Steemit Crypto Academy Contest / S8W5 - "Let's Think About Steemit's Future"
Assalam-o-Alaikum |
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Hello everyone I hope you are all ok and enjoy the good life by the grace of Allah Almighty I am here for the participate in the amazing engagement challenge which organised by the SteemitCryptoAcademy the name of this challenge is Let's Think About Steemit's Future so let's start;
What is Steemit And How Does It Work |
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Steemit is a decentralized blogging platform that allows is uses to share the content of different type. It is a decentralized platform and one can share the blog or publications to earn the good rewards. We can share the content of any type on the platform such as food dairy games , crypto knowledge and all the activities that we perform in our daily life. Along with the earning it also provide the vast environment of learning.
The bloggers on the platform are rewarded on the basis of their quality content and their participation in the growth of the platform Steemit is working from many time and also faces a lots of ups and downs but still it is the growing platform and attracting the new users everyday. Blogging platform was launched in 2016 and earn a great reputation in the blogging due to its exceptional reward system and the price of tokens that are divided.
The platform has the system of reputation and scores also that increases when we got more upvotes. They increase in reputation helps the user to enhance the influence on the platform. Another design is of steem power that increases as we got more upvotes and have the more tokens of Steem in our wallets.
Steemit has the system of sharing the content and this content is supported on voted by other users on the platform that increases the reward of the post. The reward is divided into two parts one is
Curation Rewards:
Reward is given to the people that has upvoted on the post of any person.Author Rewards:
The other reward is given to the person that have shared the content or created the content.
It is a blockchain of the decentralized system it's not controlled by any single authority but there are many that approved the nodes or transactions on the platform. The system work on the principle of (DoPs) in which the blocks and nodes are approved by system that can also be supported by the respective user. If we upvote any witness it helps to validate the transactions that we performed on the platform.
In return they got the Steemtoken. Steem token is a major token of the platform that is rewarded from the posts that we shared with other users. As these Steem token increases in our wallets we can also power them up to buy the Steem power that helps us to increase the worth of our votes as well as our reputation on the platform.
In summarize way Steemit is a vast decentralized blogging platform that rewards the user in return to create the quality content.There are many token that the user can recieve in rewards if he got the good upvotes such as the Steem , SBD(Token not coming due to low market values) and TRX.
What Is STEEM Coin And How Does Steemit Make It's Money |
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Steem coin is cryptocurrency like other such as Bitcoin Etherum etc. Steem token is considered as the native coin of the Steemit platform that is rewarded to the users that are working or creating the content for the platform.
The quantity of the steem token depends upon the upvotes that a user receive on his Publication. When a Publication is supported or got upvote it will payout after the 7 days after 7 days the user receive the token in their wallets. We can also utilise the token for the trading and can also change the token to the our local currencey.
So the Steem token or coin is considered as the main token of the platform.We can also powerup the token to increase the SP that helps to grow the worth of the upvote and increase the curation rewards of the users.We can also buy the steem token from different exchanges and trade them in the market .It also has the good market value.
Steemit makes it money by getting the Steem tokens that comes after the posts of the users are payout . If it will have the more active users there will be more posts and payouts that effects the growth of the platform.More users will increase the overall earnings of the platform or the blockchain system.
It is a blockchain system that was built like the social media platform like facebook ,twitter where users can interact with each other ,share their content and also rewarded in return in the form of Steem Token. As the number of users increase the earnings of the platform increase and in return the worth of the token will increase.So we can attract the more user on the platform by promotion on different platforms to increase the worth.
What Is The Current Price Of STEEM At Coinmarket. Explain Your Understanding Of what You know About This Current Price And The Situation Surrounding It. |
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Steem is a good token for the investment and it is available in many exchanges and platforms.When the token was relased it touched to high price but now the price of the coin is relatively low. The Price of the Steem token is also volatile like other cryptocurrencies. When the overall market value is up the price of the token also increases.
There are also many other factors that effect the price of the Steem token like if the investors of the coins decreases the overall price will also decrease.From the previous year the whole market is going to the bearish trend and the price of the Steem is also low.
The current price of the Steem Token you can see in the below Screenshots.
Steem price is not going up now and also it is corresponding to the current market value. When the Bitcoin that is the major cryptocurrencey increases the market value of the Steem also increases and its decrease cause the bullish trend.
Due to the low market values another token that is SBD is not coming up in rewards.For this sake the platform has taken the important steps such as the setting the beneficiary to the null that helps to increase the value of the Token.
Another step that is taken to increase the value is promoting club system in which mostly users. Power up their assets instead of withdrawing that in return increases the supply of the token as compared to the demand and the prices go to the bullish trend.
We are hopeful that in the future the market will caught up the bullish trend and the prices of the steem token will also increase and we got the major token of the platform SbD back in our wallets.
Is Steem Coin Good For investment? As A Crypto Analyst, What Can Be Done For STEEM Coin To Reach A Maximum Supply And Becomes Top 100 Crypto Currencies In The World. |
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Steem token has the good market value and is considered as good coin for the investment due to the volatile nature and the value of the currencey. Steem token can be reached to its maximum value by the efforts of the team in its development and the prices can go beyond by increasing the usage of Steem on the platform.
As I already said that the market is in the bullish trend so staking of Steem in this case is a good investment. The price of the Steem token was high before and now in the future by the efforts of the team in different projects and initiatives to increase the price will boost its value.
Steem token is volatile and by the market analysis we can see that market is entering to the netural position there are the chances that the market will trend up. To increase the maximum supply of the Steem the team has already taken the steps such as the support to null the rewards go to the no account which will go in return to the total supply other step like the initative of staking of Steem is also helpful.
The prices of the staking Steem and its usage on the blockchain helps to increase the total supply and due to high supply and less demands Steem is stabilizing its price.
We have seen the positive change.The other way to increase the Steem prices is Attracting more users to the platform that will increase the supply.This can be happend by the promotion of the Steem so that the most imvestor invest in the token. Another way is by making contracts with the other crypto tokens or the cryptocurrencies and by using the technology for this sake.
How Can We Do To Solidify STEEM Offering In Terms Of Technology And Operating System Inorder To Attract More Investor? |
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There are different things that we should do to improve the Steem ecosystem and improve the working of it to prove the solidify of the Steemit platform and the token there are some important things that o consider very much important in this regard.
- Promotion of Steemit:
Promotion is the most important thing of every business and a business can never grow well if there is no good promotion schemes by the platform so the Steem ecosystem must adopt different promotional schemes to improve the system and attract more and more investors in the system.
- Continuous Development:
Development of the blockchains is very much important to avail the users with the best possible features and functions that are introduced new in the digital world so if there is a great awareness about the development of Steem and the development team is very much active then possibly Steem ecosystem can attractive more potential investors.
- Educative Seminars:
The knowledge about the Steem platform is also very much important to wide spread because in this why the users can learn about different techniques and elements that are the main part of the system and thus the investors are atrracted more and more.
- Burning and Staking Systems:
The most important thing that every investors want is the successful and charming future of the project in which he is investing his money so of different burning and staking schemes are run by the Steem ecosystem then the price will be maintained and more potential investors are atrracted towards the platform.
- Integration with other blockchains:
Unity is strength is a very common word and we mostly say that if there are more parties behind a business then there is more chances of the high success of that business the Steem ecosystem must have to make good relations with the othet platforms of blockchain to invest more potential investors from those blockchains and alsl from other areas.
Thank you
Everyone knows who are working at this platform that we can earn by which ways one is the way of earning from writing the blogs at this platform and the other one way is by curation. You did the great job that you have told us about which kind of articles we can write at this platform either we are earning the cryptocurrencies from this platform but still if we don't know a lot about the Crypto so no worries if we just have knowledge and we want to share it with others and to gain knowledge from other articles + if we also point to earn a money then this platform is a best option for sharing knowledge because it is a decentralised platform also as you have also shared with us.
You have shared in a very good way about investment at steemit. You are right that this coin is of volatile nature so we can trust at this coin and in my point of view also it is good for investment purposes but first of all investor make its research on I have said this thing many times because it's very important to investigate all the matters itself first.
Wish you good luck and success
TEAM 1
Congratulations! Your Comment has been upvoted through steemcurator04. We support good comments anywhere..Thanks @suboohi
You have done a very good work by giving a detailed explanation. steemit platform offers great opportunities. The provision of very amazing and educative communities is very awesome. This communities enlightens us about so many things that most of us don’t know before. I have personally learnt alot from this platform. All thanks to the steemit team for the hard work they are putting to see that the platform is progressing. The steem coin is good for investment, despite the fact that the price went low. we all know that’s the normal nature of crypto. I believe the steem coin will attract the attention of more investors.
A very good post, wish you success in the contest.
We support quality posts anywhere and any tags.
Curated by : @steemdoctor1
TEAM 1
Congratulations! This post has been upvoted through steemcurator04. We support quality posts , good comments anywhere and any tags.@cryptoloover
You have explained the topic very well and give detailed information about steemit and its working and though reading your post i get good information to improve my few questions anout steemit working.
You have tell us in detail about the steem coin its price and its tendency in market.
You have give good information how we can invest the steem coin although the market scenario is highly unpredictable. You gave good idea how investors can get more benefits.
Overall, the knowledge about crypto and steem coin was much impressive snd enables new comers to learn alot.
Success
Indeed you are a crypto lover, man you did perfectly in your article. I guess you were born for this please keep it up sir, in no distance time you would see it's profits
Indeed steem is a very good investment among other coins, steem is much more stable and powerful. So far Steem price has been trying to be break it resistance line to get a new all time high
You have written so well sir. All the Ideas of making STEEM rise that you have shared are all good ones sir. Indeed, you have much understanding about Steemit. I wish you best of luck.
A very good platform where everyone can create free content with a high level of copyright protection, of course all account users on this platform are very safe, moreover each of their quality content will be rewarded in the form of steem coin tokens which can increase income for all bloggers on all over the world. Social media has changed since the existence of the Steemit platform which supports its users in exchange for using digital currency. At a later time, the Steemit coin token will rise again, its price will be high, so new account users will compete to join this platform, of course it will also attract investors to buy up Steemit coins, thereby encouraging the volume of buying Steemit Coin tokens to become a high and dominant market capitalization. :)