Steem (STEEM) API and Price Oracle

Steem is a blockchain-based social media platform that aims to revolutionize the way content creators are rewarded for their contributions. The underlying technology behind Steem is blockchain, specifically the Graphene technology developed by BitShares. Graphene is a highly scalable and efficient blockchain protocol that allows for fast transaction processing.

Steem operates on its own blockchain, known as the Steem blockchain. This blockchain is maintained by a decentralized network of computers called nodes, which collectively validate and record transactions. The Steem blockchain is designed to handle a high volume of content-related transactions, making it suitable for a social media platform.

The functioning of Steem involves three key components: content creation, curation, and rewards. Users can create content in various forms such as blog posts, articles, and videos. Once the content is published on the platform, other users can curate and upvote the content they find valuable. The more upvotes a piece of content receives, the higher it ranks on the platform.

The unique aspect of Steem is its reward system. The platform rewards content creators and curators with Steem tokens, which have a market value. The amount of rewards a user receives is based on the quality of their content, as determined by the community's votes. This incentivizes users to create high-quality content and engage with the platform.

Steem also utilizes a delegated proof-of-stake (DPoS) consensus mechanism, where users can delegate their voting power to trusted individuals called witnesses. Witnesses are responsible for validating transactions and maintaining the network's integrity.

In summary, Steem is a blockchain-based social media platform that leverages Graphene technology. It operates on its own blockchain, rewards users with Steem tokens for content creation and curation, and uses a DPoS consensus mechanism for transaction validation.

Steem is a blockchain-based social media and content platform that offers several benefits compared to its direct competitors. One primary advantage of Steem is its decentralized nature, which allows users to have more control over their content and data. Unlike traditional social media platforms like Facebook or Twitter, Steem operates on a blockchain, ensuring transparency, immutability, and censorship resistance.

Another benefit of Steem is its unique reward system. Unlike other social media platforms that rely on advertising revenue, Steem rewards users for their contributions through a cryptocurrency called Steem. Users earn Steem tokens based on the popularity and engagement their content receives. This incentivizes content creators and helps build a vibrant ecosystem where quality content is encouraged and rewarded.

Compared to direct competitors like Reddit or Medium, Steem offers a more direct financial reward for content creators. While these platforms rely on upvotes and likes, Steem's reward system provides tangible monetary compensation.

Additionally, Steem offers faster transaction speeds and lower fees compared to other cryptocurrency-based platforms. This is made possible by its Delegated Proof of Stake (DPoS) consensus mechanism, which allows for faster block generation and scalability.

With its decentralized nature, unique reward system, and improved transaction speeds, Steem provides a compelling alternative for content creators and social media enthusiasts. However, it's essential to recognize that each platform has its strengths and weaknesses, and user preferences may vary based on their specific needs and preferences.

Steem is a blockchain-based social media platform that allows users to create and curate content. It has its own native cryptocurrency called STEEM, which serves several purposes within the Steem ecosystem.

One common use of Steem is for content creation and curation. Users can create blog posts, articles, videos, and other forms of content on the Steem platform. They can then earn STEEM tokens by receiving upvotes from other users. The more upvotes a piece of content receives, the more STEEM the creator earns. This incentivizes users to create high-quality content and engage with the platform.

Another common use of Steem is for social interactions and community building. Users can follow others, comment on posts, and participate in discussions. They can also use STEEM tokens to reward and show appreciation for content they find valuable. This creates a vibrant and interactive community on the Steem platform.

In addition to these common use cases, one specific case where Steem is used is for decentralized blogging. Steem allows users to publish their blog posts directly on the blockchain, making them immutable and censorship-resistant. This is particularly useful for individuals and organizations operating in countries with strict censorship laws or for those who want to ensure the integrity of their content.

Overall, Steem is used for content creation, curation, social interactions, and decentralized blogging. Its native cryptocurrency, STEEM, plays a crucial role in incentivizing and rewarding users for their contributions to the platform.

DIA's Steem API is one of the many API endpoints provided by DIA. These endpoints supply real-time price feeds for various crypto assets, including Steem. DIA constructs these price feeds by sourcing raw data from over 85 on-chain and off-chain exchanges, gathering information from billions of individual trades. This comprehensive data collection allows DIA to offer unique insights that other web3 data providers cannot match.

While DIA does provide free API endpoints for developers to test, their custom feeds are the highlight of their offerings. The free API endpoints can be accessed on the DIA App, providing standardised price feed information that is purely for informational purposes and testing. However, if users require a custom configuration for a feed, DIA can build a dedicated API price feed tailored to their specific needs. These custom feeds offer flexibility in terms of sources, methodologies, update mechanisms, and more.

DIA's API has a wide range of use cases within the blockchain ecosystem. Some potential applications in the DeFi space include derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets. In the NFTfi sector, the API can be utilized for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and more.

In summary, DIA's Steem API is just one component of their comprehensive suite of API endpoints that provide real-time price feeds. While DIA offers free API endpoints for testing, their custom feeds offer a more tailored and flexible solution for users with specific requirements. These custom feeds can be utilized in various ways across DeFi and NFTfi applications, enabling innovative use cases within the blockchain ecosystem.

DIA's Steem price oracle is a smart contract that provides real-time price feeds for cryptocurrencies. DIA is unique in that it can deploy price oracles across 35+ layer 1 and layer 2 networks, making it incredibly versatile. These price feeds are constructed using raw data from over 85 on-chain and off-chain exchanges, ensuring accuracy and reliability.

While DIA provides free demo oracles for developers to test in their documentation, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA offers custom configuration options for users who require a dedicated price feed oracle. These custom oracles can be tailored based on sources, methodologies, and update mechanisms, providing users with a personalized solution.

To request a custom feed, users can reach out to DIA via Discord or Telegram. This emphasis on custom oracles highlights DIA's commitment to meeting the unique needs of its users and providing them with the most relevant and accurate data.

As for use cases, DIA's price oracles can be utilized in various ways within the blockchain ecosystem. These include derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and many more. Additionally, DIA's oracles can be applied to NFTfi applications such as peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

Overall, DIA's customizable oracles and extensive network integrations make it a valuable resource for obtaining accurate and real-time price data in the blockchain space.

DIA's STEEM API and Price Oracle offer a multitude of benefits for users in the blockchain ecosystem. One of the key advantages is the high level of customization available. Users can tailor each oracle and API endpoint to their specific needs, including selecting the data sources that make up the feed, applying data cleaning filters and pricing methodologies, and determining the update mechanisms and frequency. This allows for robust and resilient data and oracles that can adapt to unique market conditions and provide both global and specific market prices, whether at an individual or cross-chain level.

Transparency is another major benefit provided by DIA's API and oracles. Users have full and granular visibility into the entire data journey, ensuring transparency and trustworthiness. DIA also offers tracking and monitoring tools that enable users to closely monitor the performance of their oracle and API feeds.

By leveraging DIA's technology, users gain access to accurate and reliable price data for cryptocurrencies and NFTs. The customizable nature of DIA's API and Oracle ensures a tailored solution for every user, meeting their specific requirements and providing them with the necessary tools to navigate the blockchain ecosystem effectively.