Steem is a blockchain based social media platform that was launched on March 2016 by the creator of Bitshares Dan Larimer and Ned Scott. by the may of 2017 Steem had already gained 170,000 accounts.
The team behind steem have gone a slightly different route than the normal crypto currencies. With steem it is a bit more like Reddit, Steems users organize content for Steem and in return they receive Steem and Steem dollars. Steem is a crypto currency coin and Steem dollars are joined to the US Dollar. All of the content is saved in the blockchain so users can upload content like comments,images and even multimedia. This then allows its users to vote on comments images etc. and the users who have posted then get rewarded. The more votes and content user gets and submits the more Steem power that user has. Each Steem account will go up or down depending on how many positive and negative votes this then makes users want to do the best they can avoiding negative comments or bad content and creates a better platform for everyone. Steem also has an app very similar to Instagram that users can down load and help create better posts. The steem blockchain has been designed to make its users have very a fast and efficient experience, while also at the same time hosting photos, comments and multimedia. The Steem Blockchain allows other websites and apps to join without permission. The steem Blockchain is also easy to use, unlike most other blockchains that use cryptographic hashes for addresses. Steem does not it uses an alphanumeric account names that is far easier for the user to understand.
Pros to Steem
- Respectful community of people
- Get paid for adding content and surfing the web
- Wide range of posts and images
- Easy to use
- Fast and easy
Cons to Steem
- Lack of comments
- Risk of decrease in value
- New and not very well known of
I think Steem has a very promising future people love social media and to get rewarded for adding content is a great idea. Imagine if you got paid every time you added something on Facebook. It is a fresh new way to go about business and I think it will soon become very popular and the fact the team has already come up with this i’m I sure they will be adding new ideas in the future
Should you Sit on Your Steem
I think defiantly I think that Steem will rocket to be one of the top cryptos very soon. It is a innovative fresh idea and I think people will love it. I think this is defiantly one to look out for and well worth investing in as more people here about Steem and more people sign up it will just go from strength to strength. I think it has been very well developed and is a great new fresh platform.
Have you invested in Steem? How would you rate it? Choose below