Introduction to steemit - Steem.it is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, curating quality content by upvoting and by holding Steem based currencies in a vest fund, which generates interest.
Similarly, Steemit users are vying for upvotes, but this is because engagement and attention lead to actual financial reward. Steemit rewards users for posting, commenting, and even just upvoting other content. Rewards are paid in the platform’s native cryptocurrency, STEEM.
About Steemit Community - Steemit, Inc. is a privately held company based in New York City. So behind this blockchain platform is a private company, not a random group of developers as is often the case. Compared to some of its blockchain bretheren, Steemit is relatively simple.
Steemit Is Best Then Other Social Networks -
1 Steem is liquid and can be bought in an exchange and converted into steem dollars or steem power.
2 This is a platform where all users able to earn a lot of money
3 It is a new open source of technology
Steem is a proof of work currency with a scheduled blocktime of 3 seconds. Steem PoW mining is done in rounds of 63 seconds by 21 miners (witnesses). 19 of the miners are pre voted, one is the other with the most computational power, and the last one is selected from a queue of witnesses that did not get on the top 19 voted witnesses.
90% of the block reward is allocated to a vest fund to reward curators and PoW miners, the other 10% are made liquid in the form of steem and are used to reward content creators. Steem gets converted to Steem Backed Dollars and sent to the content creator.
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