Bitcoin and Blockchain Technology Inspire New Projects in Social Networks

The cryptocurrencies and blockchain technology, today, words of the future. However, nothing more equivocal: virtual currencies and encryption systems that make them secure are a reality that marketers and advertisers, sooner or later, have to take advantage of.

In the range of options that the web offers on these topics, Steemit, a social network that takes advantage of blockchain technology to reward its users for their currency: the Steem. A coin, which like Bitcoin, is already in the market.

Its operation is similar to Reddit, like a traditional blog: users write publications to which photos, videos, links or mentions can be added to other Steemit accounts. These publications can be promoted through the chats, with the use tags and in the channels that the network has.

That message (or what to call it) has seven days of "life" to be voted on or commented on by others. During that time, it generates income. Then, it is registered in the blockchain forever. It can be edited, but it can not be deleted.

The red one pays with Steem to generate content, both for publishing, and for commenting or voting on the emails of others. 50 percent pay it in "consumable" money and the other half with what it calls "voting power". It is a way to feed the red, so that users remain active members.

The reward with the cryptocurrency can be three ways: Steem, Steem Dollar and Steem Power. "The first is used for the operation of the network and to be marketed in exchange houses like Poloniex, Open Ledger, Bitterx or ShapeShift, like the Steem Dollars, with the difference that the latter always have a value close to 1 to 1. with the American dollar, "they explain in CriptoNews.

The Steem Power, meanwhile, is the "influence" that the user will have to vote or publish. More power, more rewardas like receiving

Its co-founder is Ned Scott, who Steemit in March 2016 with Dan Larimer, creator of Bitshares.

There is much to know and investigate in this type of development. The truth is that we do not know if this is the only reason why there is more to reach the stardom of others like Facebook or Instagram. However, something is clear: in the virtual world everything changes very fast and you have to be very careful to get there first.