Blockchain is very diversified and a lot of projects have been built based on the blockchain technology. One of the most common of the projects on the blockchain is the STEEM project.

Steemit is a blockchain based social media and blogging platform that enables users to earn cryptocurrency rewards in form of STEEM for every content they publish on the platform.

I will be giiving a brief explanation of the rewards and how ot is being devided as earning to the users.

• Steem: Steem is like a cryptocurrency, It’s liquid, tradable, and transferable on the steemit website. You can buy and sell it on any of the major cryptocurrency exchange platforms as well as keeping it in secure wallets.

• Steem dollars (SBD): Steem dollars are pegged to the US dollar, this is the reason why the price of Steem dollars can hardly go below the USD price. Steem dollars can also be converted into Steem. Some cryptocurrency exchange platforms also trade Steem dollars.

• Steem Power: Your Steem Power determines your vote weight when you upvote other posts on the network. The greater your Steem Power, the greater your upvote is worth on the network. It is the most illiquid of the three assets on the network. Steem Power cannot be sold directly except after passing through a process called "power down".

• Powering Down: It takes a total of 13 weeks to successfully power down your Steem Power, this means you will receive 13 equal payments over 13 weeks.

NOTE: that the Steem Power is not tradadable, though it can be delegated.

What does it mean to delegate Steem power?

Delegating your steem power simply means that you are giving out a fraction of your Steem Power to anoother user on the platform, hence a negative (-) sign appears behind the value of Steem power delegated. But for the receiver, a positive (+) sign appears behind the amount of steem power delegation he is receiving as shown below.

In the case of the picture above, the user is receiving a 55 Steem Power delegation from another user.

Steemit Wallet

This is how the steem wallet looks like, it shows the balance of all your assets in form od Steem, Steem Power and Steem Dollars (SBD). You can also find the savings an Estimated account value in the wallet section.

Savings

The savings option in your wallet is there for the purpose of storing Steem and Steem Dollars (SBD). This option is useful for users who plan to save or hodl some steem and SBD to be withdrawn in the future, It is advisable to deposit it in the Savings account. It doesn't give any interest, but It provides extra assurance that your tokens are safe because It takes up to the 3 days to withdraw your Steem and SBD back.

Estimated Account Value

This is the value of what you have in your wallet in US dollars, which is based on the tokens available in your account. The Steem Dollar (SBD), STEEM, Steem Power all contribute to the estimated value of your account.

How to Earn Steem to your Wallet

As a new user who intend to earn on the Steem blockchain platform, the first step you have to taake is to come up with interesting contents, original and plaqiarism free contents with properly sourced images, when this is posted on your blog, ensure to use related tags to your content topic.

This piece will be useful for new users who recently signed up on the Steem blockchain. But if you don't have an account yet and you wish to own one, simply follow the Link to sign-up. Have fun and enjoy the Steem blockchain...

All images were sourced from the Steemit Website