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ExchangeWhat is Steem (STEEM)
Steem originated as a social blockchain network that was striving to grow communities. Now, the Steem network is used to power real-world applications through social apps such as Steemit. The network was founded in 2016 by Ned Scott and Dan Larimer. Steem aims to introduce new opportunities in the industry of content creation where social users can not only get paid for their content but also for their attention.
The Steem platform created a meritocratic system in which users can cast votes to create a hierarchy of content. Its model thrives based on user-generated content and the distribution of rewards to the contributors. Steemit became the first social network to be built on the Steem blockchain. The Steem blockchain allows developers to use the Steem open source code and built applications, allows HODLers to n invest in the network’s native token, STEEM, and allows social users to utilize the platform to grow their audience through unique content.
Monthly the Steemit platform releases a call for community curators, a team of up to 7 individuals that support creators throughout the month by accessing a curator account. Curation Teams are rewarded for their activity in the community.
