Steem is the name of the token that can be bought and sold on the open market, based on the blockchain-based platform Steemit
What is Steem (STEEM)?
Steem is a cryptocurrency used to power the platform Steemit– an incentivized blockchain social media platform. It is built over the blockchain mechanism and where people earn money for posting, sharing, curating and commenting contents. Steem is divided into STEEM and Steem Dollars which are fully trade-able tokens.
Steem (STEEM): History
Steemit was introduced by Ned Scott and Dan Larimer, CEO of BitShares in 2016. It aimed to build a social content platform similar to Reddit, but where the test content and metadata was preserved in the blockchain. The uses of blockchain would also help the creation of a system that rewards comments and posts. Steem started with a high inflationary supply model with 100% growth every year.
However, later in December 2016, the inflation was brought down to 9.5% per annum.
In July 2016, Steem market capitalization reached $405 million.
In March 2017. Dan Larimer resigned from the company.
How Does Steem (STEEM) Work?
Steem has two different tokens, both of which are measured against STEEM, the base token for the network. STEEM Power is the STEEM which has been put into Smart Contract mode, and it helps users to achieve more influence on the network. Steem dollars are STEEM tokens which are similar to an actual cryptocurrency and is possible to convert to Fiat currencies or used for payments and transactions. STEEM can be used to purchase Steem Dollars and vice versa because its network has an internal conversion exchange. The process takes 3.5 days, approximately.
Steem gives 75% of the reward to the authors and 25% of the reward to the curators.
How to Buy Steem (STEEM)?
First of all, you need to get a Steem wallet to store your coins. Then the next step is to convert your money into bitcoin. Now you can buy STEEM by using bitcoin. You can buy bitcoin by using Coinbase.
Steem (STEEM) Price Prediction 2018
STEEM can be a profitable investment option. Steem price equal to 4.587 USD at 2018-02-17. If you buy Steem for 100 dollars today, you will get a total of 21.803 STEEM. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-10 is 13.439 US Dollars. With a 5-year investment, the revenue is expected to be around +193.01%. Your current $100 investment may be up to $293.01 in 2022. Steem (STEEM) price today is $4.59 and have the current supply of 249,381,627 STEEM. The market cap value is $1,143,457,154 and the volume is marked as $18,490,100. Steem price prediction, Steem price forecast, Steem price and news, STEEM price forecast, STEEM price prediction 2018, What is the price of Steem 2018.