What Are Steem (STEEM), Steem Power, and Steem Dollars (SBD)? Steem is a blockchain with three tokens powering a social content ecosystem.

What Is Steem (STEEM)?

Steem (STEEM) is a blockchain platform that hosts a variety of user-generated content platforms, including Steemit and Dtube. It uses three tokens [STEEM, Steem Dollars (SBD), and Steem Power] to ensure content creators and curators are properly compensated for performance of posts. I’ve been personally using both Steemit and d.tube since June 2018.

Who Is Steem?

Steem was created in 2016 by Ned Scott and Dan Larimer, who later left the project to serve as CTO for EOS. It’s maintained and operated by Steemit, Inc, a privately held company in the United States.

Use Cases of Steem

Steem launched with its own use cases built in. Steemit is a blog-based content platform and D.tube is a video-based platform. Both have GUIs to allow users to create and publish content, promoting as they see fit. Visitors can vote content up or down and comment. All information is stored permanently on the immutable decentralized blockchain.

How to Mine STEEM and SBD

None of the Steem cryptocurrencies or tokens can be mined. They are all earned by creating and interacting with content. Author and curator rewards are determined separately, and authors can manually control curator distributions. Tokens can also be spent on on-platform marketing and promotion.

Learn More About Steem

If you want to learn more about Steem, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.

Versability

Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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