roughly 1 usd worth of steem, in order to cash out from steem. Converting Steem backed dollars into STEEM takes 5 days. Users also recieve interest from holding SBD. T

Steem is a proof of work currency with a scheduled blocktime of 3 seconds. Steem PoW mining is done in rounds of 63 seconds by 21 miners (witnesses). 19 of the miners are pre voted, one is the other with the most computational power, and the last one is selected from a queue of witnesses that did not get on the top 19 voted witnesses.

90% of the block reward is allocated to a vest fund to reward curators and PoW miners, the other 10% are made liquid in the form of steem and are used to reward content creators. Steem gets converted to Steem Backed Dollars and sent to the content creator.

 


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