1 STEEM = 0.0627 USD - How Steem pioneered Social-Fi?

puncakbukit (78)in #steem • last month

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Launched in 2016, Steem pioneered Social-Fi by decentralizing rewards, ensuring creators and curators—rather than a central entity—capture the platform's value. While it remains a social powerhouse for decentralized content, the Ultimate Moving Average currently reflects a bearish downward trend in its market performance.

Steem’s unique architecture relies on a three-token system: STEEM for liquidity, Steem Power (SP) for staking and voting influence, and Steem Backed Dollar (SBD) for stable creator rewards. Despite these utility-driven features and the stability provided by SBD, the SuperTrend indicator is presently registering a sell signal.

Moving beyond traditional mining, Steem utilizes Proof of Brain to reward human cognitive effort and community engagement. This decentralized meritocracy uses upvotes to distribute new tokens across a high-speed, zero-fee blockchain, ensuring that creativity and curation are the primary drivers of the network's economy.

About Steem Blockchain (STEEM)

Hey there! It’s great to dive into this because the Steem Blockchain is actually one of the most fascinating pioneers in the "Social-Fi" space. Long before the recent explosion of Web3 social apps, Steem was already proving that your "likes" and "shares" could have real-world value.

At its heart, Steem is a decentralized social media blockchain launched in 2016. Unlike traditional platforms where the company keeps all the ad revenue, Steem is designed to reward the people who actually make the platform worth visiting: the content creators and the curators.

The "Triple-Token" Magic

One of Steem’s most unique features is its clever three-token economy. It’s a bit like a mini-ecosystem designed to balance liquidity and stability:

STEEM: This is the liquid base currency you can trade on exchanges.
Steem Power (SP): This is "staked" STEEM. Holding SP is like having equity in the network; it gives you more influence. If you have a lot of SP, your upvote can send significantly more rewards to a creator.
Steem Backed Dollar (SBD): A stablecoin-ish token designed to stay close to $1 USD, giving creators a reliable way to get paid without worrying as much about market swings.

Proof of Brain

While most blockchains use "Proof of Work" (mining) or "Proof of Stake," Steem uses a unique concept called Proof of Brain. It basically treats human cognitive effort—writing a post or finding a great article—as a form of "mining." The network allocates a pool of new tokens daily, and the community decides where they go through their upvotes. It’s essentially a giant, decentralized meritocracy.

Speed and Zero Fees

Technically, Steem is a powerhouse. It uses Delegated Proof of Stake (DPoS), which allows for incredibly fast transaction times (about 3 seconds) and, most importantly, zero transaction fees. This is a huge deal for social media; you can't have a platform where it costs $5 in gas fees just to "like" a photo!

A Bit of History

You can't talk about Steem without mentioning the "Great Fork" of 2020. After Justin Sun (of TRON) acquired Steemit Inc., a major part of the community feared the network would become too centralized. This led to a massive community split, resulting in the creation of Hive, a sister blockchain. Today, Steem remains a major player, closely integrated with the TRON ecosystem and continuing to host a variety of DApps like Steemit.

It’s a platform that truly changed the conversation about who owns our digital data and the value we create online.

What do you think of STEEM price in the next one month? Upvote on the comments!

Disclaimer: This is not financial advice; the information is for education only, crypto is risky, and you should do your own research, manage risk carefully, and consult a licensed financial professional before investing.

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