The role of the three encryption reward that exist in Steemit

garm (25)in #steemit • 8 years ago (edited)

" Steemit In the platform of", has been introduced three types of currency system. And this different encryption currency, functioning in order to respectively keep the value of the eco-system of STEEM. So what is with the three types of the monetary system, do you integral how such a mechanism.

STEEM
first one-eyed "STEEM" is, in the currency prices are traded in the current external exchanges varies, it is possible to directly exchange with Bitcoin. Users simply use the account name of Steemit, it can be sent easily to the other party. Growing at a rate of 0.19 percent on a daily basis, it will increase about 10 percent in one year. Because of the high inflation rate, inappropriate as the currency to continue to possess, as the half-life of the bit coin to visit once in four years, 3.3 years to once 10STEEM are merged to 1STEEM, event line to adjust the supply amount you crack.

Was made in the new STEEM changes the shape to "Steem Power", the 90% as the interest of the SP holders, the remaining 10% will be distributed to the Sutimian as consideration for the post or vote. Given STEEM is, you can use in order to buy the SP and the SD which will be described below.

Steem Power (SP)
The second "Steem Power" is abbreviated as "SP", it is a cipher reward given at the beginning when you register to Steemit. SP has the role of the currency stick of interest rates, the greater the amount of holdings, many of interest will be given from the network. However, this only three of the internal SP is not able to cede to others, it can not be done only by 1/104 per week to replace the STEEM. It should be noted that to replace everything STEEM will require about two years.

SP gives benefits to long-term holders, given the right to vote in accordance with the savings amount, affects the post remuneration of other Sutimian through curation activities. That is what this SP will have most site improvement value of quality and STEEM of the relationship becomes high, it became a source of factory of energy to create the content of the street Steem name. SP is likely to be retained earnings, it will function as the price decline inhibitory effect of STEEM is inflation currency.

Steem Dollars (SD, SMD , SBD)
last "Steem Dollars" is abbreviated as "SD", there is a feature that is designed to price is peg (fixed) to the dollar. Witness to approve the work of the block, you get the interest of the annual interest rate of 10 percent in this SD. Can directly exchange STEEM in the conversion function on the portfolio, the exchange is necessary for one week, the rate is determined by the median price of the week.

The SD has a benefit in terms of the difference between liquidity and SP, there is no limit to the exchange with the STEEM, a distributed exchange, which is the hotel's in Steemit, it is also possible to buy and sell freely at any time. But unlike "SmartCoin" of bit share's, is not a fully structured price is fixed to the dollar. Network gives the incentive compensation (interest) in accordance with the trading volume, we are to secure liquidity. Also SD is a free transfer is possible, looks good is compatibility with both the settlement because it has been pegged to the dollar. It is available in the community inside and outside as future STEEM, is likely to be able to expect as distribution currency in CtoC market. Benefits high point of the bit coin similar to the early participation is in the SP! The reason for the current price hike is also likely to be hints to the three types of currency mechanism. In other words, than the STEEM in circulation outside of the exchange, is the proportion of only in the interest attaches SP are held is very large. It is, you can guess to have an effect on market capitalization further Sutimian has purchased showcasing its high rarity STEEM. Currently still only a member even less was started, it is likely to say it is also a factor early participation benefits is large. Finally, we summarize the main points, that increase the first early to hit the fuel of Steemit SP is, is likely to say that shortcut to success of stealing Mian life. If holding a lot of SP at an early stage, interest in the compound interest will increase. Further, if held by a lot of SP, a large authority given in a vote to determine the remuneration of the content within the community. In other words, raised the STEEM outside of the exchange, it is likely to say that a quick way to exchange the SP. To change the SP to buy in the open leisure the 1-1.STEEM

STEEM, it is also possible to purchase directly by you to remit bit coin to Wallet of Deposit, but the bad spread is large rate is the difficulty. Therefore, we recommend that you buy in a distributed Exchange open leisure. Since the account is also required for the sale not only the purchase, If you do not already have one, " bitshares.openledger.info Let's create from." To register, including symbols and numbers, only to enter the desired ID and password 10 seconds is possible with. Description page on how to use is as follows.

1-2. Deposit to open leisure
And deposit the funds in order to buy the STEEM After you create an account. Once you are logged in click on the "Deposit / Withdraw", and select the currency to deposit in the pull-down menu. (Example: In the case of BTC) When you select a currency, because the Bitcoin address of you dedicated to the red frame is displayed, and then deposit the bit coin from external to that address.

To buy 1-3.STEEM
Once payment is complete, and then buy the STEEM. Currently " OPEN.STEEM_BTS"," OPEN.STEEM_OPEN.BTC trading in the order "will have been actively carried out.

1-4. The STEEM purchased transfer money to Steemit
Once you purchase STEEM on an exchange, and remittances from the open leisure to Steemit. Select the "WITHDRAWAL" from the "Deposit / Withdraw", and select the currency name "OPEN.STEEM", and then click the "WITHDRAW NOW" in the blue.

You enter the account name of 1-5.Steemit
to remittance destination address "WITHDRAW TO ADDRESS", enter the account name of your Steemit.

1-6. Remittance complete
the confirmation screen is displayed, press the "CONFIRM" button if there is no problem. The remittance will require some fee (BTS).

2 -1 -1 . To exchange the SP (Power Up) the STEEM
now is "Power Up" function of the Wallet of Steemit, to change the STEEM that got the SP. STEEM and SP are exchanged by the equivalent, there is no limit of when exchange. (In the case of a reverse of the SP → STEEM Limited) 2 -1 -2 . STEEM to the exchange to SP (Convert to Steem Power) When you click the "Power Up", because you will see the following screen, the exchange amount of money of choice enter into the "Amount" and press the "Power Up" button. 2 -1 -3 . Currency Exchange to close in the SP when the procedure is finished trading in the "STEEM POWER" of Wallet is reflected, leaving history to HISTORY. 3-1 . The SD to exchange to STEEM SD that Nowak by such as blog posts, only owns not attached interest. Therefore who was replaced by SP if the initial would be good. The change method There are two ways of "Buy or Sell" and "Convert to STEEM". 3 -1 - 1 . Convert to STEEM In the "Convert to STEEM", to change the SD over a period of one week to STEEM. Rate is determined by the median price of the week, once you will not be able to cancel and make this request. 3 -1 - 2 . Convert to STEEM (2) will be displayed. "Convert to STEEM" following screen when you click, you press the Enter the exchange amount of money of choice in the "Amount", "Convet" button. 3 -1 - 3 . Convert To STEEM (3) When you do request, SD will disappear from once management screen. ※ confirmed so far at the moment. 3 -2 -1. Buy or Sell in the "Buy or Sell" The hotel's been distributed Exchange, you can sell or purchase of SD. This time, the sale of SD, you get a STEEM. 3 -2 -2 . Buy Or Sell (2) In order to purchase the STEEM, and enter the transaction information in the form of green Buy. This time, PRICE "3.340 (SD / STEEM)", "0.09 (STEEM)" to AMOUNT, TOTAL will try to enter the "0.3 (SD)". When the input of the order information is complete, it will be displayed at the bottom of the OpenOrders. 3 -2 -3 . Buy Or Sell (3) Upon successful conclusion of a contract, it has been reflected in trading on the Wallet of STEEM. This time has been changed to 0.0090STEEM.