Its been 7 days I Posted my first Post but was still confused with the Platform.Some unwanted sounds I was hearing from all around.
So I decided to block out some unwanted Sounds,Here I go...
What is Steem ?
Steem is a crypto currency & is the fundamental unit of account on the steem blockchain.
Steem dollars & Steem Power Derive their value from Steem.
Steem can be used to buy steem dollars & Steem Power.
What are Steem Dollars ?
Users are rewarded with steem dollars for curating & posting content.Each steem dollar is equivalent to US1$.
The value keeps on changing as per the crypto currency market conditions.
You can check its value by visting this link:
https://coinmarketcap.com/currencies/steem-dollars/
What is Steem Power?
Steem Power Symbolizes your Power or Influence on the Steemit Platform.So Having more steem Power your votes will count more on the platform.You can power up or power down your steem power.
How do Three works or are co related to each other??
Steemit is a social media platform using the blockchain technology.The Platform rewards users with Steem Dollars for posting or curating the content on the platform.Each user on the platform has a steem power which can be called his/her influential power on the platform.So when a user with a high Steem Power up votes on your posts or comments your posts earns higher Steem dollars.
This my understanding of the Platform. Please do comment & share your posts of your understanding.
