Steem Dollars (SBD)
Rank #1181
Market snapshot
- Price
- N/A
- Market cap
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- 24h volume
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- Circulating supply
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- Total supply
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- Max supply
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What is Steem Dollars?
Steem Dollars (SBD) serves as a cryptocurrency within the Steem blockchain ecosystem. It enables users to engage in content creation while earning cryptocurrency rewards. The platform is designed to reward users for sharing content, thus fostering a community-driven environment.
How Steem Dollars works
Steem operates as a social blockchain that rewards users for sharing content, creating immediate revenue streams. It is capable of processing more transactions than Bitcoin and Ethereum combined, supporting over 1 million users across more than 324 Steem-based applications. This blockchain is specifically built to handle social applications, allowing developers to create engaging and functional blockchain-powered applications without incurring costs.
Key information
- Symbol
- SBD
- CMC rank
- #1181
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Jul 18, 2016
Key characteristics
Steem is an open-source blockchain protocol designed for web and content applications. It facilitates near-instant, fee-less transactions and includes built-in content-specific primitives, making it easier for developers to integrate and build applications. The platform's architecture supports scalability and high transaction throughput, distinguishing it from other blockchains.
Documented uses
Steem is positioned as a next-generation blockchain technology that is fast, free, and scalable, making it suitable for various applications in content creation and social media.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What are Steem Dollars?
- Steem Dollars (SBD) is a cryptocurrency that allows users to earn rewards for their contributions on the Steem blockchain.
- How does the Steem blockchain operate?
- Steem is a social blockchain that rewards users for sharing content, enabling immediate revenue streams and supporting a large user base.
- What are the technical features of Steem?
- Steem is an open-source blockchain designed for web applications, offering fee-less transactions and scalability.
- What should I know about transferring Steem Dollars?
- Users should verify the asset and destination details before transferring, as transactions may be irreversible.
- Where can I find official resources for Steem?
- Official resources for Steem can be found on their website and GitHub repository.
- How can I verify my acquisition of Steem Dollars?
- Verify the asset name and network details before any transfer to ensure the correct acquisition.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
