Steem is a cryptocurrency used to power the platform Steemit – an incentivized blockchain social media platform.
Users create and curate content on Steemit just like other social news platforms (e.g. Reddit, Hacker News) and get rewarded in Steem for their work.
Steem represents a fusion of ideas, drawing from both social media and cryptocurrencies to create a new kind of platform. Anybody can create, share or upvote content on the Steem network, earning cryptocurrency tokens based on performance within the community.