Steem market forecast for 2021: Will the social coin appreciate in value?

Steem market forecast for 2021: Will the social coin appreciate in value?

Nicole Willing's formal name is Nicole Willing.
Nicole Willing's formal name is Nicole Willing.
12:06 p.m., April 29, 2021
Steem's price rose earlier this month when cryptocurrency stocks rallied, and it is still at its highest level since 2018, after a small drop – is it a successful buy?

The Steem protocol is a social blockchain database that compensates users for content sharing. It controls social media applications like the Steemit blogging platform. Users become network owners, receiving cryptocurrency for their donations while retaining ownership over their data.

Steemit Inc was founded in 2016 by business operations and financial analyst Ned Scott and software developer Dan Larimer to develop the Steem protocol, though Larimer left in 2017. Steemit was the first application to be released on the Steem blockchain.

Steem coins are native cryptocurrency tokens that operate on the blockchain. Online technology developers will generate Smart Media Tokens (SMTs) as native digital assets to incentivize users to invest in the network and help it expand.

The protocol maintains a token incentives pool to incentivize content development and curation, as well as a voting mechanism that allows the group to determine the worth of content and assign tokens.