Steem is the most popular blockchain based social media platform.This media support author and curator by rewarding their own crypto coin steem and steem dollar(SBD). User get rewards for his valuable contribution on this social media.They also can monetize others user content so that all together can grow up a strong community.Steem made their own ecosystem business model include user, crypto coin,author,curator,promoter,witness etc.I want to share a look back about steem ecosystem.A new digital asset of steem, Steem media Token (SMT) will launched soon.I heard it will launched in february.This smt also be used for giving rewards to content creator and monetize whole steem media.
Digital Asset of Steem Media
Steem has already 2 crypto coin.One is steem and other is sbd or steem dollar.They will launched new coin smt soon.After HF21 steem media platform giving rewards steem to user.Before HF21 they gave steem and sbd together.
- Steem
Steem current price is 13 cent.Once upon a time it was above 7 dollar.Steem current market rank 76 based on market capital of crypto market.It has circulating supply 340 million coin.Steem uses for rewards content creators.Also uses for exchange in top exchanger.
- SBD
It is pegged to the us dollar.I heard it is a stable coin.But it is not like that.Before HF21 it used for giving rewards to user.Now it is only uses for exchange in top exchanger.SBD current market price is 61 cent.Once upon a time it was 14 dollar.It has very low supply.Only 7.3 million circulating supply.
- SMT
Steem media token will be third crypto coin of steem.It is now under processing.May be with in one month we can see smt in market.
Steem Network
I must say it is very innovative idea of ecosystem.Steem created this networking by several way.
- Steem Power
This power is stored and can only use for upvote and downvote.User can not use it to instant buy sell on exchange.If he decide to power down then he will receive it to liquid steem and can use it for buy sell.But steem network will give those vesting power to user by 13 equal weekly payment. User can give steem power to delegate other user and take delegation from others.More steem power person called whale in steem.
- Reputation Power
A new user get default reputation power 25.It can be go up to 100.Every getting rewards can grow up his reputation power.This reputation power indicate to other user that is that person trusted or harmful for community.Higher rp person is more trustworthy and powerful person of steem.
- Voting power
Every user has voting power based on his vesting share.This power use for curate a valuable content by others or own.User can give upvote or downvote to anyone.But there is some rules.If you give upvote anyone by 100% voting power then your next upvote value will be 98%.Every 100% upvote will reduce 2% power.If you give 100% upvote to 10 user then your voting power will be down to 80%.It will take 20 hours to full charge.
- RC
It is called resource credit.It is a bandwith of sytem.User spend bandwith for upvoting,commenting,following etc.A new user always face problem with limited rc.If user do not use sometime then his rc will be increased by system.Who has more vesting power, he never be face problem with rc.
Steem Community service
- Give rewards to valuable content.
- Free and faster Payment.
- Quiz and contest for user.
- Give Chance to promote a service or product.
Rewards System
After HF21 steem changed reward system.Now author get 50% reward and curator get 50%.Curator has chance to give upvote possible best quality content.In this system both will be beneficiary. Author will get rewards for his effort of making content.And curator will get back 50% rewards for his curation.A post is eligible 7 days for getting curation.
Witness
Users can elect a steem member as a witness.That witness can publish price feed on steem.Steem blockchain need members for delegated proof of stake.It is a POS mechanism.People can select highest 20 witness and can vote up to 30 witness.