Introductory tips on steemit.com
Hi my fellow steemians, I want to use this medium to bring to us vital tips on steemit block chain, as we know some of us finds it difficult to understand some facet about steemit.
To start with
WHAT IS STEEM?
Steem is a base cryptocurrency unit. It can be tradable, or exchangeable
Steem is the same as steem power sp , just that they are allocated differently. Steem can be converted to steem power and steem power can be converted back to steem. Steem and steem power are the same but it just matter how the are stored.
WHAT IS STEEMIT.COM
Steemit is a network or system based on the steem block chain where you perform certain activities like blogging and get paid.
WHAT IS STEEM POWER?
In essence steem power is steem set aside specifically to increase influence on the steem network. Steem power is not sellable or tradable. Steem power gives you influence on the steem network for some activities like upvoting curation reward and posting.
WHAT IS POWER UP?
Power up is the act of placing steem aside for use as steem power
WHAT IS POWER DOWN?
This is the process of releasing steem power back into it's sellable and tradable form called steem.
When you power down steem, it takes a total of 90 days with 14 payments.
WHAT IS STEEM BACKED DOLLAR (SBD)
This is a unit of promise that is supposed to always be worth of $1 of steem
SBD we're created to make post payouts more understandable and consistent. Thanks to my steemians friends, thanks for voting my post .I will unleash the next steps to know in steemit in my next post tomorrow. I thank each an every one of specially , love you all