Steem (STEEM)
Rank #627
Market snapshot
- Price
- $0.03673
- Market cap
- $20.4M
- 24h volume
- $3.5M
- Circulating supply
- 555,811,764.468
- Total supply
- 555,811,764.468
- Max supply
- N/A
What is Steem?
Steem is a blockchain platform that allows users to earn cryptocurrency rewards for sharing content. It aims to empower users by giving them control over their data while fostering community engagement through its social blockchain technology.
How Steem works
Steem operates as a social blockchain that incentivizes users by rewarding them for content creation and sharing. It processes transactions rapidly and is designed to support social applications at scale, making it distinct from other blockchains. With over 1 million users and more than 324 Steem-based applications, it facilitates immediate revenue streams for its users.
Key information
- Symbol
- STEEM
- CMC rank
- #627
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Apr 18, 2016
Key characteristics
Steem is an open-source blockchain protocol built specifically for web and content applications. It features near-instant fee-less transactions and a developer-friendly environment, allowing for easy integration of applications. The platform's architecture supports high transaction volumes, processing more transactions than Bitcoin and Ethereum combined.
Documented uses
Steem is positioned as a next-generation blockchain technology that is fast, free, and scalable, suitable for applications that require efficient data handling and user engagement.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Steem?
- Steem is a cryptocurrency that allows users to earn rewards for sharing content and engaging within a social blockchain environment.
- How does Steem work?
- Steem operates as a social blockchain that rewards users for content creation and sharing, processing transactions rapidly and supporting various applications.
- What are the technical features of Steem?
- Steem is an open-source blockchain protocol designed for web and content applications, featuring near-instant fee-less transactions and a high transaction processing capacity.
- What are the risks associated with transferring Steem?
- Digital asset prices can be volatile, and users should verify asset and network before transferring assets. Self-custody requires secure private-key handling.
- Where can I find official resources for Steem?
- Official resources for Steem can be found on their website at https://steem.com/ and their whitepaper at https://steem.io/SteemWhitePaper.pdf.
- How can I verify the acquisition of Steem?
- Verify the asset name, network, and destination details before transferring. Ensure the destination address is correct and understand the custody method.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
