Author rewards here are subjective proof of work, same econ as btc mining!
New users trying to grasp the concept of the STEEM-Network may not immediately be an easy task if we complicate too much, so let me try to explain where you are, why and how it works and what you should expect for the future.
There are three things you should know about the STEEM-Network
- author rewards here are subjective proof of work, same econ as btc mining
- curation rewards here are variable proof of stake, same econ as a hybrid
- Witnessing is delegated proof of stake, we have voted for them with our stake to run the network.
Alright, so now you know the basics of how the tokens are being made, a fixed number of coins per day are being made, and most of them goes to Authors of posts, some of it goes to curators and some of it goes to the witnesses (9.5% total inflation per year with a steady decrease)
So - what about Difficulty?
Difficulty based on Author-activities, if a lot of posts are made every day, the Difficulty goes up. Which means that people would have to buy more SteemPower to keep up with the attention-economy, and grow a real fan-base or followers that read what you write and comments below and give you an upvote.
But right now, it is easy - you came to the right place at the right time. Welcome to the future!
Want to make more connections and friends on the STEEM-Network? Come and join us at SteemSpeak.com and let us get to know you better
Today: 212 new accounts (8 mined); 4564 active accounts; 1737 posts (926 authors); 7486 comments (477 authors); 138716 votes (2865 voters) Yesterday: 217 new accounts (0 mined); 4073 active accounts; 1972 posts (1049 authors); 7868 comments (409 authors); 176846 votes (2679 voters)
Total Reward Fund: 80,691 STEEM (Worth: $12,911 internally; $15,249 on Poloniex)