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Steem Blockchain

Blockchain - Steem Center

Blockchain - Steem Center

A blockchain is a distributed database that is used to maintain a continuously growing list of records, called blocks. Each block contains a timestamp and a link to a previous block. A blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for validating new blocks. By design, blockchains are inherently resistant to modification of the data. Once recorded, the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network. Functionally, a blockchain can serve as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically." Blockchains are secure by design and are an example of a distributed computing system with high byzantine fault tolerance. Decentralized consensus can therefore be achieved with a blockchain. This makes blockchains potentially suitable for the recording of events, medical records, and other records management activities, identity management, transaction processing, and documenting provenance. The first blockchain was conceptualised by Satoshi Nakamoto in 2008 and implemented the following year as a core component of the digital currency bitcoin, where it serves as the public ledger for all transactions. The invention of the blockchain for bitcoin made it the first digital currency to solve the double spending problem, without the use of a trusted authority or central server. The bitcoin design has been the inspiration for other applications. With the blockchain technology it has become possible to securely timestamp information in a decentralized and tamper-proof manner. Digital data can be has Continue reading >>

Steem (steem): A Social Media Platform With Rewards Blockchain Wtf

Steem (steem): A Social Media Platform With Rewards Blockchain Wtf

Steem: a truly rewardingsocial media platform Steem is a blockchain-based social media platform that incentivizes and rewards users for participating in the network and community. Their platform enables content creators, curators, readers, entrepreneurs, and so many more to take power back from todays social media networks, and gain control back over their content and activities on a public network. Steems Whitepaper explains their platform as a blockchain database that supports community building and social interaction with cryptocurrency rewards. The Whitepaper abstract goes on to state , An important key to inspiring participation in any community, currency or free market economy is a fair accounting system that consistently reflects each persons contribution. Steem is the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community. This seems to be the greatest explanation of the platforms concept and the intentions of the creators of Steem. Current social media platforms do not allow for their capabilities and functionalities as users, and contributions to the network are not rewarded at all, but rather taken advantage of through data collection and advertising schemes that buy that data. Below in the token section, we will discuss the rewards and incentives of the platform, as it goes hand-in-hand with the function of the STEEM token. The Steem token is referred to as STEEM (the same name, but captialized letters). STEEM functions as a rewards tool in the Steem network, so when you post valuable or well-liked content or if you up-vote content before anyone else, you can earn STEEM. An interesting and somewhat abstract aspect of Steems platform tokens is that they h Continue reading >>

Steemit - Wikipedia

Steemit - Wikipedia

This article relies too much on references to primary sources . Please improve this by adding secondary or tertiary sources . ( Learn how and when to remove this template message ) Steemit is a blogging and social networking website that uses its Steem blockchain -based rewards platform for publishers. [2] The Steem blockchain produces Steem and Steem Dollars which are magic bean tokens obtained for posting, discovering, and commenting on content. [3] (content is also available in several other languages, e.g. German or Spanish ) Steemit, Inc. is a privately held company based in New York City and headquartered in Virginia. The company was founded by Ned Scott, and Dan Larimer , creator of BitShares , and EOS . [4] [5] On July, 4th, 2016, Steemit, Inc. officially launched Steemit, a social media with virtual currency rewards that runs over the Steem blockchain. On July 1, 2016 Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. A little less than US$ 85,000 worth of Steem Dollars and Steem are reported to have been taken by the attackers. [6] User accounts can upvote posts and comments similar to other blogging websites or social news websites like Reddit , and the authors who get upvoted can receive a monetary reward in a cryptocurrency token named Steem and US dollar -pegged tokens called Steem Dollars. People are also rewarded for curating (discovering) popular content. Curating involves voting comments and post submissions. Vote strength and curation rewards are influenced by the amount of Steem Power held by the voter. [5] [7] Steemit includes third-party applications, such as d.tube, a decentralized video platform based on the InterPlanetary File System (IPFS) protocol. D.tube is similar to Continue reading >>

What Is Steem?

What Is Steem?

Steem is a cryptocurrency used to power the platform Steemit - an incentivized blockchain social media platform. Users create and curate content on Steemit just like other social news platforms (e.g. Reddit, Hacker News) and get rewarded in Steem for their work. Steem is the fundamental unit of account on the Steem blockchain. All other units (Steem dollars and Steem power) derive their value from the value of Steem. There is no need to hold on to Steem in its cryptocurrency form, it should be used either to buy Steem power, Steem dollars or be converted to Bitcoins . Steem increases in supply 100% each year. Steem was first published as a whitepaper in March 2016. The currency and platform were in Beta until July 4th 2016. Steem dollars are the units used to reward users for posting and curating content. Each Steem dollar represents the amount of Steem equivalent to 1 USD. Steem dollars (or SMD) were created so that users wont be affected by the fluctuating exchange rate of Steem. SMD are actually a promise, that when you come to cash out you will receive the USD equivalent in Steem of what youve earned. Steem dollars earn an interest rate of 10% annually. Steem power (or SP) is a token symbolizing how much power you have inside the Steemit platform. When you have a lot of SP your votes count more in the system. In fact you cant vote if you dont have any SP. Increasing your SP is known as powering up and decreasing it is known as powering down. The way to power down is basically to cash your SP into Steem. This can be done over a preiod of 104 weeks (2 years) in order to insure that users dont just cash out quickly and collapse the whole Steemit economy. Unlike other cryptocurrencies Steem has a built in inflation of 100% annualy and no coin limit. The platform itself Continue reading >>

Introduction To Steem A Blockchain Designed To Tokenize The Content Web

Introduction To Steem A Blockchain Designed To Tokenize The Content Web

Introduction to Steem A Blockchain Designed to Tokenize the Content Web Share on Facebook Share on Twitter Share on Telegram Share on LinkedIn Steem is the lifeblood of Steemit, the contagiously popular media platform that rewards its users for posting content. With no supply limit and built-in inflation rate, Steem is a radical cryptocurrency that opts for participation and bucks the trend of assetization. Publishers both amateur and seasoned can reap the benefits of Steemits cryptocurrency-based content platform, being rewarded with tokens for dishing up their musings whether curated or created. Readers can pick from a smorgasbord of topics, yet Steemit is laden with heavy notes of tech, with trending topics typically see-sawing between the areas of blockchain/cryptocurrency and talk of Steemits workings. Steem is arguably the foundation of the Steemit token trifecta, being accountable for the net value of Steem Dollars and Steem Power. Steemit is a blogging and social networking website on top of the Steem blockchain database. To understand Steems place in the unfolding decentralized economy, we must appreciate the colossal problem the Steemit project is tackling with brutish force. One would be hard-pressed to find a cryptocurrency advocate foreign to Steemit, the young, yet fantastically successful incentivized social media platform. Since its 2016 launch, Steemits success has been nothing short of meteoric, experiencing a frenetic growth seen only in the likes of viral internet institutions suchas Reddit, the platforms imposing predecessor. The problem it solves has plagued the content economy since the advent of the internet, where publishers have been unable to monetize effectively. For decades, content creators have had little choice but to engage affiliate ma Continue reading >>

Steem.io

Steem.io

Steem is a blockchain-based rewards platform for publishers to monetize content and grow community. Approx. USD rewards paid since June 2016: An SMT is a native digital asset on the Steem blockchain. SMTs can be launched by anyone to help monetize online content and create incentives to encourage desired user behavior. SMTs are like Ethereum's ERC-20 tokens, but with certain built-in Proof-of-Brain properties and a token distribution reward system designed specifically for digital content businesses. Proof-of-Brain is a type of tokens rewards algorithm that encourages people to create and curate content. It enables tokens to be distributed by "upvote" and "like"-based algorithms and can be integrated with websites to align incentives between application owners and community members to spur growth. Faster than Bitcoin and Ethereum, with no fees Running a rewards-based decentralized social network required new advances in blockchain technology. Steem is a next-generation blockchain, uniquely designed to run real-time applicaitons with near instant, fee-free transactions. Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum. Continue reading >>

How Does The Steem Blockchain Algorithm Function? - Quora

How Does The Steem Blockchain Algorithm Function? - Quora

How does the Steem blockchain algorithm function? Answered Nov 9, 2017 Author has 265 answers and 145.5k answer views Steem is the blockchain database which the social media platform Steemit plugs into. Created as an open source and publicly accessible blockchain database to support community building and social interaction with cryptocurrency rewards. In its release White Paper Steem declared itself as the first cryptocurrency that attempts to accurately and transparently reward an unbounded number of individuals who make subjective contributions to its community.[1] Steem blockchain platform is designed to address the major barriers to adoption and monetization of a social media based economy. It mimics the same techniques used to grow major social media platforms (like Facebook, Reddit and Medium) to bootstrap a successful cryptocurrency also called Steem (see Steem Tokens). In May 2016, before official launch and still in beta test, Steem and Steemit (the social media site that runs over Steem) co-founder Ned Scott declared to CoinReport that the uniqueness of Steem, where posts, comments and votes sit directly on the blockchain. This would allow Steem to be leveraged in a few new and different ways, including blockchain-based attribution, blockchain-based content rewards and blockchain-based reputation. The founders would like to see all of its potential leveraged and their goal is not just to create a vibrant social media platform with Steemit, but to see entrepreneurs from different walks of life leverage and integrate Steem as an open-source publishing platform.[2] After more than a year after released a new version of the Steem Whitepaper was annouced in August 30th, 2017. It was more technically accurate based on the current version of the blockchain. A few d Continue reading >>

What Is Steem And How Does It Work? A Basic Guide | Finder.com

What Is Steem And How Does It Work? A Basic Guide | Finder.com

Steemit, STEEM and social crypto explained What you need to know about Steem (STEEM), a social-media network powered by the blockchain. Steem represents a fusion of ideas, drawing from both social media and cryptocurrencies to create a new kind of platform. Anybody can create, share or upvote content on the Steem network, earning cryptocurrency tokens based on performance within the community. Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed. Steems main platform, called Steemit, is a social media network built on top of the Steem blockchain. Steemit is similar to popular content-driven social networks like Reddit and Medium, but it rewards users with cryptocurrency for their participation. Heres how it works: Fundamentally, the more value a particular piece of content provides to a greater number of people, the more the individuals responsible for creating and curating that content can earn. Users cast votes, creating a hierarchy of content. The more upvotes a post gets, the more it will earn. The platform also allows for downvotes, giving participants more fle Continue reading >>

What Is Steem? All About The First Blockchain-based Social Media Platform

What Is Steem? All About The First Blockchain-based Social Media Platform

Companies like Facebook, Twitter and Youtube have provided a platform on which their users can share content with other users. In turn, the platforms save the data of all interactions on their platforms sell this to advertisers. No matter how hard you worked on specific content, you will see little to no return for your input and the platforms profit from the value youve created. According to the founders of Steem, this needs to change. On their social media blockchain applications you can earn cryptocurrency with your content. Another revolutionary idea of Steem is that their social media platforms are completely decentralised. There is no central authority that censors content and storage, or sells user data to targeted advertising. The users decide how the platform will be used, look like and most importantly: what content is valuable. The Steem blockchain allows the creation of social media platforms on which creators of content are directly rewarded for their effort. This is made possible by a social media economy in which people are rewarded for the creation of content. Moreover, participation such as liking, sharing and upvoting will earn users micro-rewards as well. People can directly transfer minor rewards in Steem currency to the creator of a specific piece of content out of appreciation. Youre first response is probably: why would people pay for content if they have access to an almost unlimited supply of free content on other platforms. Lets look at the first social media platform built on the Steem blockchain, . On Steemit, creators of appreciated content are rewarded when their work gets upvoted by others. In turn, the people who upvoted content that turns out to be valued by a large group of Steemit users, are rewarded as well. Additionally, people that Continue reading >>

Blockchain Social Media Altcoin Steem Is Back In Top 10 Cryptocurrencies

Blockchain Social Media Altcoin Steem Is Back In Top 10 Cryptocurrencies

Blockchain Social Media Altcoin Steem is Back in Top 10 Cryptocurrencies Steem was one of the top contenders in the Crypto space until it started declining late last year, and was pushed back to the lower echelons. Now its back. Steem bounced back into the top 10 rankings on CoinMarketCap again on Tuesday, after losing some of its glory and having been wandering in the wilderness of crypto rankings for some months now. The Blockchain social media startup entered the market two years ago with the concept of sharing revenues with its users. The monetary incentive it was offering propelled it to higher heights, and in July 2016, Steem rose by more than 2,000 percent to reach more than $400 mln in market cap within two weeks. At the same time, its price also grew from $0.24 to $4.63. It was one of the top contenders in the crypto space until it started declining late last year, and finally, was pushed back to the lower echelons. In fact, at the advent of Steem, it had a lot of critics who branded it as a pump and dump and Ponzi scheme to reward early adopters. Going down so drastically might have left those detractors smiling. It actually gave out a lot of revenues to early adopters who had a good number of followers and could share popular content. It was believed by many that it was going to change the face of social media and make the likes of Facebook and Twitter obsolete if they do not adjust. In the early hours of Tuesday, it rose grandly by 66 percent to enter the top 10 ranks. Even later in the day when other altcoins were sinking, it stood still and was up by 6.12 percent. Currently, Steem has accumulated a market cap of more than $200 mln and a market price of $0.88. Despite occupying the number 10 spot, the Ethereum computer storage utility token Golem is pursui Continue reading >>

Youtube And Facebook Are Losing Creators To Blockchain-powered Rivals

Youtube And Facebook Are Losing Creators To Blockchain-powered Rivals

YouTube and Facebook Are Losing Creators to Blockchain-Powered Rivals Some say privacy concerns, censorship, and a coming ban on cryptocurrency ads are driving them away from the big names. Illustration: Joel Plosz for Bloomberg Businessweek Peter Furious Pete Czerwinski has close to 5 million YouTube followers , but they cant see most of his new videos there. To get 46 of the 71 weightlifting and competitive-eating videos hes posted in the past two months, fans have to use DTube . It looks a lot like YouTube, but video creators rely on donations from viewers instead of ad revenue, and the sites moderators rarely try to censor potentially offensive material. Czerwinski, who made the switch two months ago, has said he felt his material could no longer get the circulation it deserved on YouTube. He didnt respond to requests for comment. While YouTube has had to start taking a tougher line on censoring offensive videos that advertisers dont want to be associated with, a growing swath of creators have fled to sites such asDTube to avoid the constraints. Like other upstart sites, DTube runs on the blockchain network Steem, and users can pay creators and commentersin digital tokens. Thats another point of distinction with YouTube, as well as with Facebook and Twitter.All three advertising-driven sites are phasing out ads for cryptocurrencies, shielding themselves from potential legal liability if the ads are scams or the digital coins are eventually regulated as securities. Video creators with an interest in cryptocurrencysay thats also a factor driving them away from the big names. In the wake of Facebooks data scandal, privacy is a third. YouTube didnt respond to a request for comment for this story;Facebook referred to previous statements that the company is working to re Continue reading >>

Steemit Bridges Blockchain And Social Media, But How Does It Work?

Steemit Bridges Blockchain And Social Media, But How Does It Work?

Steemit Bridges Blockchain and Social Media, But How Does It Work? Aug 13, 2016 at 15:43 UTC|UpdatedAug 26, 2016 at 18:47 UTC When an obscure cryptocurrency with a total market cap of approximately $14m skyrockets to over $400m, people take notice. But,when that cryptocurrency forms the backbone of a social media entity rewarding people for creating content, sometimes with thousands or tens of thousands of dollars for single posts, excitement and skepticism ensues. Launched in March and gaining prominence in July ,Steemit, a self-described "blockchain-based social media platform", has seen this level of notoriety in just its first few months of operation. To date, it has polarized blockchain experts whilewinning scores of newcomers to the technology. The brain-child of Daniel Larimer, founder of BitShares , and Ned Scott, a former financial analyst, Steemit aims to provide a place for individuals to create content, promotethe content they believe is good and comment on stories -- all while earning money. But Steemit is more than just a website for earning spare change. It's an actual blockchain built on a piece of technology developed by Larimer called Graphene, which allows for the deployment of application-specific blockchains. Scott, in interview with CoinDesk, explained that the team only had the idea for Steemit back in January and, because of the Graphene framework, they were able to quickly roll the project out. The rest, like most things in the blockchain space, is a bit difficult to explain. For the first few months,there wasn't much talk about Steemit. While there were early miners and people contributing content, the real big bang didn't come until4th July. When the dam opened, $1.3m worth of stored-up blockchain-based currency called "steem" was released to Continue reading >>

New Social Media App On The Steem Blockchain Hopes To Bring Crypto To New User Base

New Social Media App On The Steem Blockchain Hopes To Bring Crypto To New User Base

A company planning to be the first to use Smart Media Tokens (SMT) on the highly-rated Steem blockchain is aiming to bring cryptocurrency to millions of new users by paying them to use social media. APPICS is following in the footsteps of others who have used crypto to reward those who post popular content, but will completely revolutionize the concept by paying ordinary users as well, returning the value of the network back to the content creators and curators. The start-up, which has its ICO set for 28 March and plans to launch its app in alpha mode in Q3 2018, hopes to introduce the average social media user to the crypto world with an easy user experience and the promise of a more generous and transparent distribution of rewards. It claims that, unlike on other popular social media sites which are run in the interests of shareholders, APPICS enables all users to earn a fair share, as well as influence in the network, through a cryptocurrency reward-token. The company says: APPICS is more than just a mobile app that lets users monetize their posts and even their voting. APPICS is a revolutionary social mobile app that lets anyone without prior crypto-knowledge benefit from blockchain technology effortlessly. In its white paper , the company hints that its app will most resemble photo blogging site Instagram as it aims for a simple, visual approach which it believes has proven most popular with the worlds almost 2.8 billion social media users. Easy Use System Aims to Encourage New Users APPICS is one of a number of cryptocurrency start-ups currently aiming to capitalize on social media and a perception that many influencers especially those who build significant followings but fall short of viral stardom feel under-rewarded by established platforms. Japanese firm Pat Continue reading >>

Steem (steem) Blockchain-based Social Media Platform

Steem (steem) Blockchain-based Social Media Platform

Steem (STEEM) Blockchain-based social mediaplatform Steem.it is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, curating quality content by upvoting and by holding Steem based currencies in a vest fund, which generates interest. There are three main currencies in Steemit: Steem, Steem Power (SP) and Steem Backed Dollars (SBD). Steem is liquid and can be bought in an exchange and converted into steem dollars or steem power. Steem Power is basically Steem that is locked in a vesting fund for 3 months. Users can use steem power to upvote content and get curating rewards. When a user upvotes content his steem power gets depleted and then slowly regenerated. Steem Power holders receive interest from their holdings. The more Steem Power a voter has the more revenue hell generate for himself (in form of SP) and for the content creator (In SBD).There is also an incentive to upvote content early, as the rewards are distributed according to time. The earliest votes gets the biggest share of the reward. Steem Backed Dollars are there to protect content creators from volatility and can be traded for roughly 1 usd worth of steem, in order to cash out from steem. Converting Steem backed dollars into STEEM takes 5 days. Users also recieve interest from holding SBD. Underneath the hood of Steemit.com there is a tradeable cryptocurrency token, called Steem, and its performing well on the US-based exchange, bittrex.com, and blockchain-based exchange openledger.info. With Steemit.com, posts, comments and votes are immutable. Attribution is a given. Accreditation is not taken for granted. And community appreciation is an actual reward. While Create an account Password length should be 16 characters or more is shown which is sometimes ver Continue reading >>

Steem: The Social Media Platform Based On Blockchain

Steem: The Social Media Platform Based On Blockchain

Steem: The Social Media Platform Based On Blockchain Steem represents a social media platform based on Blockchain that helps publishers in monetizing their content and help the growth of their community through a scalable blockchain protocol for publicly accessing immutable content together with a fee-less and fast digital token known as STEEM enabling publishers to earn this currency, merely by using their skills which may also be described as proof-of-Brain. Methods like curating content, upvoting and posting content that is relevant, rewards can be earned by users. Currencies based on Steem can be held in a vest fund that would earn interest. The SMT tokens are focused on allowing content communities and platforms to launch their customize POB or proof-of-brain tokens with fee-less real time transfers on Steems blockchain. Anyone can tokenize custom platform and bootstrap value of the coin alongside the smart contracts that are built-in to enable opportunities in fundraising such as Founders Tokens and ICOs. Lessons from Steemit.com and STEEM will further help users leverage these actions. Steem offers 3 main currencies Steem , Steem Power and SBD or Dollars backed by Steem. Steem enjoys liquidity and can be sold/bought in an exchange. You can also convert steem into Steem power or Steem dollars. Steem Power represents investments locked for 3 months in a vesting fund. For curating or upvoting content steem power can be used and be rewarded for doing so. The Steem power depletes when content is upvoted by a user and gets regenerated slowly. Those holding Steem power also receive interest for their holdings. Users holding more steem power obviously receive more revenue (as SP) and the content creator is rewarded with SBD. Upvoting also has an early bird incentive sin Continue reading >>

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