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Three months after its launch, stim.it has grown as a platform for social publishing, community, and globally traded currency.
But what is it and how it works?
Role of Cryptokernesis
Steem.it's goal was to create a social media platform that rewards its users for the contributions they make, whether content, content, or funding. It is inspired by Reddit (user-generated content, multimedia, community voting) but typically has longer content, and a complex encrypted economic system.
The basics of Steem.it are clear. Creators write blogs, publish videos, and upload photos. Other users interact through sharing, opting, and commenting. This participation is rewarded with a digital currency. Better sharing - the content, comments, and actions that others interact with more - is rewarded with a more digital currency. It's like Reddit, where people get paid.
But mechanics are very complex. Three types of digital assets. Debt to Ownership Ratio. witnesses. Providers of liquidity. Run and run down. There are countless articles that Steam will either suggest ways to explain the system or ask them from others and show new all the time. This article attempts to summarize, although it will leave some technical details to another function. **
Unique properties
To achieve its goal of decentralizing a social media platform that rewards its users, Steem.it has many unique features.
Three internal currencies: Steam, Steam Power, and Steam Dollar
Steem.it uses three currencies to operate its network: Steam, Steam Power, Steam Dollar,
Steam is the basic currency unit of the Steam ecosystem - everything is valuable in Steam and must first be obtained for entry or exit from a steam network. They are traded on stock exchanges.
In order to be active on the platform, users must convert Steam to Steam Power. This conversion 'locks' Steam - it does not burn, not only accessible while it is used as Steam power. This is referred to as "power up". The conversion rate changes can be found here like stem_per_mvest on the right.
Users can not instantly convert Steam Power to Steam: they must offer SP and get weekly installments of Steam over two years, similar to bond payments. This is referred to as "bottom down."
Steam Dolls is another symbol in the ecosystem. One Stem dollar is recoverable at $ 1 from Steam at current market prices (0.3 Steam at the time of writing). One can convert Steam to the Steam inside the Steam platform and then sell Steam to the Fiat currency in exchange. The actual trade delay is one week: the start of the conversion means that the dollar will become Steam at the market price in just one week.
Pluchein exports these currencies in the form of batches and inflation on a larger scale. The total supply of Steam (including to hold your Steam Power) doubles each year by paying a bonus on the platform and payments to Steam Power holders (those who have 'powered'). 10% of the doubling goes to reward creators and custodians; 90% goes to the Steam power holders in proportion to the amount of power they hold individually. Steam dollars are also given out of bonus payments.
Here is a brief primer summarizing the main aspects of currencies.
.png)
Witnesses as Block Producers
The consensus protocol is also very complex. On a high level, it is similar to a commissioner's guide to share, with those who hold most Steam power the most election authentication transaction, called witnesses. In each block, 21 witnesses verify the blocks of transactions in the sequence: a block passed by a witness passes to the next witness at a predetermined path through the 21 witnesses. 19 of these elected witnesses, 1 comes from a group of miners who produce cryptographic fragmentation For Plucheen, 1 comes from a group of Steam power holders. All witnesses are usually known in advance, because the top 19 must not be changed frequently and the miner and spike holder are taken from the queue. Each authentication has three seconds to verify the validity of the block, which means the total cluster confirmation time of 21 seconds.
Set the price instead of the transaction fee
Instead of executing transaction fees because they are active on the network, each user is allowed a certain amount of activity on the network calculated as part of the available block size space. Steam calls this bandwidth, and the maximum is the weekly moving average. If the user exceeds the limit, their transactions will be delayed. The calculation of how this translates into the actual number of transactions is complex, but the point is that one allows free unlayed activity on the network proportional to the Steam Holding Authority.
Date / Establishment
Stem.it was founded by Dan Larimer and Ned Scott. CTO Dan Larimer co-founded Pichares and Petosd. In his biography of Stime.it, he explained that he founded Stem.it as an economic system and society that expresses the basic premise of "whoever brings value deserves a share". Chief Executive Officer Ned Scott Dunn met through the Pitches' project, and after a meeting in person, they decided to launch the Blocchin project focusing on the community. They developed the business plan in January 2016 and launched main.net in March 2016. The system issued its first return on July 4, 2016." |
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voc%C3%AA e *
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Gary
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bi que *
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rita
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verdade!
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| transaction_id | d4dd9e59550b18a922bbfc8d2bd0655645845458 |
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| block_num | 15,674,556 |
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| transaction_num | 15 |
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| 16. | | ref_block_num | 11,448 |
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| ref_block_prefix | 2,380,862,833 |
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| expiration | 2017-09-22 00:01:51 |
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| operations | | 0. | | 0. | vote |
|---|
| 1. | | voter | etw65 |
|---|
| author | buzalbinekedi |
|---|
| permlink | ring-billed-gull-gull-bird-fly-wings-feather |
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| weight | 10,000 |
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| extensions | [] |
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| signatures | | 0. | 206cf9a20981d08521b397f04bbfc5b1d07b2cde67f64f776335863b2e37c1843b11f2221b1c77f106caee7dfb407647373df2d6554c1dcff7184852987515df4b |
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| transaction_id | 306c6565412b45a0ebbcf4ed4a9e6125b8668a50 |
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| block_num | 15,674,556 |
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| transaction_num | 16 |
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|---|
| 17. | | ref_block_num | 11,448 |
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| ref_block_prefix | 2,380,862,833 |
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| expiration | 2017-09-22 00:01:51 |
|---|
| operations | | 0. | | 0. | vote |
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| 1. | | voter | zhother |
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| author | juicypop |
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| permlink | free-daily-sbd-giveaway-september-15-2017915t215848204z |
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| weight | 10,000 |
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| extensions | [] |
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| signatures | | 0. | 1f0eccad35d74a5d02c1521e97faa77e7ed228fc8a81d8534af40225ca35ac02472a5a28335c63c21633b59d699b02f03d70b336860580a97564d8292774a5c01f |
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|
|---|
| transaction_id | 29f5ae75b76bd02fca9e737b93eebabefdefc7ea |
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| block_num | 15,674,556 |
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| transaction_num | 17 |
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| 18. | | ref_block_num | 11,448 |
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| ref_block_prefix | 2,380,862,833 |
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| expiration | 2017-09-22 00:01:51 |
|---|
| operations | | 0. | | 0. | vote |
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| 1. | | voter | emarydffrederick |
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| author | anjana77 |
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| permlink | in-bamboo-as-in-other-grasses |
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| weight | 1,000 |
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| extensions | [] |
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| signatures | | 0. | 1f7f70a3c160daa60396ff5e413e6f67d01953828910d936002926814aa0faa15a0c761b6889ecb3a4237b65b9f5459e5b53b21c97698ac73bd6121b2aa63ed974 |
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|
|---|
| transaction_id | fc7057fe93397df3c3ab572b924363fc09b69770 |
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| block_num | 15,674,556 |
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| transaction_num | 18 |
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hiveblocks