What Is Steem?

Steem is a cryptocurrency used to power the platform Steemit - an incentivized blockchain social media platform.

Users create and curate content on Steemit just like other social news platforms (e.g. Reddit, Hacker News) and get rewarded in Steem for their work.

Steem Dollars
Steem dollars are the units used to reward users for posting and curating content.

Each Steem dollar represents the amount of Steem equivalent to 1 USD.

Steem dollars (or SMD) were created so that users won’t be affected by the fluctuating exchange rate of Steem.

Steem Power

Steem power (or SP) is a token symbolizing how much power you have inside the Steemit platform.

When you have a lot of SP your votes count more in the system. In fact you can’t vote if you don’t have any SP.

Steemit Platform

Unlike other cryptocurrencies Steem has a built in inflation of 100% annualy and no coin limit.

Getting Started With Steem

Steem, another advanced money made to boost the utilization of Steemit, another examination in web-based social networking, has detonated in the previous couple of days, taking third place after Ethereum, with a present market top of more than $200 million, yet would this be able to really work or is it only a craze?