What Is Steemit
Steemian's Best Friend
Steemit is a social networking and blogging sites on top of the database blockchain Steem. Blockchain Steem generates STEEM and Steem Dollars that can be used by token users to get posts, find and comment on interesting content.
Steemit, Inc. is a private company headquartered in New York and headquartered in Virginia. The company was founded by Ned Scott and Dan Larimer, creator of BitShares.
History
On July 4, 2016, Steemit, Inc. officially launched Steemit, a social media with virtual money prizes that run on the blockchain of Steem. On March 15, 2017 Dan resigned as chief technology officer and marketing team announced with Mitchel Loureiro @zuvarnic and @andrachy. Frank Rimalovski, Andrew Haines and William Mougayar @wmougayar are temporary advisory boards @cass, Jeffrey Paul @sneak, James Calfee @jamesc and Valentine Zavgorodnev @val-aare some staff members.
Concept
Steemit's idea was originally described in a white book released in March 2016 [4] which was subsequently updated in August 2017.
The concept is generally similar to blog sites or other social news sites such as Reddit , but the text content is stored in blockchain. The use of blockchain enables award tokens to be provided for any useful comments and posts to be safe. Content of images can be uploaded and hosted on Steemit, while other multimedia content must be embedded from other web hosts. For the format, there is a WYSIWYG editor. Users can also choose to use the Downdown format with HTML elements .
User accounts can increase the number of posts and comments, and an upvoted writer will receive rewards in the form of a cryptographic money prize named STEEM and a dollar -pegged token , called Steemit Dollars. Awards are also given to users who curate (find) popular content. Curation involves commenting on voting and postal items. The power of reward and mastery of rewards is influenced by the number of STEEM power held by the electorate
Financial system
Blockchain steem has two tokens: STEEM and Steem Dollars. There are also enthusiasts who invest or store their tokens in a form known as Steemit Power. Stealth Power is strictly used internally in the Steem community, whereas tokens are used for stored and traded values.
Steemit initially wore the supply model with a very high inflation rate, doubling approximately every year. However, due to public demand, on December 6, 2016 the rate of Steem inflation changed to 9.5% per year, down 0.5% per year.
Here's a Glance Explanation About Steemit
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Source: https://id.wikipedia.org/wiki/Steemit