Steemit and its cryptocurrencies

Steem has three digital tokens that make up the Steemit ecosystem: STEEM, Steem Power (SP) and Steem Dollars.

• STEEM:

This is the official cryptocurrency on which the Steemit community is based. STEEM can be exchanged for other digital currencies like Bitcoin through several outstanding exchange platforms, you can obtain it by purchasing an excange, or from the performance and work you dedicate to Steemit. However, to cast votes, you must convert your STEEM to Steem Power (SP). This process is known as "on". You can also convert STEEM to Steem Dollars.
It is important to note that, unlike other cryptocurrencies, the Steem does not have a limitation control in terms of unit generation. The amount of Steems increases by 100% annually, so there is no fixed amount, but it increases every year.

• Steem Power (SP):

When you convert STEEM into Steem Power, you are investing it in the network as capital. A STEEM unit, invested as Steem Power, is equivalent to one vote. Those with more Steem Power to contribute have the most influence over what content rises to the top. The ascending and negative votes, or "flags", of users who have large amounts of Steem Power are worth more than those of users with less Steem Power. In addition, around 90% of the new STEEMs created are for users who have a large amount of Steem Power, which creates an incentive for participants to invest their profits in the network again. The speed limits are in effect when Steem Power is converted back into STEEM, known as "off".

• Steem Dollars:

The Steem Dollar is presented as an asset that should have more or less the same value as the US dollar, as do the stablecoins.

As we have said, Steem Dollars maintain a 1: 1 ratio to the US dollar. They generate a 10% annual interest as long as they stay within the platform and its value does not exceed that of 1 USD; if so, the generation of interest stops. On the other hand, if the value of the Steem Dollars is below 1 USD, and if the amount of them is small too, then the generation of interest increases.