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project icon for steem

Steem

STEEM
$0.1446
0.07%
Positive delta icon
project icon for steem-dollars

Steem Dollars

SBD
n/a

Steem is a token-incentivised social media platform that intends to reward users for their contributions to the community.

Overview

Project Stage

Live status icon

Amount Raised

Market Cap

STEEM
SBD
$53MM

Sector

Social Networks

Blockchain

Native token icon

Steem

Funding Source

Project Profile

Steem.it was founded by Dan Larimer and Ned Scott. CTO Dan Larimer co-founded Bitshares and BitUSD. In his Steem.it autobiography, he explained that he founded Steem.it as an economic system and a community that expresses the basic premise “everyone who brings value deserves a share.” CEO Ned Scott met Dan through the Bitshares project and, after meeting in person, they decided to launch a blockchain project focused on community. They developed the business plan in January 2016 and launched the main.net in March 2016. The system issued its first payout on July 4th, 2016.

Steem is a token-incentivized and user-curated blogging and media platform, designed to minimize advertising revenue’s influence on content and quality thereof, an issue faced by many media platforms. Steem is one of Dan Larimer’s prolific projects that utilizes a Delegated Proof of Stake (DPoS) consensus mechanism to increase transaction throughput in less time and at the expense of less energy than preceding blockchain implementations. An emphasis on usability and low transaction fees is essential for a platform that is seeking to rival the UX of popular social media platforms, such as Reddit.

Project Details

Steem’s primary offering is user-curated content and a means for rewarding contributions to the platform. Steem also has several features focused on providing a smooth UX, such as stolen account recovery and escrow services. Users have multiple keys for various degrees of required security for different types of actions on the platform, ranging from a key required for posting or engaging with content to one enabling users to restore their offline-stored accounts entirely.

Like other of Dan Larimer’s projects, Steem utilize a Delegated Proof of Stake consensus mechanism to enable short block times, with a new set of transactions committed to the chain every 3 seconds. A system of witnesses elected by token-holders within the DPoS system act to decide on which version of events to agree at each potential fork. As of Q3 2019, new developments will be funded by the Steem.DAO, which allows Steem users to propose and vote for work to be performed that is compensated with Steem dollars (SBDs).

Asset Details

STEEM tokens are one of several tokens on the Steem blockchain and are exchangeable for Steem Blockchain Dollars (SBDs), designed to be pegged to USD; STEEM tokens can also be deposited to produce Steem Power, the acquisition of more Steem Power also entitles holders to a greater share of the bandwidth on the network. STEEM tokens must deposit tokens in a 13 week lockup scheme to gain voting rights, whis is meant to discourage those with a short-term interest in the token from participation. The motivation to acquire Steem Power comes from user’s being afforded a fraction of the available network bandwidth, varying along with usage such that more bandwidth will be afforded individually when network usage is low, beyond which their actions on the network will be de-prioritized.

The Steem blockchain issues new tokens at a decreasing rate of 0.5% annually, starting at 9.5% inflation in December 2016. Of the new tokens issued 75% are allocated to a rewards pool which will be granted to content creators and curators on the network for their contributions.

Smart Media Tokens (SMTs) are proposed to help businesses issue use case specific token incentive structures that benefit from Steem’s exchange functionality and user base. Each SMT issued would have a configurable supply, inflation schedule and algorithms determining their distribution and thereby the types of content to be incentivized.

project icon for steem

Steem

STEEM

Project Assets

project icon for steem
STEEM
$0.1446
0.07%
Positive delta icon
project icon for steem-dollars
SBD
Negative delta icon

Steem is a token-incentivised social media platform that intends to reward users for their contributions to the community.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
STEEM
SBD
$53MM
Native token icon

Steem

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Social Networks

Project Profile

Steem.it was founded by Dan Larimer and Ned Scott. CTO Dan Larimer co-founded Bitshares and BitUSD. In his Steem.it autobiography, he explained that he founded Steem.it as an economic system and a community that expresses the basic premise “everyone who brings value deserves a share.” CEO Ned Scott met Dan through the Bitshares project and, after meeting in person, they decided to launch a blockchain project focused on community. They developed the business plan in January 2016 and launched the main.net in March 2016. The system issued its first payout on July 4th, 2016.

Steem is a token-incentivized and user-curated blogging and media platform, designed to minimize advertising revenue’s influence on content and quality thereof, an issue faced by many media platforms. Steem is one of Dan Larimer’s prolific projects that utilizes a Delegated Proof of Stake (DPoS) consensus mechanism to increase transaction throughput in less time and at the expense of less energy than preceding blockchain implementations. An emphasis on usability and low transaction fees is essential for a platform that is seeking to rival the UX of popular social media platforms, such as Reddit.

Project Details

Steem’s primary offering is user-curated content and a means for rewarding contributions to the platform. Steem also has several features focused on providing a smooth UX, such as stolen account recovery and escrow services. Users have multiple keys for various degrees of required security for different types of actions on the platform, ranging from a key required for posting or engaging with content to one enabling users to restore their offline-stored accounts entirely.

Like other of Dan Larimer’s projects, Steem utilize a Delegated Proof of Stake consensus mechanism to enable short block times, with a new set of transactions committed to the chain every 3 seconds. A system of witnesses elected by token-holders within the DPoS system act to decide on which version of events to agree at each potential fork. As of Q3 2019, new developments will be funded by the Steem.DAO, which allows Steem users to propose and vote for work to be performed that is compensated with Steem dollars (SBDs).

Asset Details

STEEM tokens are one of several tokens on the Steem blockchain and are exchangeable for Steem Blockchain Dollars (SBDs), designed to be pegged to USD; STEEM tokens can also be deposited to produce Steem Power, the acquisition of more Steem Power also entitles holders to a greater share of the bandwidth on the network. STEEM tokens must deposit tokens in a 13 week lockup scheme to gain voting rights, whis is meant to discourage those with a short-term interest in the token from participation. The motivation to acquire Steem Power comes from user’s being afforded a fraction of the available network bandwidth, varying along with usage such that more bandwidth will be afforded individually when network usage is low, beyond which their actions on the network will be de-prioritized.

The Steem blockchain issues new tokens at a decreasing rate of 0.5% annually, starting at 9.5% inflation in December 2016. Of the new tokens issued 75% are allocated to a rewards pool which will be granted to content creators and curators on the network for their contributions.

Smart Media Tokens (SMTs) are proposed to help businesses issue use case specific token incentive structures that benefit from Steem’s exchange functionality and user base. Each SMT issued would have a configurable supply, inflation schedule and algorithms determining their distribution and thereby the types of content to be incentivized.

Recent News

Binance to support Steem hard fork despite reservations.

Binance has announced that despite having major reservations about the Steem hard fork, that it will ultimately support the network split. In a blog post, Binance CEO Changpeng Zhao stated that the exchange will support the hard fork so that its users do not lose access to their STEEM tokens. Despite this, Zhao commented that Binance is strongly opposed to the hard fork’s attempt to confiscate STEEM tokens from the 64 parties targeted in the network split and that such moves demonstrate that Steem is “overly centralized”.

May 25, 2020

Sources:

CoinDesk,Binance

Steem network undergoes hard fork.

A hard fork occurred on the Steem blockchain on Tuesday, resulting in tokens being taken from entities that participated in the creation of the Hive blockchain network which itself originated through a split with the Steem network earlier this year. The hard fork means that 64 validators on the Steem network who participated in the creation of Hive will collectively lose 23.6 million STEEM tokens.

May 21, 2020

Sources:

CoinDesk

The Steem blockchain faces a hard fork in an effort to remove Steemit Inc., following governance issues with Justin Sun.

A collection of Steem community members have scheduled a hard fork for March 20, with a new blockchain, called Hive, set to emerge. The network will use the same codebase of Steem and continue to use delegated proof of stake (DPoS), only making some small technical alterations. The news came from SteemPeak, a frontend interface for the Steem network who apparently has the support of over 30 developers as well as a wider community pool. Separately, Blocktrades, a Steem validator stated on Monday that Steemit Inc. the social media application that Justin Sun bought, now has "nearly zero value”. In its post, the validator claimed that Sun has destroyed the business’s value as evidenced by the exodus of most of its developers. This latest dynamic follows an earlier hard fork initiated by Sun in an attempt to resolidify his influence over the Steem network through ownership of Steem tokens.

March 18, 2020

Sources:

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project icon for steem

Steem

STEEM

Project Assets

project icon for steem
STEEM
$0.1446
0.07%
Positive delta icon
project icon for steem-dollars
SBD
Negative delta icon

Steem is a token-incentivised social media platform that intends to reward users for their contributions to the community.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Live status icon
Live
STEEM
SBD
$53MM
Native token icon

Steem

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Social Networks

Project Profile

Steem.it was founded by Dan Larimer and Ned Scott. CTO Dan Larimer co-founded Bitshares and BitUSD. In his Steem.it autobiography, he explained that he founded Steem.it as an economic system and a community that expresses the basic premise “everyone who brings value deserves a share.” CEO Ned Scott met Dan through the Bitshares project and, after meeting in person, they decided to launch a blockchain project focused on community. They developed the business plan in January 2016 and launched the main.net in March 2016. The system issued its first payout on July 4th, 2016.

Steem is a token-incentivized and user-curated blogging and media platform, designed to minimize advertising revenue’s influence on content and quality thereof, an issue faced by many media platforms. Steem is one of Dan Larimer’s prolific projects that utilizes a Delegated Proof of Stake (DPoS) consensus mechanism to increase transaction throughput in less time and at the expense of less energy than preceding blockchain implementations. An emphasis on usability and low transaction fees is essential for a platform that is seeking to rival the UX of popular social media platforms, such as Reddit.

Project Details

Steem’s primary offering is user-curated content and a means for rewarding contributions to the platform. Steem also has several features focused on providing a smooth UX, such as stolen account recovery and escrow services. Users have multiple keys for various degrees of required security for different types of actions on the platform, ranging from a key required for posting or engaging with content to one enabling users to restore their offline-stored accounts entirely.

Like other of Dan Larimer’s projects, Steem utilize a Delegated Proof of Stake consensus mechanism to enable short block times, with a new set of transactions committed to the chain every 3 seconds. A system of witnesses elected by token-holders within the DPoS system act to decide on which version of events to agree at each potential fork. As of Q3 2019, new developments will be funded by the Steem.DAO, which allows Steem users to propose and vote for work to be performed that is compensated with Steem dollars (SBDs).

Asset Details

STEEM tokens are one of several tokens on the Steem blockchain and are exchangeable for Steem Blockchain Dollars (SBDs), designed to be pegged to USD; STEEM tokens can also be deposited to produce Steem Power, the acquisition of more Steem Power also entitles holders to a greater share of the bandwidth on the network. STEEM tokens must deposit tokens in a 13 week lockup scheme to gain voting rights, whis is meant to discourage those with a short-term interest in the token from participation. The motivation to acquire Steem Power comes from user’s being afforded a fraction of the available network bandwidth, varying along with usage such that more bandwidth will be afforded individually when network usage is low, beyond which their actions on the network will be de-prioritized.

The Steem blockchain issues new tokens at a decreasing rate of 0.5% annually, starting at 9.5% inflation in December 2016. Of the new tokens issued 75% are allocated to a rewards pool which will be granted to content creators and curators on the network for their contributions.

Smart Media Tokens (SMTs) are proposed to help businesses issue use case specific token incentive structures that benefit from Steem’s exchange functionality and user base. Each SMT issued would have a configurable supply, inflation schedule and algorithms determining their distribution and thereby the types of content to be incentivized.

Recent News

Binance to support Steem hard fork despite reservations.

Binance has announced that despite having major reservations about the Steem hard fork, that it will ultimately support the network split. In a blog post, Binance CEO Changpeng Zhao stated that the exchange will support the hard fork so that its users do not lose access to their STEEM tokens. Despite this, Zhao commented that Binance is strongly opposed to the hard fork’s attempt to confiscate STEEM tokens from the 64 parties targeted in the network split and that such moves demonstrate that Steem is “overly centralized”.

May 25, 2020

Sources:

CoinDesk,Binance

Steem network undergoes hard fork.

A hard fork occurred on the Steem blockchain on Tuesday, resulting in tokens being taken from entities that participated in the creation of the Hive blockchain network which itself originated through a split with the Steem network earlier this year. The hard fork means that 64 validators on the Steem network who participated in the creation of Hive will collectively lose 23.6 million STEEM tokens.

May 21, 2020

Sources:

CoinDesk

The Steem blockchain faces a hard fork in an effort to remove Steemit Inc., following governance issues with Justin Sun.

A collection of Steem community members have scheduled a hard fork for March 20, with a new blockchain, called Hive, set to emerge. The network will use the same codebase of Steem and continue to use delegated proof of stake (DPoS), only making some small technical alterations. The news came from SteemPeak, a frontend interface for the Steem network who apparently has the support of over 30 developers as well as a wider community pool. Separately, Blocktrades, a Steem validator stated on Monday that Steemit Inc. the social media application that Justin Sun bought, now has "nearly zero value”. In its post, the validator claimed that Sun has destroyed the business’s value as evidenced by the exodus of most of its developers. This latest dynamic follows an earlier hard fork initiated by Sun in an attempt to resolidify his influence over the Steem network through ownership of Steem tokens.

March 18, 2020

Sources:

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