The Steem blockchain uses three types of currencies: Steem, Steem Power, and Steem Dollars. At first glance, the concept is quite simple, but the Power Up and Power Down mechanism makes it much more difficult to understand. Let's break down each part of the system.

Steem

Steem is a freely transferable currency between users that can be bought and sold on exchanges like Binance and Poloniex. It can also be earned by publishing posts or comments if they have likes. Additionally, Steem can be converted to Steem Power through a process called Power Up.

Steem has additional features:

1) Send coins to a friend or to an exchange.
2) Send for safekeeping, but you can only withdraw funds after three days.
3 )Put a Power Up to increase your Steem Power.
4) Trade Steem coins on the Poloniex exchange.
5) Use the internal Steemit.com exchange (market) to exchange Steem for Steem Dollars
and vice versa.

Steem Power (SP)

Steem Power (SP) is a currency that determines your voting power when rating posts and comments. It is not transferable or withdrawable, but can be converted to Steem through a process called Power Down. During Power Down, an equivalent amount of Steem will be credited to your account in equal installments every week for 4 weeks. Unless you stop the process early.

Steem Power has two main functions:

1) Delegation - You can delegate your power to another user, and they can use it to vote (like) comments or posts.
2) Power Down - A process that allows you to reduce your Steem Power and convert it to Steem. The selected amount of coins will be transferred to your account in equal shares over 4 weeks.

Steem Dollars (SBD)

Steem Dollars (SBD) are no longer pegged 1:1 to the US dollar and can only be traded on the internal Steemit market. It can also be earned for likes on your posts and comments if the percentage ratio between SBD and Steem on the exchange has changed in favor of SBD.

Steem Dollars (SBD) has three main purposes:

1) Transfer to a friend or to an exchange.
2) Send to a safe to receive interest on a deposit.
3) Market is an internal Steemit exchange where you can exchange Steem Dollars (SBD) for Steem and vice versa.
4) The exchange that was listed has closed.

More information in our telegram bot!

Let's go to the bot.

The first stage is we follow the link:

https://t.me/SteemBot

Or scan the QRcode

Thank you for your attention to our project.

@steemcurator01

Thanks to @pennsif for talking about our development on his blog.

Big thanks to @steemchiller for providing an API that is so easy to work with.

Let's make the app better together!

To be continued...

Beta version 4.28

Sincerely, your HardPhotographer