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Few crypto projects have gotten as much attention and caused as much controversy as Steem. The blockchain-based social media platform launched early this year and managed to gain real user traction building up a vibrant community of contributors. The Steem token quickly entered bubble territory reaching a market cap of almost $400m and losing 90% of its value since.

Steem Co-Founder and CEO Ned Scott joined us to discuss the ambition of the project and its short tumultous history. We also discussed some of the accusations against Steem and its unorthodox launch.

Topics discussed in this episode:

- How Steem was launched out of the BitShares community

- The different components and tokens of the Steem system

- How Steem rewards content contributors

- The controversial Steem launch and criticisms of the project

- Why Steem transitioned from Proof-of-Work to Proof-of-Stake

- The potential disbalance of power due to the Steem distribution

- How Steem managed to build a vibrant user community

Links mentioned in this episode:

- Steem Website: https://steem.io/

- Steemit.com: https://steemit.com/

- Why Every Blockchain Needs a Constitution: https://steemit.com/blockchain/@dan/why-every-blockchain-needs-a-constitution

- Charlie Shrem Article on Steem Launch: https://steemit.com/steem/@charlieshrem/was-the-launch-of-steem-a-scam-or-the-only-legal-way-thoughts-on-steem-by-charlie-shrem-a-week-later

- The History of Steem Launch in Words of Dan Larimer: https://steemit.com/steem/@joseph/the-history-of-steem-steemit-launch-in-the-words-of-dan-larimer-from-the-early-launch-days

- Bitcoin Talk Thread on Steem Launch: https://bitcointalk.org/index.php?topic=1427230.0

- Bitcoin Stackexchange: What is Steem?: http://bitcoin.stackexchange.com/questions/46007/what-is-steem-and-steemit

Sponsors:

- Ledger: Smart card security for your Bitcoins - Get 10% off your first order when you use the code EPICENTER - http://ledgerwallet.com

- Jaxx: Wallets that Unify the Blockchain Experience Across Devices - http://jaxx.io

This episode is also available on :

- Epicenter.tv: https://epicenter.tv/162

- YouTube: http://youtu.be/gg_MHqXa4yI

- Souncloud: http://soundcloud.com/epicenterbitcoin/eb-162

Watch or listen, Epicenter is available wherever you get your podcasts.

Epicenter is hosted by Brian Fabian Crain, Sébastien Couture & Meher Roy.