STEEM is a custom blockchain responsible for rewarding content creators and site participants of steemit.com. Through a complex algorithm, the site’s participants, content creators, and miners receive some combination of payouts from the platform’s three currencies: Steem (STEEM), Steem Dollars (SBD), and Steem Power (SP).
Steemit.com has grown tremendously since launching on July 4, 2016, now recording close to 1 million unique users daily and about 10 million unique users monthly. While much of the content on the platform is related to cryptocurrency, there have also been a number of very popular accounts dedicated to topics such as gaming, travel, lifestyle, and artwork. The unique and highly incentivized nature of the platform has caught the interest of thousands of content creators, including individuals both highly involved and completely oblivious to the overarching cryptocurrency community.
