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Steem, the cryptocurrency at the heart of the decentralized social media platform rewarding users for their work Steemit, jumped over 1250% since its first payout. The total market capitalization of Steem has surged from $13 million to a height of $260 million right now, shooting past Ripple and Litecoin to become the 3rd most valuable cryptocurrency.
The platform also saw the number of transactions, posts, votes and new users tripled. Less than three months after its founding, the blockchain behind Steemit is handling hundreds of thousands of dollars in trading volume each day, with each transaction, post, and upvote subject to public scrutiny.
Steemit CEO Ned Scott ... (read more)