Weekly Contest Week 1 - Steem Viral Game - this is My Steem Viral Game - Reward Pool 50 Steem

in Steem Schools3 years ago

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  • Steemit, a new social media platform where everyone gets paid to post online, has been released in beta.
    Background of Steemit

  • Steemit is a relatively new company, founded in early 2016 by Ned Scott and Daniel Larimer. Ned Scott earlier worked for Gellert Global Group, a family-owned private equity group which holds many North American food companies. Daniel Larimer is the founder of Bitshares, which has the 11th largest market capitalization amongst all cryptocurrencies.

The concept:

  • Steemit is powered by blockchain technology and uses a new cryptocurrency to reward users who upload articles, images, commentary, etc. Other ways users can get paid is through sourcing and up-voting popular content.

  • The earlier a person up-votes a post that becomes popular, the more is the reward. Users are paid half in 'Steem Power' (a vesting currency) and half in Steem Dollars, which can be exchanged for US Dollars.

How does STEEM work?

  • STEEM is similar to other digital currencies; it can be traded, sold and exchanged in open market similar to other cryptocurrencies.

How is STEEM different from other cryptocurrencies?

  • Although STEEM is similar to other cryptocurrencies, there is a significant difference between the two, STEEM has three different currency units.

namely:

STEEM:

  • These are the units which are bought and sold for actual money in the open market. The exchange happens in a similar to that of Bitcoin. But, it’s advisable not to hold them for long. In case you hold them, then they might lose value.

STEEM Power:

  • STEEM Power is a long-term investment as you cannot sell them for two years. With it, you can make more money because you have had high ownership of the network. As the system continues to grow so will be your share.

  • Do you know that in the current setup around, STEEM currency is generated every day? Of these the people holding the STEEM Power get 90 percent of the same. The remaining 10 percent goes to the content curator and creators.

STEEM Dollars

  • These currency units value never lowers down or dilute. STEEM Dollars are highly stable currency, and you can sell them anytime. If you create a favorite content, you will get 50 percent of the pay in the form STEEM Dollars.

How to earn STEEM?

  • The process to earn STEEM is simple. Let’s understand this :
  • Upvoting a new topic will also enhance your STEEM Power
    With STEEM Power and STEEM Dollars,

How to get STEEM:

There two ways you can earn it :

  • Buy it from cryptocurrency exchanges like ShapeShift, Bittrex, Poloniex, etc.
    Earn it by posting content, commenting sharing, networking on the STEEMIt platform.

The Future:

  • From the current pace of development, There are efforts to make this platform more user-friendly and straightforward for the ones who are willing to engage on this website. We will see many such transformations in the same in the times to come.

Reasons to Join steemit:

  • community
  • freedom of speech
  • transparency
  • killer app
  • reward system
  • bonus reward
  • everybody is welcomed
  • no sencership
  • unique Pasward

And lot more ,

My message to everyone:

Be positive to everyone , bring new users 👤 to steemit spread the cause.

Special mention to

@steemviralgame

correction in the post is welcomed 😇😇

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