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RE: Is Steem a deflationary blockchain?
I agree with you when you admit that you do not know how coinmarketcap calculates the tokens in circulation but I understand that the creators of each project notify CMC how much token they have created and how much token is in circulation at that time and then the algorithm of CMC calculates how much token is circulating in each exchange house that the token is registered.
I do not know if this is true I have only heard it before.
Thanks for the reply! It's pretty close to the blockchain's "current_supply" property, which is published on the various blockchain explorers, but it's off by about a million or so. From my reading, I believe you're right that coinmarketcap takes the number from a Steem API using a method that was provided by the Steemit team.