Checkout the steem white paper https://steem.io/SteemWhitePaper.pdf
Provides a pretty good explanation and has been updated since this original post (power down now over 13 weeks as somebody already mentioned).
Checkout the steem white paper https://steem.io/SteemWhitePaper.pdf
Provides a pretty good explanation and has been updated since this original post (power down now over 13 weeks as somebody already mentioned).