Breaking News - Steemit May Become Killer App

With Steemit being touted to be the bridge that has the ability to bring people who have no interest in cryptocurrency into its world, Steem overtook The DAO to be the world’s fifth most valuable cryptocurrency following its 1000% plus growth in the days following Steemit’s first cryptocurrency payout on July 4. After the $1.3 million giveaway, the number of transactions, posts, votes and new users signing up to Steemit’s decentralized Reddit-like platform tripled.

In a media release its CEO, Ned Scott, says:

“After the successful payout on July 4, consumers have seen that our system really works. Everyday users are jumping onboard our social network and many early adopters have benefited. People have started saying that they have paid their rent with money earned on Steemit. Others have bought cell phones, washing machines, and even paid their electricity bills. We have constructed perhaps the first Blockchain application that anyone can use. Content creators and curators have enjoyed earning valuable crypto rewards through a fun and seamless experience.”    

Steemit is on track to become one of the largest and fastest growing cryptocurrency projects worldwide in less than three months of its inception. As Steem reaches millions of people in the next year, it could possibly choke Bitcoin's capacity if all the people were to use Bitcoin as a gateway to buy in and/or cash out each month.

Eeks, in a post on Steemit, wrote that Steemit is the killer app Bitcoin has been waiting for to bring fresh and diverse people into Bitcoin and into cryptocurrencies.

Read full article here:
http://cointelegraph.com/news/steemit-may-become-killer-app-as-it-looks-to-draw-1-mln-bitcoin-users-yearly