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Launched in April 2016, Steem is a blockchain-based platform that rewards content creators, curators, remitters for distributing meaningful content and helps them build their communities. It uses DPoS as a scalable blockchain consensus algorithm for publicly accessible and immutable content.

Blockchain is a decentralized peer-to-peer system with all of its nodes widely distributed across the internet. The data stored on the ledger from every node is in sync with each other and modifying data without consensus is nearly impossible. The most significant achievement of blockchain technology is that it manages to maintain trust in networks on a global scale without any central authority. At the center of this technology, are consensus algorithms.