Community post
Help needed to understand the steem-system
Hi,
my name is David and right now I'm trying to wrap my head around this whole steem-system. I've already read the whitepaper, but - obviously - this thing is a bit too complicated to understand everything from first sight.
What I've understood so far:
- There are three different ways to hold the steem-currency
- the most important one is steem power, which gives the holder more "power" to vote for content on steemit (and probably other platforms to come)
- the amount of steem is going to double every year, but because 90% of the new tokens are distributed to steem-power-holders, it will be closer to a 2:1-stock-split than to actual inflation
- the other 10% of new steem are distributed to miners and content-creators
What I've understood partially:
- the steem that is distributed to the content-creators is a fixed amount relative to the current overall-supply.
- there is a somewhat complicated system to prevent users of upvoting too much content in a short period of time.
What I haven't understood yet:
- What is part of the actual blockchain of this system? Is it the whole content or just a pointer (like a hash or something)?
- How does the reputation system work?
I'm thankful for every good link to explanations, further documents or interesting videos and audios.
Thank you!
Replies (2)
Great post. Same question here. Though I think the actual content goes in the blockchain. An expert opinion will be appreciated.
Like you, I'm a newbie--but I've discovered the most information from digging around in the topics column. There are all kinds of tutorials by people who are learning as they go--just remember to keep posting and blogging.
Oh-and apparently it is #1 on your to-do list: Make an Introduction with a picture of yourself holding up a piece of paper showing the date!