Steem is an open source blockchain protocol that can store social information and distribute tokens based on the Proof of Brain algorithm. As a blockchain with fast transaction speed and large transaction volume in the world, Steem can support multiple blockchain protocols for user oriented applications, including busy.org, d. tube, dlive.io, steel.com, dsound.audio, etc.Steem blockchain creates opportunities for entrepreneurs by providing an extensible blockchain protocol. Their applications can use this protocol to store users' content, social information, account information, JSON metadata, etc., and authorize these users to earn Cryptocurrency tokens (called STEEM) in exchange for sharing this information. STEEM tokens have the best in class attributes, such as three second transmission and no need to pay, thanks to Steem's three second module and Delegated of Take algorithm.With the upcoming Smart Media Token Protocol (SMT), the community will add the functionality of the Steel blockchain, allowing any entrepreneur, developer, or community builder to launch their own customizable STEEM like tokens at the top of the Steel blockchain and provide specific smart contracts for ICOs, automated market makers, autonomous token allocation, founder tokens, and more. SMT will fully leverage the speed and scalability of Steelm blockchain, enabling entrepreneurs to leverage all the lessons learned from Steelm and Steelmit.com to tokenize their platform and guide the value of their tokens.STEEM can be used to activate 'Steem Power', exchange SBDs in the internal market, cancel orders, trade BTCs or other digital tokens, and purchase items through third-party stores.
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