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It is decentralized in a way that it is opensource (you can build it on your machine) and you can connect to any rpc node (or connect to your local node) to get content from Steem.
We do have additional services on top, like drafts, bookmarks, scheduling, image upload, notifications, etc.

You did get a shout out during the stream for running your own API node as well. Thank you for that.

cool, i'll have to look into that ... thanks a bunch