how steem works

STEEM is a blockchain-based social media platform where anyone can earn rewards.

Types of currencies offered

• STEEM : STEEM is rewarded to an author for every post he/she makes . one can convert STEEM to STEEM POWER by what is called powering up
• SBD : STEEM Dollars (SBD) are a new approach to creating a robust, counter-party free, pegged currency and holding SBD pays interest. SBD is always convertible to $1.00 worth of STEEM
• STEEM POWER : STEEM POWER controls how valuable the author is. The more STEEM POWER you have, the more you'll earn rewards on curation (explained later). STEEM POWER can be converted to STEEM by what is called powering down in 104 weekly instalments.

one can earn rewards by doing the following : -

• Posting rewards
  An author earn rewards by posting content valued by other steemians. The more upvotes you get, more would be your posting reward. posting reward is given after 24 hours of the post and next month

• Curation rewards
  one can earn curation rewards by upvoting content which might get popular. the more STEEM POWER you have, more valuable as an author you are, more would be your curation rewards

• Commitment rewards
  one can earn interest on holding liquid STEEM. The catch here is you should hold your STEEM by powering it up to take benefits of this reward

• Saving reward
  one can earn interest on holding SBD. The rate of interest is controlled by the numbers of miners mining STEEM.

• Mining rewards
  Anyone with a good internet connection and some server skills can make money by helping the network produce blocks and secure them with proof of work. Steem uses a mining algorithm and process that should eliminate mining pools and reward hosting a full node with a low-latency connection to the rest of the network. Miners earn 1% of market capital per annum.

• Market maker rewards
  The Steem blockchain provides a built-in exchange between STEEM and SBD (STEEM Backed Dollars). This decentralised exchange is designed to have the highest liquidity and lowest spread. This is achieved through free trades and subsidised liquidity providers.