Steem
Crypto Overview
Overview
Steem is a blockchain-based rewards platform for publishers to monetize content and grow community. The platform powers real applications via its cryptocurrency STEEM and features its own social media platform called Steemit.
Purpose and Utility
The primary purpose of STEEM is to serve as the native currency of the Steem blockchain ecosystem, enabling content creators to earn rewards for their contributions. The platform allows users to earn tokens by posting, curating, and commenting on content.
Business Model Analysis
The business model focuses on incentivizing content creation and curation through a transparent reward system. Users who create valuable content receive STEEM tokens as rewards, while those who help identify quality content through voting also earn rewards. The system operates without interest or gambling mechanisms.
Real-World Adoption
Steem continues to maintain an active community of users on Steemit and other Steem-based applications. The platform processes thousands of transactions daily, primarily related to content rewards and social interactions. While activity has decreased from its peak, the platform maintains consistent usage for its intended purpose.
Development Activity
The platform maintains regular development updates and improvements, though at a slower pace compared to its earlier years. The core functionality remains stable and operational.
Token Distribution
The initial distribution included a portion to early adopters and developers, with the majority of tokens now distributed through the platform's reward system. New tokens are created through inflation and distributed to content creators and curators.
Crypto Impact
To assign a comfort level investing in Steem from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Steem.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.