10 facts about steemit you to know as newcomer.

Steemit is a blockchain based social media platform where users can earn cryptocurrency rewards for creating and curating content. It operates on the Steem blockc

hain and has features similar to other social media platforms like posting, commenting, and voting, but with the added incentive of earning cryptocurrency.

1. Blockchain Based Social Media: Steemit is a blockchain based social media platform where users can earn cryptocurrency rewards for creating and curating content.

2. Built on Steem Blockchain: It's built on the Steem blockchain, which uses a delegated proof-of-stake (DPoS) consensus mechanism.

3. Reward System: Users on Steemit can earn Steem tokens (cryptocurrency) through various activities like posting, commenting, and upvoting content.

4. Content Variety: Content on Steemit ranges from articles, blogs, videos, artwork, and more.

5. Decentralized Governance: Steemit has a decentralized governance model where users can participate in decision-making processes through voting.

6. Forked Projects: There have been several projects forked from Steemit, including Hive, which was created after a controversial hard fork in 2020.

7. Community Driven: The platform is driven by its community, with users having significant influence over content promotion and platform development.

8. Monetization Opportunities: Steemit offers monetization opportunities for content creators, allowing them to earn income directly from their content.

9. Censorship Resistance : Due to its decentralized nature, Steemit claims to offer censorship resistance, meaning content cannot easily be removed or censored by a central authority.

10.Challenges and Criticisms: Like any platform, Steemit faces challenges and criticisms, including issues related to content quality, governance, and the fluctuating value of its cryptocurrency.