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RE: Understanding Steem's Economic Flaw, Its Effects on the Network, and How to Fix It.

in #steem5 years ago

Steam is a fast and fee-less digital token (named STEEM) that enables people to earn money, provide a scalable blockchain protocol 1 for universally accessible and unchanging contentBy using their brain (what can be called "proof of brain"), the two building blocks of this protocol, both blocken and token, depend on the reliability and long-term security and the integral part of each other's existence. steem has been successfully managed for one year, and it has now passed both the Bitcoin and Ithriyas to the number of transconsion. 3

Comparing with other blockchains, Steem is the first publicly accessible, in that case, with the databases-built incentivization system, as a content stored in plain text. It creates a public publishing platform, from which any internet application can collect and share information, which contributes to the most valuable content

Among the fields of crypto-currency, STEEM's unique features compare it to both "smart" and "social", such as Bitcoin and Ether. These two new token features originate from A pool of tokens dedicated to creating the first material and encouraging the carriage (called "the prize pool"). The second is a voting system that highlights the wisdom of the crowd to evaluate content prices and to distribute tokens. These two unique features are combined when called Proof-Off-Brain, which is a producer based on Proof-Off-Work 4, which emphasizes people's work in distributing tokens to public partners. STEEM in the evidence of the brain is constantly encouraging the members of the growing community to create social value by which their members build prizes as building materials.

As well as this development of Steve, the system provides improved advanced features such as Stony account recovery 5, escrow service, user-promoted content, a reputation system, as well as in addition to the progress of Blockken and Token Technology. This is when the second confirmation has been given to the users on all three transactions and zero transactions. This allows publishers and community builders to support the mission to bring smart and social currency across the internet

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