Steem update: STEEM Live price, price chart, news and markets

The STEEM price update as of now is $0.07585. In the previous 24 hours, its trading volume was $7,779,450, and its value has decreased by -1.49%. As of now, STEEM's live market cap is $40,472,536, and it is ranked as the #497 on the Coincu. STEEM has a circulating supply of 592,899,616 and a maximum supply of 592,899,616.

What is Steem (STEEM)?

Steem (STEEM) is a social network ecosystem built on Blockchain technology. The primary objective of the Steem platform is to foster community building and social interaction while providing rewards in the form of STEEM coins to its users.

The Steem ecosystem operates as a social network where users can write articles and earn rewards based on the number of votes their articles receive. These rewards can later be converted into real money via payment exchanges.

Steem is built on Graphene technology, which is also utilized by Bitshares, a Blockchain network created by Dan Larimer, Steemit's co-founder, in collaboration with Ned Scott.

Steem Solution

The Core of Steem

Steem functions as a Blockchain that stores all transaction data and manages ongoing events within the ecosystem. STEEM coins serve as the primary payment method for transactions and services on the Steem platform.

Steem dApps

Steem Blockchain dApps are the flagship products offered within the Steemit Platform ecosystem. Steemit, owned by Steem Inc., is a social blogging platform, and its main website is Steem.com.

How Steem Works

To gain a comprehensive understanding of Steem, it is crucial to comprehend the mechanics of Steemit. Each day, Steemit generates new units of Steem and distributes them to users. These units can then be exchanged on the Bitcoin market. The functioning of Steemit is similar to many other cryptocurrencies in the market.

Similar to Bitcoin, actual units of currency are created daily and distributed to the operators of a Bitcoin software program through BTC mining. In the case of Steem, users who mine Steem generate new Steemit currencies and distribute them themselves to newcomers.

While Steemit allows users to mine currency, it does not guarantee profits. Individuals who actively engage on the platform are rewarded with Steemit currency. The more involvement on the Steem platform, the greater the benefits received.

Roadmap for the Future

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