In recent days, Steem has become the third cryptocurrency in importance, accelerated growth than anyone imagined. Here we explain what is this coin, what is your philosophy and how to be part of the network that supports it.
Steem is the new phenomenon in the world of criptomonedas. Yet many wonder how it could grow so quickly. The digital currency, which cost about $ 0.28 on July 8, now exceeds $ 4.17. That is to say, in less than a week had an increase of almost 1500%.
Also, its market capitalization, six days ago was 23 million dollars, grew until today to 333 million. That has made this cryptocurrency a lot more than in previous weeks, now is in third place of importance in the market of digital currencies, after Bitcoin and ethereum leaders.
What is Steem?
Steem has as its operational base Steemit.com social network (similar to Reddit) where users post content and then it is evaluated by other users. Steem is the cryptocurrency serving "money" of this system. Both publishing content, such as evaluating the others, users can go a profit. These coins they receive can use both within the own network, and exchanging them in exchange. So far, two operate with Steem: OpenLedger and BittRex.
Steemit records all the contents of users of the social network in your Blockchain, that gives greater transparency and certainty to the process, it has the support of decentralized book. You can view the publications and the money earned by each of the people. It also eliminates the middlemen who keep most of the profits of content creators in other areas of the Internet. Here the relationship between producer and consumer of content is more direct.
It is interesting to see how the social network is becoming increasingly filled with people posting. It can be seen that some have already exceeded the $ 2000 profit in less than a day.
Just you win generating content?
The main "machinery" of this cryptocurrency is both production and reception of digital content. However, it is not the only way to win with Steem.
You can also go through the Steem mining algorithm Proof-of-Work. Complete information on this process is in this link page Steem.
There is also another stimulus for those who wish to join: Steem system rewards the very thrifty. Users retain the coins by more than a year receive interest, ie, a small percentage of incentive. Besides holding coins equivalent for the user to have more "power" within the network, forming a kind of social class with more influence and, therefore, more choice to have followers.
Why he grew so much?
On July 4, Steem presented the final version of its network and launched criptomonedas 5 million to the community, which realized her off. But it is not the only thing that will. Promises on its website other news. For example, they are hoping to add the Interplanetary File System (new Internet protocol peer) to give even more security to the network. Also they want to include private peer to peer messaging, transaction privacy and ensure anonymity of users.
How Steemit belong to?
Too easy. And anyone Facebook or Reddit can. Simply open the Steemit.com page. Above right you must click on "sign up", which will take you to a window that asks you to follow the process with your Facebook or Reddit.
You choose your preference. Then you must enter your password on the network and once this is done, a window will ask you for your username, password of 16 characters and voila, already has a place in the club Steemit.
Start writing is easy. You must click "Submit a story". It has a space to put a title, another to write the body of the text and finally another to list the tags or labels that will enable the location. Once published, you can track the performance of his post within the community.
It is important to note that most (almost complete) post of the network are in English. However, since timidly they begin to glimpse some stories in Spanish. Some of the team members have undertaken Journal Bitcoin campaign trying to position the Spanish in Steemit. For example, this is one of our post on the use of language.
We do not know what will happen to this platform, but if you are a content creator loses nothing in joining it, maybe it will become one of those lucky people who are already earning money through this medium.