How Does Facebook Compare To Steemit?

Steemit is a Blockchain web application that pays users to write, engage and discover. It is a novel technology with lots of potential for the standard user. It is the next-generation social media. Unlike Facebook, their business model allows content creators / bloggers to earn money while building the Steem community. If Facebook doesn’t adjust to the new reality in social media business, they are set to witness a tech-tonic shift of user; in millions. Steemit experienced exponential in its user base from May to June, growing at an alarming 1600%.

Facebook, the giant social media company, is one that attracts the attention of every investor. Advertising sales generate the company approximately 85% of its revenue. This revenue is estimated to be about 14 Billon USD. Through their inspiring and impressive business model, they made more profit than the top 2 US advertisers.

Complex User-Driven Business Models aid Facebook's revenue. However, the entire business model is Data Mining free thus they would rather not do it and keep you (customers) as opposed to trading your information. Facebook’s core business models include:

• Average Revenue per User: This entails the average revenue generated per user compared to the overall company revenue pool. For instance, a company creating 1000 USD from 1000 users evaluates to 1 USD per user.
• Timeline and Adverts: Infinite scrolling by users in an endeavour to explore other users post; generating traffic.         

However, the next big thing in social media may have just arrived. Steemit.com is unlike traditional social media platforms – the newcomer is akin, Facebook built atop Bitcoin. It’s the first social media to harness crypto-currency technologies. Steemit, on July 5, distributed 10% of Steem tokens as a reward to early adopters and contributors of the Steem community. Arguably, this has resulted to unique content submissions in numerous subjects such as finance, politics, and gardening.

Half of Steem’s $1.3 million supply was initially distributed in Steem Dollars, each of which is worth 1 USD. The other half was provided in the form of Steem Power – a token that acts as a measure of voting power within the Steemit social media platform. The platform is transparent and open source hence people can ascertain that their information remains immune to manipulation. Since Steemit is built atop Blockchain technology, the community is censorship-free while still allowing third-party apps to utilize its technology.The underlying blockchain technology that powers Steem deems it the social media pace-setter in the modern blockchain public cloud age. Steemit is unique in that it allows users to earn money by:

• Posting articles
• Upvoting content
• Commenting on articles

Steemit is the platform for everybody eager to share meaningful information ranging from news posts, art, sound, to blog posts. Any valuable digital content can certainly attract a wide audience range, enabling content creators and commentators to leap all profound advantages of the revolutionary Steem blockchain technology. Steemit users visit multiple pages and spend time on the site daily. This trend is continuing, signalling that Steemit is rapidly closing in on Facebook. Steemit visitors are flocking the site so rapidly that it was ranked among the top 20,000 largest site by traffic in the U.S; in just two weeks it was ranked in the top 10,000. Steemit hopes to disrupt the entire social media - with its rapid growth progressing at an ever fast rate, with registrants showing up every day to leap the numerous benefits of the crypto-social media hybrid platform. Such trend could undoubtedly hasten the untimely demise of iconic social media platforms, case in point, Facebook.

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