Steem is an experimental Proof of Work blockchain with an unproven consensus algorithm.
- No Pre-mine, No ICO, No IPO
- Currency Symbol STEEM
- 1.000 STEEM block reward at launch
- Approximately 113% APR long term inflation rate
Steem was announced on Bitcointalk prior to any the start of any mining.
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Rather than attempt to describe the rules of the blockchain, it is up to each individual to inspect the code to understand the consensus rules.
The mining algorithm used by Steem requires the owner to have access to the private key used by the account. This means it does not favor mining pools.
./steemd --miner=["accountname","${WIFPRIVATEKEY}"] --witness="accountname" --seed-node="52.38.66.234:2001"
Make sure that your accountname is unique and not already used by someone else or your proof of work might not be accepted by the blockchain.