Steem (STEEM)

Content Creation and Curation

Steem is used on social media platforms like Steemit, where users create and curate content such as posts and comments. Users earn Steem tokens as rewards for their contributions, turning engagement into cryptocurrency earnings. Both content creators and curators (those who upvote and share content) get rewarded.

Social Media Influence

Steem Power (SP) represents a user's influence on the platform. The more SP a user holds, the more weight their votes carry in deciding content payouts. This encourages quality contributions and community participation.

Decentralized Platform Operation

Steem powers decentralized social media platforms that run without central control, censorship, or downtime. This ensures data security and fairness, allowing users to maintain control over their data and content.

Economic Model and Token Use

Steem tokens can be traded, sold, or converted into other cryptocurrencies like Bitcoin. They are also used to buy Steem Power or Steem Dollars, which have specific roles within the ecosystem. The system has built-in inflation to fund rewards and encourage long-term engagement.

Support for Decentralized Applications (dApps)

Beyond social media, the Steem blockchain supports various decentralized applications, including those in decentralized finance (DeFi) and blockchain gaming, expanding its use cases within the crypto ecosystem.

Advantages of Steem

• Community and Rewards: Steem is a social blockchain that rewards users with cryptocurrency for creating, sharing, and curating content, allowing users to earn money directly from their contributions.
• Fast and Free Transactions: Steem processes transactions every 3 seconds with no fees, making it efficient and cost-effective for social media applications.
• Scalability: It is designed to handle social applications at scale, supporting over 1 million users and hundreds of apps.
• User Control: Users maintain control over their data and content, unlike traditional social media platforms where the platform owns the content.
• Multiple Tokens: Steem uses different tokens like Steem Power (which increases voting influence) and Steem Dollars (a stablecoin pegged to the US dollar) to provide flexibility and stability.
• Decentralized Governance: Users with more Steem Power have more influence in platform governance, including voting for block producers.
• Privacy: User data is encrypted, protecting personal information.
• Open Ecosystem: Developers can build decentralized apps (DApps) on Steem with available open-source tools and resources.

Disadvantages of Steem

• Inflation: Steem has an inflationary model where new tokens are created daily, which can reduce the value of existing tokens over time.
• Voting Power Imbalance: Users with large amounts of Steem Power have more influence, which can lead to centralization of control and affect fairness.
• Password Recovery: There is no password recovery option if a user loses their private keys, which can result in permanent loss of access.
• Market Adoption: Despite its features, Steem’s market capitalization and adoption are lower compared to major cryptocurrencies like Bitcoin and Ethereum.
• Content Permanence: Content on Steem-based platforms like DTube is permanent and cannot be edited or deleted after posting.
• Complexity for New Users: The concepts of Steem Power, Steem Dollars, and the blockchain model may be confusing for beginners.
• Developer Activity: Compared to other blockchains, fewer new decentralized apps are being created on Steem, which may limit ecosystem growth.

For more details, visit Steem's official website.

Founders of Steem

Steem was co-founded by Ned Scott and Daniel (Dan) Larimer in 2016. Ned Scott is the CEO and co-founder of Steemit, Inc., the company behind Steem. Dan Larimer, a blockchain developer and visionary software engineer, was the co-founder and served as the chief technology officer (CTO) until March 2017. Both brought their experience from previous projects, with Larimer having created BitShares before Steem. Together, they launched Steemit, the first social media platform built on the Steem blockchain.

Investisseurs dans Steem

Steem est principalement détenu par une petite poignée de personnes, ce qui signifie que la majorité des tokens est concentrée entre quelques investisseurs. Cette concentration peut influencer le marché de Steem.

Communauté et Développeurs

Steem bénéficie d'une communauté puissante de développeurs et d'investisseurs engagés. Le projet est soutenu par des développeurs dédiés qui travaillent à l'amélioration de la plateforme Steemit, ce qui attire des investisseurs intéressés par le développement blockchain.

Investisseurs Institutionnels

Il y a une croissance de l'intérêt des investisseurs institutionnels pour Steem, qui voient un potentiel dans la technologie blockchain appliquée aux réseaux sociaux et à la monétisation de contenu. Ces investisseurs apportent crédibilité et stabilité au projet.

Investisseurs Individuels

Les investisseurs individuels peuvent acheter Steem via des plateformes d'échange crypto comme Binance, Coinbase, Kraken, et d'autres. Ils peuvent détenir Steem sous forme de STEEM, Steem Power ou Steem Dollars, selon leur stratégie d'investissement.

En résumé, les investisseurs de Steem incluent une petite élite détenant la majorité des tokens, une communauté active de développeurs et utilisateurs, ainsi que des investisseurs institutionnels qui soutiennent la croissance du projet.

Halal Status of Steem

Steem is generally considered halal because it serves a real-world purpose as the native currency of the Steem blockchain, rewarding users for content creation and curation. This aligns with Islamic finance principles that favor cryptocurrencies with inherent value and legitimate economic activity.

Reasoning

Steem’s business model incentivizes productive contributions rather than speculative trading. It avoids prohibited elements like riba (interest) and excessive uncertainty (gharar), which are key concerns in Islamic finance. Therefore, many scholars and halal crypto reports view Steem as compliant with Shariah principles.