↝ Steem Coin: Innovative Social Engagement through Blockchain Technology
Steem Coin represents an innovative step in digital social engagement. Most prominent for powering Steemit , a blockchain-based social media...
HIVE coin, designed to function similarly to Steem, experienced a successful hard fork and began outperforming STEEM which had a significant value dip. This follows the controversial purchase of Steemit by Justin Sun. His alleged attempt to control the blockchain resulted in the Steem community resisting by launching a hard fork, namely Hive. Binance CEO, while offering support, criticized the centralization of STEEM. Simultaneously, the STEEM community managed to confiscate $6.3M through a hard fork, adding more complexity to the landscape.
Further drama unfolded as Steem stakeholders started migrating to Hive, emphasizing non-reliance on Steem. Amid these conflicts, Steemit is described as a 'Decentralized Reddit' rewarding users significantly, thus confirming synergy between blockchain and social media. Wallets suitable for STEEM were also highlighted, and STEEM's long-term price predictions continue to stir conversations among investors.
On a positive note, leveraging STEEM for incentivizing social media has been marked as an innovative move. Similarly, a new digital currency named Koinos plans to launch its free-to-use blockchain mainnet, a concept that could shape future social DApps. However, Steem was locked by Justin Sun and experienced some bad press due to accusations of scams and market manipulation further fueling migration to Hive.
STEEM Coin News Analytics from Thu, 05 May 2016 07:00:00 GMT to Tue, 18 Jun 2024 07:00:00 GMT - Rating -5 - Innovation 4 - Information 5 - Rumor 4
