Understanding the Steemit Trinity: Steem, Steem Dollars, Steem Power.

in #steem3 years ago (edited)

steemit trinity.jpg

It has been a month now on #steemit, I am still trying to figure out what actually the platform is. While searching about #steemit on #google, #youtube and many other sources including steemit itself , the knowledge I gained about steemit is of a social media network with integrated blogging feature. This kind of platform is unique and a pioneer in blockchain based social media platforms. The Steemit universe has 3 entities, interrelated to each other more or less in a similar way like trinity of Gods or celestial beings. These entities are known by the name of (a) Steem (b) Steem Dollars (c) Steem Power. Understanding #steemit trinity, its uses, functions and impact can bring fortune and monetary benefits to its users.

Going forward lets start with STEEM, what is it and how it functions in Steemit community
STEEM, according to my understanding and knowledge is the underlying cryptocurrency which powers this whole system. Steem is already available on different exchanges for trading where a user can buy it, hold or trade etc. The current value of this crypto is $1.34.

fresh steem.png

Inside Steemit Community STEEM is used as base for incentives to be distributed among users for the value they have added to the community. Since #steemit is a blogging platform, it needs content. The content is created, followed by a voting system, which involves curation(voting for best content). Both content creation and curation are incentivised. Steem is converted into Steem dollars and Steem power. Steem is the liquid money which can be bought and sold on exchanges just like other cryptos.

STEEM DOLLARS are rewards which are given to the users with best content and curation activities. The best content is selected by number of upvotes received.

steem dollars.jpg

Inside Steemit, Steem dollar is a token with imprecise value close to $1 and can be converted to some cryptocurrencies including #bitcoin.

STEEM POWER or SP depicts like a token of influence on Steemit. If a user has more steem power, his content will regarded as good and other user will prefer it to read as well as upvote. SP is also helpful in earning huge curation rewards.

steem power.png

Steem Power is a powerful system which provides strength to value content creators and also rewards those who identify the best content.

As a newbie and a beginner this is my simple understanding of the steemit trinity: steem, steem dollars, steem power. I will keep on updating this info to help beginners like me. These are my !originalworks
New users on Steemit can also use #upvoteplankton for reaching to more people. #busy.org is of great support for new #steemian. Such #organizations and people help beginners to stand in this wonderfully designed #blogging platform.

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Sir your post is very nice i love your post bro

aur aapki photography laajawaab hai.

Use busy.org for extra upvotes

thank you for suggestion. write a blog post about busy.org so that other people can also get help

Thanks a lot for this admiration

good post for beginer

These are my !originalworks
I write in my own words @originalworks

Nice post bro

thank you for your time to visit this post. Keep on adding value to this wonderful platform.

Never knew that in details, thanks

I am also new on #steemit and learning new things about the platform brother. Whatever has come to my observations so far i have posted.

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by digbit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

this is the post im seeking long time

Thanks for this admiration. I am also a beginner here in #steemit