Steem And Steemit - Are They The Same?
I was talking to a friend of mine the other day and became mildly irritated by a common mistake he made. He was confusing Steem with Steemit. Sounds familiar, especially when you speak about Steem and the person thinks you are talking about Steemit or the other way round?
I am sure a number of newcomers who land here(I don't like the term newbies) have the same impression - that both are one and the same. They're not! Actually they are completely different although they do complement each other.
Steemit is the more visible entity being based on a website platform at steemit.com. It is a free platform like the free Blogspot owned by Google =except that it is even better, mainly because you get rewarded for your content after it is published. Steemit is based on the Steem blockchain and that makes it more transparent than any other content based website on the internet.
I guess the founders of Steemit wanted to give it the same branding so they gave the name Steemit since you create and curate content and then Steem It!
Steemit being based on the Steem platform is just the beginning because any number of apps can be built on the Steem network. This is where things start getting even better because in the coming days bloggers and website owners will also be able to utilize Steem for their own sites.
Not just that but they will also be able to give out rewards just like Steemit does, to their readers and subscribers. This will make it a win-win proposition for website owners and Steem. It will also make it one of the most sought after cryptocurrencies once the smart token project takes off in a big way.
But for the time being it is only Steemit since the Smart Tokens are still some time away from being rolled out for website owners. Steemit has caught the fancy of the world's online population in a big way. Never in history has a website paid out rewards on this scale and proportion to content creators. In the initial days Steemit made millionaires out of their content publishers, especially in 2016. Sadly I was not one of the few who joined Steemit in the initial days - where was I? And you? :-)
It is a refreshing change from what other content creators do, for example YouTube. Video publishers get paid mere pennies and with several conditions many of which are considered downright unfair by the creators.
The beta phase of Steemit is also a time where any bugs and issues could be sorted out before the large scale adoption of Steem as a medium to pay out rewards on the internet through Smart Tokens.
Smart Media Tokens have already been taken up and you will find more and more ICOs featuring Steem in their white paper. With the adoption of SMTs, Steem will no longer be dependent on Steemit for scaling up. Actually Steem and Steemit will start complimenting each other even more because of the publicity it receives from SMTs and rewards being paid out by websites on the internet.
So there you are, the difference between Steem and Steemit, and a bit of what the future holds for both.
What do YOU think the future holds, for both Steemit and Steem? Oh, and don't go by the present value of Steem because it always rises after it falls.
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Image sources: Pixabay, Giphy
A very clear definition here my friend. Regarding your question, my personal feel is that the blockchain is going to revolutionize the future! Blessings!
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