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Steemit witnesses,what do they use to measure the right price feed for steem?
2 ANSWERS

Steem witnesses usually use an automated software that connects to various exchanges to get their price of Steem. The software then calculate the average price and submits it to the blockchain.

Although it is possible to submit the price manually, I don't think any of us do it as it would be too tedious to send those update multiple times a day.

As @kendricko mentioned, it is important for Steemians to choose which witnesses they are voting for because on the Steem blockchain this is about trust. 

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The steemit witnesses uses steem prices all over the exhanges and create an average price from

all the prices,the average price will the most common price on all the exchanges at that

particular moment,some witness also use the official steem price showing on

Coinmarketcap.com they use the steem price showing on the website to determine the price which they will set on the price feed on the steem

platform,that is why we need to keep voting in good witnesses that will not make any attempt to

manipulate the steem price for selfish reasons or to perpetrate fraud...
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