Steem

#28
Price: $2.76681
Change(24h):
-6.93%
Volume(24h): $25,698,200
Market Cap: $710,157,950
Steem is the cryptocurrency circulating inside SteemIt - a decentralized blockchain platform oriented around original content. Based in New York and founded in 2016 by Ned Scott & Dan Larimer, the company aims to provide authors with rewards for articles published on its website. It uses a Proof-of-Brain algorithm that pays creators with coins on the basis of recognition and votes. The token is non-minable with a total supply of 270 million coins. Currently, there are about 600 000 users of the SteemIt platform.

Minable: No

Coin Prefix: STEEM

Type: Coin

Latest Hight: $4.65

Steem Markets

# Source: Pair: Price:
1
Binance
STEEM/BTC
$3.23946876
2
Bittrex
STEEM/BTC
$3.2356886472
3
Binance
STEEM/ETH
$3.252444204
4
Poloniex
STEEM/BTC
$2.8225135272
5
Binance
STEEM/BNB
$3.250943406
6
HitBTC
STEEM/BTC
$3.2526552
7
Poloniex
STEEM/ETH
$2.81125011096

STEEM & SteemIt

SteemIt is a social media platform on which users can create and share content and get paid for it. The platform has its native STEEM coins, which are used to reward content creators on the network. Thus, STEEM prices are correlated with the success of SteemIt.

Steem, the cryptocurrency, was created in March 2016, but the social platform wasn’t introduced until a couple of months later. The concept behind the idea was to create a blogging site and the content on the page to be saved in a blockchain. With the blockchain technology, users get rewarded for writing posts and comments.

Steem started trading at USD 0.65 on April 18, 2016 and closed January 2018 at USD 5.15. This means that the digital currency has climbed more than 700% in less than two years.

 
  • Type: Altcoin
  • Minable: No
  • Founder: Ned Scott & Dan Larimer
  • Launched: March 2016
  • Based in: New York, USA
 

Steem's price chart shows an all-time high of USD 8.97, reached on January 3, 2018. By mid-February, the price had fallen around 50% but still trading over 2500% higher compared to the previous year’s performance. Steem's price has fluctuated a little from that all-time high at beginning of January 2018.

 

Blockchain-powered social media

This implementation of the Blockchain technology inside a social media has never been done before and that’s what makes Steem so different. The cryptocurrency’s value lies within the integration of the social media, which motivates users to participate in the community. The platform is fast and has no fees. The company is prioritizing third-party app development with the goal of enlarging the ecosystem. One such app is D.Tube, which is similar to YouTube, but without the ads. It uses the Steem currency, instead.

 

Where and how to buy Steem

You can buy Steem from crypto exchanges (like Bittrex and OpenLedger), but you can also purchase it directly from Steemit.com. The blockchain company has two other tokens besides its main digital currency: Steem Dollars and Steem Power.

 

Wrapping it up

At this stage, with over 600 000 users, SteemIt is no longer in the concept phase but it is rather a fully-grown social media website. If traffic is a proxy for future success, then the currency could be poised to do big things. As of February 2018, Steemit.com ranks no. 1107 in the world and is in the top 600 in the US (according to Alexa), placing it among the world’s most active websites.