#Steem tunesmith how to#
#Steem tunesmith software#

Turning STEEM into STEEM Power is referred to as “powering up.” The current inflation rate of STEEM is 9%, and it will decrease by 0.5% every year until the rate reaches 0.95%. STEEM can be converted to both Steem Power and Steem Dollars. STEEM is liquid and can be sought, sold, or exchanged in any way a holder sees fit. All other tokens derive their value from the base value of STEEM.

Steem (STEEM) – Steem is the fundamental unit of account on the Steem blockchain.

At the root of the platform is the currency STEEM, which is your typical transferrable, fungible, freely moveable token (similar to bitcoin ).

#Steem tunesmith software#

The entire Steem system is built on secure blockchain software that runs on a network of computers. D.sound is another example, in this case for audio streaming. D.tube is YouTube without the advertisements (and user base) – instead, it uses the built-in Steem currency to reward content producers. An example of this is D.tube, a decentralized video platform based on the InterPlanetary File System protocol. There are other platforms that use the same blockchain and underlying economic mechanisms. is only one platform for blogs and social media content that sits atop the Steem blockchain. Compared to some of its blockchain bretheren, Steemit is relatively simple. So behind this blockchain platform is a private company, not a random group of developers as is often the case. is a privately held company based in New York City.

#Steem tunesmith how to#

In this article, we assess the platform on how it works, how to use it and if you can really earn money from Steemit. Y et there doesn’t seem to be much of a verdict on this platform (at least in a broad sense). Steemit has been around since July 2016, it has a significant number of users, and it’s currently the 27th biggest cryptocurrency by market cap.

Steemit has redefined social media by building a living, breathing, and growing social economy – a community where users are rewarded for sharing their voice. Rewards are paid in the platform’s native cryptocurrency, STEEM.Īlso Read: This platform is a Steemit rival that pays in crypto for both publishing and reading. Steemit rewards users for posting, commenting, and even just upvoting other content. Similarly, Steemit users are vying for upvotes, but this is because engagement and attention lead to actual financial reward. Upvotes bring “karma,” greater visibility, and even the chance of landing on the front page. The brain-child of Daniel Larimer, founder of BitShares, and Ned Scott, a former financial analyst, Steemit is a blockchain-based social media platform modeled loosely on Reddit.Īnyone who uses Reddit knows that content lives and dies with the sacred upvote (or downvote).