Steem is a cryptocurrency that takes over the management of transactions on the steem blockchain. So we can say that the basis of the operation is based on this crypto money.
Steem blockchain is designed as the social media of the cryptocurrency world through various interfaces and allows updates that are compatible with this situation.
For example, you shared a piece of content (text, image, video) on Steem platforms. People vote for this content. These votes come to you based on the amount of Steem locked on you. So the more the Steem gets locked up, the more votes you earn.
You will also receive some of your content's earnings as Steem. Therefore, we can say that Steem is the everything of this platform.