Steem (STEEM) Will Be Listed On Atomars

What is Steem (STEEM)?

Whatever action Steem users take, whether it be blog posting, commenting, or upvoting/downvoting, is done on the blockchain. That makes it necessary for the blockchain to be fast, scalable and free to provide the best user experience. The Steem platform works based on a unique consensus algorithm and monetary system. Although some people question the kind of content on the Steem blockchain, the platform boasts one of the best user experiences of any crypto project to date.

How is Steem Different From Bitcoin?

Steem has Three Cryptocurrencies

  • STEEM: STEEM is the Steemit network’s foundational cryptocurrency. STEEM is exchangeable with other cryptocurrencies on the popular crypto exchanges. However, to be able to cast votes, your STEEM has to be turned into Steem Power (SP) in a process called “powering up”. Also, STEEM can be converted into another token on the ecosystem, Steem Dollars.
  • Steem Power (SP): When STEEM is converted to SP, it is being invested back into the network as equity. One unit of STEEM converted into SP is equal to one vote. People with the most SP exert the highest influence over the content that is elevated to the top. When users with large amounts of SP upvote and downvote or flag content, they are more powerful than those with less SP. In addition, up to 90% of newly created STEEM goes to users who have large amounts of SP, which incentivizes participants into investing earnings back into the network. Rate limits exist when converting SP back into STEEM in a process known as “powering down”.
  • Steem Dollars: Steem Dollars have a value of 1 STEEM to 1 US Dollar and are a unit used to represent short-term debt. The Steemit whitepaper describes holding Steem Dollars as a way of lending the value of one US Dollar to the community, which fosters the growth of the ecosystem.

Steem (STEEM) will be Listing on Atomars

About Atomars

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