Review on Steem by Owolabi Gbenga

Name: Steem
Item: Steem
Rating: 3

November 25, 2018

Steem is a great place to visit, the steem token has not been able to maintain…

Steem is a great place to visit, the steem token has not been able to maintain a particular amount for a long term since 2016. The platform pays in both SBD, STEEM and Steem Power. The Steempower is what determines the amount of reward a user can give, the STEEM is the liquid Steempower, while SBD is the token Backed with steem. Steemit native currency Steem can be mined as the blockchain is arranged in a block form of 21 blocks. The blocks are mined by miners known as witnesses. The first twenty blocks are mined by the first 20 Witness. the last block is shared amongs the other witneses depending their number in witness rank and computing power.This also applies to Steem dollar (SBD), unlike USDT that is pegged to the USD, SBD has not been pegged successful. 
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Pros

Steem, built with the blockchain technology, is believed to run base on the proof of intelligence as well as proof of stake. Steem has helped users learn about building communities. The platform has been existing since 2016 and users have been able to utilize the blockchain to reward one another based on quality content and contribution. Not forgetting that the platform does not charge any fee for transaction and it's blockchain time is very fast, at about 3 seconds.

Cons

The platform is dominated by bid bots thereby killing the major purpose of the platform. Users who can afford to get enough token end up just multiplying their stakes by voting on irrelevant posts and comments so as to earn a large proportion of token. Users without personal connections and/or Power can barely survive on the platform based on quality content.