If Ethereum was supposed to be the story of the year before the DAO attack, Steem is promising not only to take over as the cryptocurrency of the year, but it is also poised to become the most prominent blockchain project this year. Steem has seen a 1,000% surge in value during the past 2 weeks, a feat that took Ether about 6 months to complete. This new cryptocurrency, which powers a social network, is now in third place in terms of cryptocurrency market cap, relegating Litecoin and Ripple to fourth and fifth place on the list, respectively. Its secret seems to be precisely its social network angle, which is unique in the world of cryptocurrency.

Steem for the Average Internet User

Anyone who uses Facebook, Reddit or blogs on a WordPress based site, will be able to transition into Steemit instantly. The main advantage of Steemit – the platform on which the cryptocurrency Steem is used – is that it is a collective effort, in which content writers will be rewarded. All the other…

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