What is Steem Blockchain?

Steem is a social blockchain that grows communities and makes immediate revenue streams possible for users by rewarding them for sharing content. It’s currently the only blockchain that can power real applications via social apps like Steemit.

What’s the problem with blockchain?

The current architecture of the blockchain is high on energy consumption, and also has problems with scaling. The root problem is that all transactions in the blockchain have to be processed by basically everyone and everyone must have a copy of the global ledger.

What is Steem used for?

Steem cryptocurrency can be used to power the social media platform – Steemit. Creators and curators play a central role on this blockchain-based platform the rewards the users for their contributions.

What is blockchain scalability problem?

Basically, the scalability issue arises with the increasing number of nodes and transac- tions in blockchain. This issue is indeed present in major public blockchain applications (e.g., Bitcoin and Ethereum) because every node needs to store and execute a computational task to validate every transaction.

Why are smart contracts useful?

Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism.

Is Steem a good coin?

Steem (STEEM) Cryptocurrency Market info Our Ai cryptocurrency analyst implies that there will be a positive trend in the future and the STEEM might be good for investing for making money. Since this virtual currency has a positive outlook we recommend it as a part in your portfolio.

What is Steem coin used for?

Steemit is a blockchain-based blogging and social media website. Users can gain a cryptocurrency, STEEM, for publishing and curating content.