Review on Steem by Gabriel Medina
Steem is used for content delivery on the Internet
Steem is used for content delivery on the Internet. Its users can post and comment and vote for or against them. Steem has a token inflation going on. 65% of all new tokens are distributed to users who post and comment or vote on them. 10% of the new tokens are delivered to the so-called witnesses that run the servers that are the nodes of the network, 10% of the new tokens are delivered to accepted proposals to do useful work for the ecosystem through the Steem system .DAO, 15% is awarded to those who own Steem Power, which is STEEM turned into a non-transferable token that gives the user voting power on rewards, witness picks, and DAO proposals. Upvoters and content creators split content rewards 50/50. Voting on content rewards is based on ownership of Steem Power, called participation.
Steem is useful for maintaining freedom of speech because it is very difficult to remove something from a blockchain. It requires creating a new chain without the unwanted transaction by replaying ALL transactions from the time that transaction occurred. That requires the chain to stop. Replaying all transactions can take days.
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Pros
- Very easy to use and works on the principle of transparency, in which members preserve content and monitor themselves against inappropriate content.
- Allows you to earn cryptocurrencies by voting, publishing content and curating
Cons
- It operates on the principle that members are self-governing and avoid posting inappropriate content.
- There is no moderation, quality control, and the wealthiest members intimidate the non-rich.
