Introduction to Steem for uninformed peoples
Hello Steemit community !!!
I am working of a presentation of Steem blockchain of ~500 words for peoples who know nothing about Steem and blockchain technology. Here is my first draft !
What is Steem?
Steem is a next-generation, decentralized social network that pays its actors with its own digital currency: the steem.
But more precisely, what does this mean?
By decentralized social network, we mean that the steem network belongs to nobody. There is no central authority. Unlike traditional social networks like Facebook, Twitter, Linkedin or Youtube, no company owns, controls and resells your information and creations.
What's more, Steem is a foundation on which anyone can build applications and businesses freely! Steemit.com is especially the first application built on this network and looks very much like a blogging platform. Other platforms like busy.org (resembling many to facebook), Zappl (equivalent of Twitter) and others are built on it. The best is that all the actors in this "ecosystem" are paid directly by their own social actions!
Remunerating its actors, how?
Steem, by being a Blockchain, is capable of generating its own digital currency (and this in a decentralized way) and redistributes it throughout the network. Approximately 75% of the steems emitted goes into a "reward pool" and allows users (content creators, curators and commentators) to redistribute the money to each other by voting on the content and comments of each other. 15% is redistributed as compound interest to Steem Power holders, and 10% is used to pay witnesses who secure the network! The steem, like all currencies, is exchangeable with them (even fiat money lie U.S dollars, yens, euros, etc.) and in its own court governed by the supply and demand of its community.
Waow waits! Do not go too fast. Blockchain, witness, steem power ... what's the meaning of all this?
Ha yes, these are important concepts to clarify!
Let's start with the base: The blockchain!
Blockchain is the technology to decentralize the exchange of values and therefore create digital currencies! These are large decentralized databases, managed by algorithms that are decided by the community around the project. A digital token (or digital currency) is associated with it and its value is regulated by the supply and demand of the community.
In the case of steem, this database contains, among other things, the posts, comments, votes and transactions of the users.
The Steem Power now!
So steem is the currency that is mainly redistributed when people vote for their content and comments they prefer on the platform. The steem power (SP) is the same currency, but applied differently. It is in fact the power of influence of the users on the platform. The more someone holds of steem power, the more that person will have power over the reward pool. For example, actually someone with ~ 1200 SP will be able to redistribute the equivalent of $ 1 U.S in steem with each vote. Also, the more a person hold steems power, the more it will receive compound interest related to the ~15% of the issued steems redistributed to SP holders.
And who are the "witnesses"?
Witnesses are the 50 peoples elected every 3 months by the members of the network to secure the network. Their work is simple (but a little technical): Caring for a 24/7 computer that contains a complete copy of the blockchain and constantly updates it by checking the new data entries by hundreds of thousands of users.
Finally, what would I gain by participating in this?
Whether you're a journalist, painter, musician, blogger, poet, writer, entrepreneur, merchant, creator of memes, investor or whatever you have to share, Steem is the ideal network for you! You earn a lot more money than on Facebook, Youtube and other traditional social networks. Or simply if you are a regular social network user you can be paid to do what you already do naturally and that in a free and community way!
What do you think about this text ? If you get into the skin of someone who has never heard a word about Steem and blockchain, how do you feel ?
If you find the text good enough, don't hesitate to share it for presenting Steem to your friends !
Steem on !
Sign up while you still can. With the current developments in rewards. It will be very hard to earn extra cash over this platform. Because everyone else will have a huge amount of Steem Points
The early bird catches worm?
The objective of the network is to share with the most fairness possible the rewards. It's already better that it was !