Market cap
$5.93M
-0.03 %
Volume (24h)
$799.93K
-0.03 %
Circulating supply
9,801,650 SBD
Total supply
9,801,650 SBD
Steem Backed Dollars (SBD)
$ 0.61
-0.03 %
Main info
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Key data
updated $0Market cap$5.93M
Volume 24h$799.93K
Circulating supply9.8M
All-time high$19.02-97% from peak · 2021-05-19
Steem Backed Dollars (SBD) is a cryptocurrency token pegged to the US dollar, designed to provide stability within the Steem ecosystem. Its ticker is SBD, and it operates on the Steem blockchain. SBD acts as a bridge between volatile cryptocurrencies and traditional fiat currency.
Frequently asked questions
What is Steem Backed Dollars and how is it different from other cryptocurrencies?
Steem Backed Dollars (SBD) is a stablecoin pegged to the US dollar, unlike most cryptocurrencies that fluctuate in value. It is specifically designed for use within the Steem ecosystem, offering stability for transactions and rewards.
How does the technology behind Steem Backed Dollars work?
SBD operates on the Steem blockchain, utilizing a decentralized consensus mechanism called Delegated Proof of Stake (DPoS). This ensures fast and secure transactions while maintaining its peg to the US dollar.
How is Steem Backed Dollars issued?
SBD is issued as part of the Steem ecosystem’s reward system. Users earn SBD through content creation, curation, and other activities on the Steem platform, with the supply dynamically adjusted to maintain its peg.
How can I store and use Steem Backed Dollars?
SBD can be stored in wallets compatible with the Steem blockchain, such as Steemit or Hive. It can be used for transactions, tipping content creators, or converting to other cryptocurrencies within the ecosystem.