SBD-Steem DollarsDetailed Description

SBD-Steem Dollars Detailed Description

STEEM is a social networking forum using blockchain technology. Various activities that users participate in will be rewarded in the form of network currency. The community's currency comes in three forms: Steem, SteemPower, and SteemDollars. SteemDollars can be approximated as equivalent to $1 in real money. It can be regarded as short-term savings, and SteemDollars can be converted into STEEM within 7 days. At the same time, users can obtain corresponding interest.

1. Project introduction

Steem is the first public chain project in the blockchain field to realize content platform incentives. The product structure is mainly divided into three layers: Steem public chain, Steemit application, and SMT currency issuance contract.

1. Steem public chain

Main functions:
1) Incentivize users to publish content or comments;
2) Incentivize users to answer questions and provide high-quality answers;
3) Provide a stable cryptocurrency linked to the US dollar;
4 ）自由支付；

2. Steemit 应用

Steemit 是第一个基于Steem 的博客平台应用，由Steem 的团队开发，导航分类包括「流行”, “Latest”, “Hot”, and “Promoted” in four categories. Content forms include pictures, text, video, etc. It is mainly used to show the application scenarios of Steem to developers, so as to motivate developers to develop new content applications based on Steem.

Steemit 特点：
1）用户所有的信息上链，日常行为均被记录，并公开在区块浏览器上。 In addition to SP, Reputation (prestige value), registration time and other information, all related transactions, replies, likes, Follow, comments and other behavior information that occurred on the platform from the beginning of registration will be sorted in chronological order and made public. in the block explorer.
2) Users can only modify published content within 7 days.
3) It does not support users to delete posts, only to modify them to blank content.
4) All editing records of posts and comments published by users are recorded on the chain and recorded in the block browser.
5) User post size is limited to approximately 64,000 characters including formatting.
6) Design content plagiarism punishment mechanism to encourage originality. If users plagiarize or copy other people's original content, they may be involved in legal disputes due to violation of copyright law, and at the same time, they will be trampled or reported by community members.
7) When a user publishes a post, they can choose to use Steem Dollars for promotion. There is a "Promote" button at the bottom of each article. After clicking the button, users can enter the amount of Steem Dollars they want to spend, and then click "Promote". This post will be displayed in Steemit's "Recommended" tab. The order in which posts appear in the list depends on the promotion price of the post. Posts with higher promotion amount will be higher than those with less promotion amount. Users can promote their own posts or posts liked by other users.
8) Password recovery is not supported. At present, Steemit does not support users to retrieve their passwords. Once the password is lost, the corresponding currency page in the account cannot be retrieved.

3. SMT 发币合约

1) SMT，全称为Smart Media Tokens，即一套支持生成代币的智能合约，可以使其他内容Developers use and issue tokens belonging to their own system. SMT is mainly to empower other content developers with Steemit's successful experience, including consensus mechanism, incentive system, etc., and ultimately enrich Steem's content development ecology.

2) Steem 的产品矩阵齐全。 The Steem public chain is mainly to help the content platform to develop applications. SMT supports the content platform to issue its own tokens (similar to the Ethereum coin issuance function). Steemit has made a good case demonstration for content developers. This product matrix provides a good realistic basis for the ecological development of Steem.

技术介绍

Steem 采用 DPoS 共识机制，每一个环链由 21 名见证人依次打包处理。 20 of the 21 witnesses are selected by voting, and the last one is randomly generated by the witnesses who failed to enter the top 20. 21 official witnesses shuffle the order in each chain and generate blocks sequentially. Valid witnesses are known in advance, and Steem is able to schedule witnesses to generate blocks every 3 seconds.

Steem uses Graphene (graphene technology), maintaining more than 1,000 transactions per second. With simple improvements to server capacity and communication protocols, Graphene can easily scale to 10,000 transactions per second or more.

Steem 借鉴 LMAX 交易所的经验，LMAX 交易所能够每秒处理 600 万笔交易。 LMAX 交易所的经验主要包括如下几点：

将所有事务都保存在内存中；
将核心业务逻辑维持在单线程；
将加密操作（散列和签名） Isolated from core business logic;
Divide validation into state-dependent and state-independent checks;
Use an object-oriented data model.

Token 生态系统

Steem项目Token生态设计了三种类别的资产分别为：Steem(STEEM)、Steem Power(SP)和Steem Dollars(SBD)。 Through the mutual restriction relationship of these three types of assets, the stable development of the Token ecology of the Steem project is realized.

Steem: It is the currency in the system, which can be circulated freely. Steem is a digital currency, and its price will fluctuate due to market influence. The SBD is the dollar in the system, with less volatility, which is beneficial to the stability of the system. And Steem is a transition item between SBD and SP, that is to say, if you want to convert SP into cash, you must first convert it into Steem, then convert it into SBD, and then you can withdraw cash. vice versa.

Steem Power：（通常简称SP），是衡量用户在Steem网络中的影响程度，可以理解为用户在Steem上的权利值。 The higher the SP a user has, the more they can influence the value of posts and comments. SP is distributed by the platform in proportion, that is to say, as long as you register and do nothing for a day, you will also have SP distributed to you. For example, if you have an account in a bank, the bank will give you a certain amount of interest every day.

Steem Dollars：（通常简称SBD）就是Steem里流动的现金，和美元挂钩，一般是1:1的兑换比例。 That is to say, you can buy SBD directly with cash, and then buy services on Steemit, or you can exchange SBD for Steem.

4. Steemit 内容激励机制

Steem 社区内容激励途径包括：发布文章、评论、投票。 Posts and comments are kept for 7 days, and when this period is over, users can claim their earned rewards. In Wallet, click the Claim Rewards button to add tokens to the account.

1）发帖奖励

作者可以选择的收到奖励的方式有如下三种：
SP 50％ & SBD 50％
SP 100％
拒绝No rewards can be earned for using this option.

投票将影响该职位在热门排行榜上的位置，但不会从 Steem 的奖励池中获得奖励。 Replies to posts are still eligible for rewards. Screening rewards cannot be earned by downvoting (disgusting) posts or comments. Since dust-voting reduces rewards for posting comments, no rewards will be awarded.

2）投票奖励

投票奖励：用户投票不会损失自己的 Steem 或者 SP ，投票获得的 Steem SP 及 SBD 形式分配。 When rewards for an article or comment are redeemed, those who voted for that article or comment also get a portion of the reward.

3）评论奖励

用户评论收到的投票可以像帖子一样获得奖励，评论之间有 20 秒的等待时间来限制恶意灌水。

4）奖励池的分配机制

75％的奖励将发给帖子的作者（Authors），25％的奖励将发给评论者（Curator)。

如果筛选人(投票人)在帖子发出的前30 分钟内投票，那么25％的部分将分配给作者和筛选人(投票人)，作者和筛选人(投票人)在前The 25% allocation within 30 minutes is calculated linearly based on voting time; if a post is liked at the time it is published, 100% of the screening (voting) rewards go to the author. Liked within 3 minutes, 90% to the author, 10% to the screener. At 27 minutes, 10% goes to authors and 90% goes to screeners.

如果帖子在发帖后的 30 分钟后被赞，则 100％的筛选（投票）奖励将发放给筛选人（投票人）。

2. Review

Steemit is a decentralized social content platform based on the steem blockchain that uses native tokens to reward content producers. It is also the first decentralized application (DApp) on the steem blockchain. All behaviors on the platform can be rewarded with tokens, such as: commenting, posting, liking articles and using different steem DApps, etc. The rewards for articles will vary according to the influence of users in the steem network. Influential steemian, the more high-quality articles they publish, the higher the probability of receiving rewards than others. In addition, peripheral applications such as steemit, busy, and partiko all support markdown syntax, so it is also suitable for users with technical backgrounds. Easier to use.

1. Project introduction

2. Review

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