steemit performance system
Steemit has gathered a lot of momentum since 2016, and Steemit’s cryptocSteemit has gathered a lot of momentum since 2016, and Steemit’s cryptocurrencies have a surprisingly large market cap. With over 170,000 users at last count, Steemit is quickly becoming the next social media giant.urrencies have a surprisingly large market cap. With over 170,000 users at last count, Steemit is quickly becoming the next social media giant.
Steemit, the new social mediaplatform that rewards its user base with cryptocurrency, has been growing exponentially since its inception. The company has revealed that over the course of its first month membership has grown by 1,600%, all the while using its blockchain-powered platform to pay users for posting content.
Ilustration posting steemit
Steemit is based on a concept similar to Reddit. The website features a wide range of content and its main page, and users can upvote or downvote that content based on the perceived value of that content.
What makes Steemit different is that the text content is saved in a blockchain. Using a blockchain allows Steemit to reward comments and posts with secure tokens and value. Steemit has two different digital tokens, including STEEM and Steem Dollars. STEEM is a cryptocurrency token, while Steem Dollars are pegged to the US dollar.
Steemit can also host images. Users can upload images and other multimedia content.
To format posts, Steemit uses a WYSIWYG editor, although users can also choose to use Markdown formatting with HTML elements.
CEO Ned Scott says he can’t believe the speed of growth the website has seen and says this social media engine will change people’s online experiences. He explains in the announcement:
We have worked so hard to perfect Steemit and give anyone an opportunity to make money by creating and curating good content. Based on reactions from experts and testing from our consumers, we knew that the reception would be strong, but Steemit is so much further along than where we thought it would be. In about a month, the market cap of Steem has increased two and a half times, page sessions have jumped by nearly six times, and the Steemit blockchain is now seeing twelve transfers, posts or votes every minute on average. These are phenomenal numbers and we are excited that our growing community is engaging in a fun and potentially lucrative social medium.
in stemiit we also provide steem dollar, in the form of money every consumer ... who gets like us or from others.
Steem Dollars are an interest-generating asset. When you hold Steem Dollars, you’ll receive an interest rate. As of March 2017, the interest rate is set at 2% per year. That interest rate may rise if the value of Steem Dollars drops below the value of the US Dollar. It’s kind of like Steemit’s built-in monetary policy mechanism.
You control the digital tokens above from your Steemit wallet. The web-based wallet lets you easily transfer Steem Dollars and STEEM. Additionally, the wallet lets you transfer tokens to and from interest-generating accounts. If you deposit your cryptocurrency into a savings account, it will take three days to withdraw.