What is steem?

Steem is a blockchain-based social media platform that rewards users for creating and curating content. It was launched in 2016 by Ned Scott and Dan Larimer.

On Steem, users can create posts about various topics and earn rewards in the form of Steem tokens, which they can later convert into other cryptocurrencies or fiat currencies. Other users can upvote or downvote these posts, which also affects the rewards earned by the creator.

Steem also has a feature called Steem Power, which is a measure of a user's influence on the platform. Holding more Steem Power gives users more control over the platform and greater rewards for their contributions.

In addition to its social media and content creation features, Steem also allows users to send and receive payments using its native cryptocurrency, STEEM. This makes it a versatile platform for both social interactions and financial transactions.