Steem

Steem(STEEM)

Steem is a public content platform that supports community building and social interaction with cryptocurrency rewards. Steem's main platform, called Steemit, is a social media network similar to Medium.com and Reddit.com
  • Market Cap
    $689.031.003
  • Price
    $2.68141
  • Category
    Social & Content
  • Origin
    US
  • Team Size
    1-10
  • Initial Release
    09/05/2016
  • 10-8 High Potential
  • 8-7 Potential
  • 7-6 Considerable
  • 6-5 Risky
  • 5-0 Scam
Satoshi Rating
  • Product Ratings
    7.2
  • Team Ratings
    7.8
  • Execution Ratings
    6.9
Product
  • The need for the product ⓘ

    8
  • Total addressable market size ⓘ

    8
  • Product/market fit ⓘ

    7
  • How is the product compared to existing solutions? ⓘ

    7
  • How difficult is to make the product? ⓘ

    8
  • Could this product scale? ⓘ

    9
About Product
As of 2018 Q1, Steem has 12+ apps integrated with 50m+ monthly visitors. It doesn't cost money to involve and most of the time you don't realize the products are based on blockchain. In that sense, it is a good UX example. Steem provides an alternative to existing content platforms, alternative ways to monetize and incentivize. On the whitepaper and in theory this monetization rewards quality content, however in practice, it has flaws. Steemit is still in beta and far from perfect, but the platform is evolving (Smart Media Tokens), having alternatives is good and the project it is worth watching.
Team
  • Team's previous experience ⓘ

    8
  • Does the team have a clear vision? ⓘ

    8
  • Is technical team sufficient for building the product? ⓘ

    8
  • Is the team active? ⓘ

    9
  • Is the team size big enough? ⓘ

    8
  • How is the team growth? ⓘ

    9
About Team
As of now, steem.io doesn't have delegated page for the team. Linkedin lists bloggers as company members. Some of the team members can be found in blogposts. Ceo and public face of Steem is Ned Scott. The community is a big part of this startup and it is their choice to put their face on the product. The codebase is opensource and actively developed. Steemit's vision is to empower entrepreneurs to tokenize the internet by providing software enhancements on the blockchain.
Execution
  • Could this team get the product into a market? ⓘ

    8
  • Could they do it in time? ⓘ

    8
  • Did they meet previous deadlines? ⓘ

    8
  • Is the marketing strategy sufficient? ⓘ

    7
  • Team’s previous achievements ⓘ

    7
  • Strategic partnerships ⓘ

    7
  • Current market size ⓘ

    7
About Execution
While we liked the idea, the end result is not we thought it would be. We didn't have enough reasons to switch platforms. This might change in the future, but currently, steem platforms have shallow posts, whales, bots, reposts, copyright issues and people begging for follows or upvotes. It is missing quality content, which we though incentivization would bring. These are known problems to the community and the team
Editor's note

We recommend a through research before investing in Steem. Not because anything wrong with it but it is different from most cryptocurrencies. There are 3 tokens in the ecosystem and there is no need to hold on to Steem (which you get from exchanges). Also in theory number of circulating supply doubles every year which causes steem to lose value but not the other two tokens.

Your Decision?
 
Buy 0
SELECT
Hold 0
SELECT
Sell 0
SELECT

Want to get updates on your selection?

 

We are open minded, welcome change and criticism.
We are willing to go over our ratings, if sufficient evidence comes to light.

SHARE INSIGHTS

This is our rating, lets talk about it on Reddit with the community.

GO TO REDDIT

Initial Rating: April 22, 2018

Last modified: June 8, 2018