About
Steem.it is a blockchain-based social media platform where anyone can win prizes by publishing content on any topic, rating quality content, and using Steem-based currencies.
There are three main currencies in the Steemit; Steem (STEEM), Steem Power (SP) and Steem Backed Dollars (SBD).
Steem is highly fluid because it can be purchased from any stock exchange and can be easily converted to Steem Backed Dollars with Steem Power.
The base of Steem Power is also locked against a protection fund for 3 months. Users use Steem Power to rate content and receive curator votes.
When a user votes on content, Steem Power is depleted and then gradually refreshed. The owners of Steem Power, they have acquired as much renewal as Steem Power.
There is also an incentive to rate content before the awards are distributed over time. The earliest votes receive the biggest share of the prize.
Steem Backed Dollars was created to protect content creators from fluctuations. To earn money from Steem you can be treated with a roughly $ 1 Steem transaction fee. Steem Backed Converts to STEEM takes an average of 5 days.
