Unlike many cryptos launched in 2017 and earlier, Steem comes with a built-in annual inflation of 100%. The crypto doesn’t have a coin limit. When you post and curate articles on Steem, you get to earn Steem dollars and Steem power. This is in line with the crypto’s rewards-decentralized social network which works around Proof-of-Brain concept. In a bid to make the coin different from Bitcoin and Ethereum, the developers claim that the blockchain is highly sophisticated and uses next-generation technology. The crypto’s blockchain is uniquely designed to run real-time apps with almost instant no-fee transactions. The number of transactions processed by Steem compete with those processed by Bitcoin and Ethereum.
Steemit is a blogging platform which comes with its own Smart Media Tokens (SMT) called STEEM. STEEM is a tradeable token which can easily be converted into Bitcoin or Ether. On the other hand, SMT is a native digital asset which is found on the Steem blockchain. SMTs can be launched by anyone when they want to monetize online content. This, in turn, creates incentives hence encouraging desired user behavior. Even though quite similar to Ethereum ERC-20 tokens, the SMTs have Proof-of-Brain properties and token distribution reward system. This makes it easy for the network to offer seamless digital content.