Steem
Current price
$0.0526
−6.72%24h
LiveUpdated 22s ago
TodaySteem drops 6.7%, trailing the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.06%
- 24 hours−6.72%
- 7 days−11.70%
- 30 days−8.09%
- 1 year−45.63%
Steem's move in context
Lagging the market today
−6.72% today against −3.24% for the market as a whole, a gap of 3.5 points. A gap this wide suggests something specific to Steem may be moving it, not just the market mood.
Part of a slide
−11.7% over 7 days and −8.1% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Steem
Overview
Steem is a decentralized blockchain-based social media platform that enables users to create, share, and monetize content. Launched in March 2016, it was developed to empower content creators by providing them with a direct way to earn rewards for their contributions without intermediaries. The core mission of Steem is to create a community-driven ecosystem where users are incentivized to produce quality content, engage with others, and participate in governance. One distinguishing feature of Steem is its unique rewards system, which allows users to earn cryptocurrency based on the votes their content receives from others in the community.
Technical Features
Steem utilizes a Delegated Proof of Stake (DPoS) consensus mechanism, which enables efficient transaction processing and decentralization. In this model, token holders elect witnesses who are responsible for validating transactions and maintaining the blockchain. This approach enhances the network's scalability and speeds up transaction times significantly compared to traditional proof-of-work systems. Steem’s architecture consists of a multi-threaded design that enables high throughput and low latency, making it suitable for real-time applications. Additionally, it implements a unique reward distribution model that allocates Steem tokens (STEEM) to content creators, curators, and witnesses, thereby promoting active participation in the ecosystem.
Use Cases
Steem has multiple use cases that revolve primarily around content creation and social engagement. It plays a significant role in decentralized finance (DeFi) by allowing users to stake their STEEM tokens to earn interest. Steem also facilitates governance through a voting system where users can influence decisions on platform enhancements and rule changes. Moreover, Steem supports various decentralized applications (dApps) that utilize its infrastructure for purposes such as non-fungible tokens (NFTs), community-driven projects, and collaborative content creation. Another valuable application of Steem is its ability to enhance cross-border payments through its seamless cryptocurrency functionalities, allowing creators across the globe to be rewarded fairly and transparently.
Development Background
Steem was created by Ned Scott and Dan Larimer, who were pivotal in its early development, providing a vision for building a decentralized social media platform. The platform's launch marked a significant step in the integration of social media with blockchain technology. In 2020, Steem faced controversy when it was acquired by the Tron Foundation, leading to a community fork and the creation of the Hive blockchain, which further highlighted the importance of decentralization and governance in the cryptocurrency space. Since its inception, Steem has undergone several upgrades and improvements to enhance its functionalities and user experience.
Community and Ecosystem
The Steem ecosystem is supported by a vibrant community of developers, content creators, and users who collaborate to build innovative applications and projects. Many dApps have emerged, providing a variety of services ranging from blogging platforms to social interaction tools. The ecosystem thrives on partnerships with other blockchain projects and communities, leading to collaborative efforts that bolster its use cases and increase adoption. The Steem community actively engages in discussions and forums, contributing to its governance and development while promoting awareness and education around blockchain technology.
Future Potential
Steem holds significant future potential due to its robust technology and diverse use cases. The ongoing developments aim to enhance scalability, privacy features, and user experience further, which may attract a broader audience. The emphasis on building a decentralized and user-centric platform positions Steem favorably within the growing landscape of blockchain social media solutions. As the demand for creator-centric platforms continues to rise, Steem’s unique reward structures and capabilities in the DeFi space may lead to increased adoption, making it a critical player in the evolving world of cryptocurrencies.
Steem market
- Position by market cap among the coins we track.
- #284
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $29.49M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $0.0520High $0.0570
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $8.19
- Now 1% of itReached 3 Jan 2018 · Needs +15,470% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 560.65M STEEM
- Coins that exist now and can be traded.
- The most coins that can ever exist. Some coins have no limit.
- No limit listed
- The most coins that can ever exist. Some coins have no limit.
Steem converter
1 Steem = $0.0526
