Core to the Steem blockchain logic is the action of voting. There are 2 types of votes on the network:

  • Vote for witnesses to be block producers / validators
  • Vote for content

The fundamental unit of account on the Steem platform is STEEM, a cryptocurrency token. Steem operates on the basis of one-STEEM, one-vote. Under this model, individuals who have the highest STEEM Power in their account, have the most influence over how contributions are scored and which witnesses becomes approved by the community.

Voting Token Rewards

Token rewards are distributed by the amount of rshares backing a given article. Authors are given the option to receive rewards in STEEM Power or split the reward between STEEM Power and STEEM Dollar (50% each). How much is distributed is dictated by the token's reward curve, reward pool, price feed and how many people are competing for it.

Upvotes & Downvotes

When content is published by authors it is then available for applications to be display on their website. Users (curators in this context) can upvote or downvote(also known as flagging) depending on whether they appreciate the content or find it abusive (spam, plagiarized content, etc.)

Voting Authority

This type of transaction requires the user to enter their private posting key in order to be broadcasted.

Learn more: Steem whitepaper

Last Updated: 10/26/2018, 12:57:51 PM