STEEM has been shredded during the current bear market. Falling from an all time high of $8 to $0.58, investors and users of the Steemit platform are rightfully crestfallen. The saving grace of STEEM is that it is recognized as a “blue-chip” cryptocurrency that has traditionally been in the top 50 cryptocurrencies by marketcap and has 250+ applications on its blockchain. Smart Media Tokens (SMTs) will be launched in 2019, and Dapps that generate these tokens must hold STEEM as Steem Power (SP) to utilize the required resource credits that were created during Hard Fork 20. The blue-chip status of STEEM, burgeoning Steem ecosystem and SMT launch of 2019 will revolutionize social media and present a major buying opportunity for investors.
STEEM is currently ranked #42 by marketcap on Coinmarketcap, and has maintained its top 50 ranking it has traditionally held. The coin itself is a brainchild of Dan Larimer and uses delegated proof of stake to run the system. Delegated proof of stake (DPOS) uses a system of “Witnesses” who are voted for by system users to run the network. This system is more democratic and decentralized than a proof of work or proof of state system.
Content producers are given upvotes and rewarded based upon the steem power (STEEM coin locked up for 3-months) of the voters. Steemit, D-tube and Steem Monsters are addictive social media alternatives to Facebook, Youtube and online gaming that pay users as opposed to making shareholders and CEOs rich. Dclick is an alternative to Google Adsense that pays users handsomely and has a rich Korean and American community.
Smart Media Tokens and the myriad of Dapps that make up the STEEM make it a good long-term investment. Dapps like D-tube, Actifit, Steem Monsters, Dclick and Share2steem capture the essence and functionality of existing social media and gaming programs on the market.
STEEM coin is a measure of bandwith on the Steem ecosystem. In order for the new Smart Media Tokens to function, Dapp developers must own and hold STEEM. STEEM has a similar mechanic to EOS RAM called Resource Credits, which Dapp developers must hold to create their new systems. STEEM will add “Dstore”, a decentralized Amazon to their ecosystem which will require millions of STEEM to run. At its current price of $0.58, it is a steal.
Anyone can make money on and create a rich community on the Steemit platform. Checkout my Steemit community pages on @wstanley226 and @dominion01.
Read the Steemit whitepaper here: https://steem.com/steem-whitepaper.pdf.
Read the Steemit SMT whitepaper here: https://smt.steem.com/smt-whitepaper.pdf