Steem is a decentralized, blockchain-based social media and content platform launched in 2016 by Ned Scott and Dan Larimer. It operates on a Delegated Proof-of-Stake (DPoS) consensus mechanism and powers a variety of decentralized applications (dApps), the most well-known being the social network Steemit. The ecosystem uses three core digital assets: STEEM (the primary cryptocurrency), Steem Power (SP, used for voting and influence on the network), and Steem Dollars (SBD, a token designed to be pegged to the US dollar). In 2020, the Tron Foundation acquired Steemit, Inc., the platform's initial developer, which led to a contentious community split and the creation of a hard fork named Hive.

Founded in

United States