With all the FUD it's sometimes difficult to keep an eye on what Steem is trying to achieve.
Here's a difficult exercise for you.
Describe Steem (the blockchain, not Steemit) in 10 sentences or less as if it was completed.
That means MIRA is here, SMT's are here, communities are here and RC's pooling is here.
This will maybe help you see the bigger picture easier.
Here's my try and it was a lot harder then I thought. I will need to work on it :)
Steem is an app-specific blockchain that is and can be run by anyone on commodity hardware and uses a readable account name system + password for users and produces a block every 3 seconds in which you can put any data you want.
Every developer or individual that needs a blockchain or a token but doesn't know how to build a blockchain can use Steem instead.
The base token for the Steem blockchain is STEEM but on Steem (the blockchain) it's possible for anyone to create and distribute their own token with different parameters and to build their own community around this token.
One of the Steem blockchain unique attributes is that it's extremely cheap to use compared to competitors and that's because Steem has solved the scaling problem and can scale extremely well by using commodity hardware.
Extracting data from the blockchain is free but if you want to put data into the blocks on the blockchain, or in other words, if you want to interact with the blockchain, you need resource credits and so does your userbase.
You get resource credits by staking the base STEEM token into STEEMPOWER and the more STEEM you stake the more access to Resources Credits you get.
If you can't afford STEEM, it's also possible to lease Resource Credits from several parties for a fraction of the cost of a STEEM token.
It's also possible to distribute unused Resource credits to your users so they don't need to own STEEM to interact with your app or token.
But most importantly because of the resource credit system, all the transactions on Steem have NO transaction fees!!
Steem is therefor the cheapest, fastest and easiest to implement blockchain for anyone that wants to use a blockchain in their application or to use a token to empower their community.
Off that was tough with only 10 sentences, If you want to give it a go, please try!
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