Knowing Steem Blockchain #2: Steem, Steemit and tokens.
Greetings,
If there is something that make me happy is to teach something new, so I'm going to give you more information about our ecosystem, you will learn today the differences between STEEM, and Steemit and I will give you information about our tokens too. I hope you enhoy this content where I share with you something useful, let's know Steem blockchain.
Steem vs Steemit
Steem is a cryptocurrency token that runs on the Steem Blockchain which is a blockchain that works under DPoS consensous protocol where stakeholders can select witnesses to validate transactions.
Steemit, is a DAPP (Descentralized application) based on the Steem Blockchain where users can create content and win Steem tokens based on the votes that they receive from the community.
If we analize it we can deduce that Steem is the token that we receive for the work of creating content, the Steem Blockchain is the database that thirdparty services can use to interact with, and Steemit is an application that can be used to interact with this database.
this means that we can use the Steem Blockchain without passing for Steemit.com?
Yes, Steemit.com is just an application that is maintained by the Steemit Team but anyone can create another similar application and install it in another server to use Steem. In the past there where another interfaces but migrated after the hardfork. Steemit, is an open source application under the name of condenser and anyone can use it to deploy it a new version. The code can be found here:
Tokens
On Steem Blockchain there are 3 type of tokens we can earns and an additional token from another blockchain that support us, let's meet them:
STEEM, it is the first and our main token which can be bough in several exchangers such Binance or Poloniex. We can earn STEEM by sharing content and today October 20th it is at $0.21 being in the top #249 on Coinmarketcap.
STEEM POWER, It is the staked version of Steem, SP can't be transfered and the coldown period is 30 days. Steem Power is used to increase the individual influence because you will can distribute rewards on the dao account by voting others, post, comment, or do more things. As much staking you have much better cause you will can do more things. You can also win APR with staking.
SBD, it is literally Steem Based Dollar and is a stable coin that should be pegged it $1 but since 2020 it is not this way and it is above that (currently ~$2), when you create content the DAO account will give to you SBD, STEEM, or both according to several factors such debt ratio.
EXTRA, since 2020 the Steemit team introduced a new token for the authors and it is TRX, in alliance with the Tron Blockchain. Since then we were receiving TRX in a ratio of 1 SP:1 TRX but recently Steemit team announced that the ratio changed to 1 SP:0.5 TRX, but that is good.
Conclution
The Steem blockchain is the more generous blockchain in term of tokens that is around of the world, the descentralization offer a lot of possibilities to run projects, spread knowledge, develop yourself, improve your life, meet amazing people, and more. If you still not join, what are you waiting for? I let you the first episode:
 | Knowing Steem Blockchain #1: How to create a new account? |
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Good analysis...
In my view, I have a difference of opinion with you. In my opinion STEM , SBD and TRX are not tokens, but they are main coins (main crypto) produced from their own network namely steem blockchain...
whereas tokens are cryptos that are produced from the adoption of another party's blockchain network.
Hello bro, thanks for reading my content and supporting it,
First of all I'll reply you your both comments here to give a full reply.
Following the description that pelon53 gave us on Steemit Crypto Academy a while ago:
A token is simply "something" that cover a transactional issue a specific community, and that's what STEEM and SBD is, tokens that help to monetize content on Steem. Of course that's the main tokens on Steem blockchain, but there's not difference with any other token.
However, I feel some contradiction here:
You are telling that Steem, and SBD should not be called tokens cause they are main cryptos but here you add that the same tokens are provided by Steemit.com.
To clarify, Steemit.com is just a DAPP based on the Steem Blockchain, and Steem and SBD tokens are tokens that were generated with the creation of the blockchain itself. You can read the Steem white paper so you will have a better idea of what was included with the blockchain.
(TRX is a token that is offered by Steemit.com DAPP indeed)
Take on mind that before the STM integration you could not create tokens other way than using a sidechain,
Thanks again and let me know if you need to clarify some point,
Not on STEEM, but on Steemit.com...
if you create your own crypto project on the Steem Blockchain network, you can even create your own token...
So, STEEM, SBD and TRX are rewards from Steemit.com,