One of the unique features of Steemit

in STEEM DAILY STORYlast year

STEEMIT 2.png

Steemit is a social media platform that runs on a decentralized blockchain called Steem. It was founded in 2016 by Ned Scott and Dan Larimer, and it combines elements of social media with cryptocurrency.

Users on Steemit can create and curate content, and they are rewarded for their contributions with Steem, a cryptocurrency. Steemit users can also earn rewards by upvoting and commenting on content created by other users. The more popular a user's content is, the more Steem they can earn.

One of the unique features of Steemit is that it is powered by a proof-of-brain algorithm, which means that users are rewarded based on the quality and popularity of their content, rather than on the amount of money they have invested in the platform.

Steemit has been credited with helping to popularize the concept of block chain-based social media, and it has attracted a large and active community of users. However, the platform has also faced its share of controversies, including accusations of vote-buying and a lack of transparency in its moderation policies.

Overall, Steemit is an interesting and innovative platform that has the potential to disrupt traditional social media models. It remains to be seen whether it will be able to overcome the challenges it has faced and achieve mainstream success.

Steemit is built on top of the Steem blockchain, which is a decentralized and immutable ledger that records all transactions on the platform. The Steem blockchain is powered by a network of "witnesses" who validate transactions and contribute to the security of the network.

In addition to Steem, there are several other cryptocurrencies that are used on the Steemit platform, including Steem Dollars (SBD), which are pegged to the value of the US dollar, and Steem Power (SP), which represents a user's influence on the platform. Users can earn Steem, SBD, and SP by creating and curating content, and they can use these cryptocurrencies to purchase goods and services or to exchange them for other cryptocurrencies on various exchanges.

Steemit has a reputation system that allows users to upvote or downvote content based on its quality and relevance. This system helps to ensure that the most popular and valuable content rises to the top of the platform.
Steemit has a number of features that make it different from traditional social media platforms, including the ability to earn cryptocurrency for creating and curating content, the use of blockchain technology to ensure transparency and security, and the ability to customize user profiles with various themes and layouts.

Steemit has faced criticism for its lack of transparency in its moderation policies, as well as accusations of vote-buying and other forms of manipulation. The platform has also faced challenges due to the volatility of cryptocurrency markets, which can affect the value of Steem and other cryptocurrencies used on the platform.

Coin Marketplace

STEEM 0.27
TRX 0.12
JST 0.032
BTC 57369.97
ETH 2943.81
USDT 1.00
SBD 3.63