Steem (STEEM) Price

Steem is a social blockchain protocol designed to incentivize the participation and sharing of content in decentralized networks. It is a platform that allows users to create and share content, interact with others, and earn rewards for their contributions. Steem was created by Dan Larimer, who also created BitShares and EOS.

Steem is a Delegated Proof-of-Stake (DPoS) network that features free transactions. This means that users can make micro-transactions, upvote, and perform other content curation actions with minimal friction. The network has a fast block time of 3 seconds, making it more efficient than other blockchain networks.

The most outstanding element of Steem is the way in which witnesses are selected. Witnesses are responsible for producing blocks for the chain, and they are selected by stakers who receive voting power for every STEEM they stake. This means that those who hold more STEEM have more say in the governance of the network.

Steem also features a reward system that incentivizes content creation and curation. Users can earn STEEM tokens by creating and sharing content, as well as by upvoting and curating content that is popular. This system is designed to reward those who contribute to the network and help to grow the community.

The Steem network has a number of use cases, including social media, gaming, and e-commerce. It offers a decentralized platform for content creators and users, allowing them to interact and transact with one another without the need for intermediaries.