What is Steem Dollars?

Steem Dollars were designed as an attempt to bring stability to the world of cryptocurrency and to the individuals who use the Steem network. Steem Dollars are created by a mechanism similar to convertible notes, which are often used to fund startups.

In the startup world, convertible notes are short-term debt instruments that can be converted to ownership at a rate determined in the future, typically during a future funding round. A blockchain based token can be viewed as ownership in the community whereas a convertible note can be viewed as a debt denominated in any other commodity or currency.

Steem Dollars are referred to with the symbol SBD, an acronym for Steem Blockchain Dollars. Creating SBD requires a combination of a reliable price feed, and rules to prevent abuse. Providing a reliable price feed involves three factors: minimizing the impact of an incorrect feed, maximizing the cost of producing an incorrect feed, and minimizing the importance of timing."

-Steem.io
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General

TICKER SYMBOLS
SBD
AGE
3 years old (March 24, 2016)
CURRENT PRICE
$0.99552
Updated 4 minutes ago via cryptocompare.com
CHEDDUR ALL TIME HIGH
$53.45
11 months ago
CIRCULATING SUPPLY
8,873,406 coins
Updated 3 minutes ago via coinmarketcap.com
MARKET CAP
$8,833,651
Updated 5 minutes ago

Technical

CONSENSUS MECHANISM
Proof of Work (PoW)