What is Steemit? Information about STEEM
Steemit cryptocurrency is a cryptocurrency brand with many outstanding advantages that is appreciated in more than 1792 coins circulating on the market today. Let's learn about Steem Coin together to understand what is Steemit? And as well as their potential development in the future through this article!
What is Steemit?
What is Steemit Cryptocurrency? They are a cryptocurrency that distributes its energy to the Steemit platform (designed as a means of communication and advertising based on Blockchain technology ). Account holders will post content on Steemit and be rewarded for this post and editing work through Steem Coin.
Formation process
Steemit cryptocurrency was established just 2 years ago (in 2016) and is responsible for Ned scott and Dan Larimer, but the creator of this coin is BitShares. These people together founded the company Steemit Inc, controlled all activities of the Steemit web and contributed and invested a large amount of money for the good development of the Steemit platform.
What is special in the working mechanism of the Steem cryptocurrency?
In most cases, Steemit coins are exchanged for buying and selling, trading similar to other coins. Steem allows normal currency mining but is not the most optimal monetization option for users today. If you want to own Steemit cryptocurrency, you need to join the full Steemit network, the more active you are on this media, the more you will receive bonus coins with different levels, very attractive leading and extremely diverse.
How many units of Steemit main currency are owned by Steemit cryptocurrency?
When learning about regular Steem, there are 3 main currencies of Steemit, which are: Steem, Steem Dollars, Steem Power.
Steem: The most basic and potential unit in the Steem Blockchain account system, but other currencies are derived from Steem. This currency is used to buy other units such as Steem Dollars, Steem Power or convert to Bitcoin
Steem Dollars: A currency that is responsible for paying rewards to users' accounts when they have completed the content and posted and stored it on the Steem system. Estimated, if converted, 1 Steem Dollars will correspond to 1$ in common fiat currency. The purpose of creating Steem Dollars is to help users not be affected by the fluctuating rate of Steem coin. On average a year according to statistics, members of this network easily earn 10% interest per year if they work hard to post on this social media
Steem Power: A unit that represents the dominant amount of money that a certain account has stood up compared to the rest of the network. Owning more Steem Power will be more beneficial because it will affect and put great pressure on their votes and comments. In addition, Steem Power also considers, calculates the maximum weight of an account that allows voting in favor in some cases. In each established account, always reserve a small amount of Steem in the quiz but in the form of Steem Power. Once you have successfully created the content, you can optionally reward 100% Steem Power in place of 50% of the fiat currency and 50% of the Steem Power. Steem Power does not allow direct transfer or trading, users can only withdraw liquid Steem for weekly payment in a month at the default rate of 1/13 of total Steem Power.
Conclude
The development potential of this coin in the future is huge. Especially at a time when investors are directing their attention and concern in such a serious way. Thus, Bitcoin Vietnam News has just taken readers to research: What is Steem?. Hopefully, the article has provided you with useful and interesting information to make investment choices more reasonable and accurate!