You are viewing a single comment's thread from:

RE: Steemit| Is it a niche of an Ecosystem...?

One question

In this environment, there are witnesses who draw in with the cycles of mining and approving the monetary forms

what do you mean?

In steem we talk in a different way. Not like bitcoin, in steemit we talk about a reward pool instead of mining. Here in steemit 65% of new tokens go to reward pool and 10% to block producers (we call them witnesses)likewise.

It is very simple in simple words.

The dissemination of these monetary standards among the users relies upon author rewards and curation rewards. So you can be remunerated by both posting on your blog and by voting and commenting on other's posts.

yeah, we can reward by posting, commenting, and voting. very true.

You need to study well before write. There were some mistakes in your early article also. The fact about steem production.

Steem is continually expanding in supply by 100% each year because of non-SBD motivating forces.

this is not like this. It is not increasing. Don't trust me just check the blue paper well to get a clear idea.

"The rate that new tokens are generated was set to 9.5% per year starting in December 2016,
and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation
will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5
years."
source of evidence, blue paper page 2

Be careful about the knowledge you give

Sort:  
 3 years ago (edited)

In steem we talk in a different way. Not like bitcoin,

Sure, this is not all about steemit. I just mentioned here what I gaind about cryptocurrency ecosystem to my knowledge. That's why put topic here as that the steemit is a niche of an ecosystem. I need to tell that this is not about the steemit ecosystem.

It is better to use simple English. I even tried with some English-speaking friends to understand this.

 3 years ago 

Aahh sorry for the trouble you have faced. Next time I will try to put things more simply to understand. Thank you for the consideration

Coin Marketplace

STEEM 0.18
TRX 0.16
JST 0.030
BTC 61720.10
ETH 2429.72
USDT 1.00
SBD 2.63