1.What Is Steem?
Steem is a digital currency used to control the stage Steemit - a boosted blockchain online networking stage.
Clients make and clergyman content on Steemit simply like other social news stages (e.g. Reddit, Hacker News) and get remunerated in Steem for their work.
2.Steem
Steem is the fundamental unit of account on the Steem blockchain.
All other units (Steem dollars and Steem power) derive their value from the value of Steem.
There is no need to hold on to Steem in its cryptocurrency form, it should be used either to buy Steem power, Steem dollars or be converted to Bitcoins.
Steem increases in supply 100% each year. Steem was first published as a whitepaper in March 2016.
The currency and platform were in Beta until July 4th 2016.
3.Steem Dollars
Steem dollars are the units used to reward users for posting and curating content.
Each Steem dollar represents the amount of Steem equivalent to 1 USD.
Steem dollars (or SMD) were created so that users won’t be affected by the fluctuating exchange rate of Steem.
SMD are actually a promise, that when you come to cash out you will receive the USD equivalent in Steem of what you’ve earned.
Steem dollars earn an interest rate of 10% annually.
4.Steem Power
Steem power (or SP) is a token symbolizing how much power you have inside the Steemit stage.
When you have a considerable measure of SP your votes include progressively the framework. Actually you can't vote in the event that you don't have any SP.
Expanding your SP is known as "driving up" and diminishing it is known as "shutting down".
The best approach to shut down is essentially to money your SP into Steem.
This should be possible over a preiod of 104 weeks (2 years) so as to protect that clients don't simply money out rapidly and crumple the entire Steemit economy.