Review on Steem by Sergio Daniel Delgado
Steem (STEEM) A Blockchain-Based Social Media Coin
Steem is the native liquid cryptocurrency of the blockchain-based social media platform Steemit. Steemit offers content creators the ability to be rewarded by By consumers with multiple cryptocurrencies on the platform by 'liking' and 'voting' the content. Steem is also about to release version 2.0, which will turn it into a blockchain that allows dApp developers to create their own Smart Media (SMT) tokens that they can embed on their own platforms to reward to content creators.
It allows users on the Steemit platform to exchange their Steem Dollars and Steem Power in other cryptocurrencies and FIAT money.
It is used to buy Steem Power, the betting token that powers the Steemit platform.
Global Blockchain Technologies, a company focused on blockchain related developments and ventures has partnered with Steemit to form a $ 20 million fund for upcoming projects to be developed on the Steem blockchain.
DataWallet, a mobile phone device application for users to store their personal data from sites like Facebook, Uber, Amazon, Spotify and unify them in the only place where they can choose to sell them to the bigger ones for personal gain. Steemit has partnered with DataWallet for Steemit users to store their personal data from site use.
In my opinion for this Steem review, there is no question that the Steemit platform is amazing. It is one of the few cases where users can interact with the blockchain and and content creators can be rewarded for their content. Since the Steem token itself is inflationary and it is difficult to determine exactly where the value of the token comes from, It is not a token that I would recommend to investors without really believing in the platform first. With that aside, Steemit is an invaluable asset to the encryption community and a beloved platform that shows the future potential of social media platforms.
Pros
- It is the liquid cryptocurrency of the most popular blockchain-based social media platform.
- The Steem platform will give developers the ability to create their own tokens for the express use of rewarding content creators on social media platforms.
- It has high transaction speeds and plenty of room to scale demand.
- Its creator, Dan Larimer, is one of the most respected developers in the cryptosphere.
Cons
- There are some concerns and confusion in the space about where Steem's value really comes from.
- Steem is an inflationary currency, this can be avoided by betting Steem Power on the Steemit network and earning interest, however, since Steem tokens are inflationary, it may not be a currency for Investment purposes
