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.
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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.
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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.
