Review on Steem by Syed Adnan
Content creation and social networking platform.
It is a blockchain network on which it operates social and blogging networks. It is a platform on which content is created and social networking is done. Users are rewarded for their contribution to the website.
Tokens are blockchain driven, so all transactions made on the platform are stored in a public ledger that can be verified at any time. The platform promotes content ideals, curation and feedback. Providing tokens for this motivates users to write better for more revenue.
Pros
- This is completely different from other cryptocurrencies, since it cannot be mined, and has to be earned from contributing users to the network.
- It can only be used to finance the blockchain networks it operates. But it could be an exchange for fiat currency.
- It is a cryptocurrency that democratizes social networks as opposed to Bitcoin or Ripple or other major cryptocurrencies.
- It's a good idea, both in theory and effectively, with an already fully functional product and more updates coming out.
Cons
- Currently its volatility may be somewhat risky, but demand is likely to rise.
