Steems

Steems are a cryptocurrency and the native token of the Steem blockchain. The Steem blockchain is a decentralized social media platform designed to reward users for creating and curating content. When users post content, such as articles, blog posts, or comments, and other users upvote that content, the author and the curators receive a portion of newly created Steem tokens.

The Steem blockchain operates using a delegated proof-of-stake (DPoS) consensus mechanism. In this system, token holders vote for a limited number of delegates, also known as "witnesses," who are responsible for producing and validating blocks on the network. This system aims to be more energy-efficient and faster than traditional proof-of-work systems.

Steem tokens have several uses within the ecosystem. They can be traded on cryptocurrency exchanges, used to power up for increased influence on the network (earning more rewards), and used for various platform operations. The Steem blockchain was launched in 2016 by Ned Scott and Daniel Harrison. Over time, the Steem ecosystem has evolved, with various applications and interfaces built on top of its blockchain technology, each aiming to leverage the incentivized content creation model. The governance and development of the Steem blockchain are largely driven by its community of users and stakeholders.