Steemit, created by the genius BM of the blockchain industry, is combining blockchain with information to try to create an application scenario that disrupts the traditional Internet.
Steemit Introduction
Steemit is a content-based community that was released in the summer of 2016. Its main function is to send articles, likes, comments, topics are not limited, discuss anything, this is almost the same as Reddit. The core design philosophy of the Steem project is to identify the value of each individual's contribution to the community.
Steem currency mechanism
Steem designed an unprecedented three-coin mechanism, STEEM, Steem Power, and Steem Dollar, which have different uses and can be transformed into each other. STEEM is the core of three coins, while the other two are his derivatives.
What is steem power
Steem Power is positioned as a share. You can convert Steem to Steem Power and you will not be able to trade for a certain period of time, which means you have confidence in the platform. Steem will increase your privilege, such as giving more weight, making more money, and getting extra bonuses. It can be said that Steem Power is the core value of the users of the entire platform, and the Steem platform is owned by these people. Then Steem Power is locked, of course, it can't be traded, it can't be transferred.
Steem Dollar, positioning is a bond. The platform often rewards STEEM with a reward, but instead sends a Steem Dollar, and then promises that a Steem Dollar can always be converted to a $1 STEEM. And Steem Dollar can also be used as a tool for users to hedge, and Steem can be traded as Steem Dollar.
Form of reward
I mentioned three currencies STEEM, Steem Power, and Steem Dollar. Then, in the process of posting and appreciating, what kind of currency is it? According to the current community mechanism, if you post, you can choose to take only STEEM Power or 50% Steem Power, and the other 50% is STEEM+Steem Dollar. The ratio is controlled by the system and the purpose is to control the overall proportion of Steem Dollar. The equivalent of the debt ratio cannot be too high.
Steem has been running for more than two years and has achieved good results. However, there are still quite a few issues that need to be addressed, such as perfecting the anti-cheating rules of steemit.It is worth mentioning that the creators of traditional Internet content platforms do not rely on a single piece of content to make a profit, but have more other channels to profit, such as endorsement products or problem guidance. If Steemit can't really bring benefits to the creators, then Steemit's current achievements are just bubbles.