Steem, the so-called "social blockchain", was designed to power blockchain-based blogging and social media platforms, and serves as the core technology for popular applications such as DLive and Steemit.
The Steem crypto blockchain functions on the deligated-proof-of-stake (DPoS) consensus mechanism and users get 10% of block rewards when they serve as "witnesses" when validating the Steem networks. 75% of these rewards then get sent to a rewards pool from where users are compensated for creating and interacting with content on Steem-powered decentralized applications (dApps) and decentralized social networks. So, users are rewarded for creating content and also moderating and curating it.
The Steem coin is STEEM, which is used for staking as well as rewarding users. The majority of newly minted STEEM is dedicated to the rewards pool.
Steem (STEEM) price history shows the highest value of 1.38 USD . We recorded this price on April 11, 2021, but we cannot exclude that a higher price was registered before April 11, 2019.