Steem Announces Third Phase of Incredible India Poetry Contest
Date: 2025-07-11 Author: Henry Casey Categories: BUSINESS
Steem has started the third week of the Incredible India Poetry Contest. This time, participants are asked to reveal the theme “The Sound of Silence”, which involves conveying feelings through the motifs of solitude, nature, and unexpressed thoughts. The creative works are accepted until July 13.
For more information about the contest, please read the official tweet from STEEM.
Steem is a decentralized blockchain protocol specifically designed to support user-generated content platforms with a built-in reward system. It combines the capabilities of social media and cryptocurrency, creating an open and transparent environment where anyone can publish materials, rate the creativity of others, and receive rewards in cryptocurrency for it. Steem became the first blockchain-based social platform to provide a stable and decentralized infrastructure for monetizing digital activity.
The delegated proof-of-stake (DPoS) technology that underlies Steem ensures high transaction processing speeds and minimal latency. All user actions — publications, votes, comments — are recorded in the blockchain, and the reward system automatically distributes tokens depending on the contribution of each participant. A particularly important element of the mechanism is content voting: the more positive responses a publication receives, the higher the reward for its author and curators. Transparency, lack of centralization, and the ability to control your actions create a stable and fair ecosystem.
The main asset of the network is the STEEM token, which is used to pay authors and curators, as well as to conduct transactions within the platform. In addition, there are two derivative tokens: Steem Power (SP), which affects the weight of the user's vote and the distribution of rewards, and Steem Dollar (SBD) — a stable coin pegged to the US dollar. This tiered token system helps maintain balance in the ecosystem, encourages long-term participation, and provides flexibility in using the platform.
Thus, Steem not only offers a platform for creative expression and earning, but also supports modern technology that makes the process of user interaction transparent and efficient. Participating in the Incredible India competition is a great chance to showcase your talent and get acquainted with the unique Steem ecosystem.
