Few crypto projects have gotten as much attention and caused as much controversy as Steem. The blockchain-based social media platform launched early this year and managed to gain real user traction building up a vibrant community of contributors. The Steem token quickly entered bubble territory reaching a market cap of almost $400m and losing 90% of its value since.

Steem Co-Founder and CEO Ned Scott joined us to discuss the ambition of the project and its short tumultous history. We also discussed some of the accusations against Steem and its unorthodox launch.

Topics covered in this episode:

How Steem was launched out of the BitShares community
The different components and tokens of the Steem system
How Steem rewards content contributors
The controversial Steem launch and criticisms of the project
Why Steem transitioned from Proof-of-Work to Proof-of-Stake
The potential disbalance of power due to the Steem distribution
How Steem managed to build a vibrant user community

Episode links:

This episode is hosted by Brian Fabian Crain and Sébastien Couture. Show notes and listening options: epicenter.tv/162

Ned Scott: Steem – The Blockchain-Based Social Media Platform