There are some innovations within the innovative process of cryptocurrency and Steem is one of them. The idea here is to be a social network in which users are rewarded by sharing information and curating content just like it happens with other social media networks out there. People will be able to receive recurrent gains which encourage users to continue to contribute to the network and this is a great incentive.
The Steem community is extremely active today with users that publish good and bad posts at all, some written from scratch and some that are obviously just copy pasting the exact same information that they are finding online, but the point is that this is a community that grows quite a bit and it gets the results that are expected from such a network.
The main and ultimate proposal is a social network based on a blockchain platform that allows users to create, evaluate and share content while they are also receiving profits from their efforts. This is the reason why it continues to grow so much and it has such acceptance all over the world.
This week the Steem network has exceeded the 300 million dollars in capitalization when you register your price on the market of $4 for each STEEM, which currently is placed at the third position in the list of the highest valued cryptocurrencies. This means it is surpassing most commonly promoted currencies out there and that is a huge accomplishment.
With this incredible rise in value of over 1,000% in less than a week, Steem has now gained the attention of hundreds of enthusiasts who are heavily interested in the use of these currencies. They also wonder what makes this option so good when compared to the rest.
Much more than a simple social network
In the last few years, there have been attempts to monetize social networks with cryptocurrencies, taking advantage of the decentralized technologies to create economic ecosystems that allow users to be rewarded for their content creation and this gives them the chance to offer such a thing without having to use intermediaries.
The voting system makes it even easier to see who will be evaluated as a quality content poster and who is going to be rewarded with lower gains due to their low quality content. Relevant content that is evaluated positively by the rest of the users means that this person is going to get higher benefits. This is a great way to increase the quality and quantity of content that circulates in this platform. In addition to publishing content, users also gain cryptocurrency when they participate in the community by grading the content that other people post, so this is a powerful way to create a sense of community and synergy unlike any other.
This is definitely the kind of revolutionary idea that is going to be extremely helpful in getting people to gain the most out of their investment in cryptocurrency and this is just the beginning of this phenomenon.