Steemit is built on top of a Cryptocurrency called STEEM, and it has been making rounds on Social Media as the next upcoming Decentralized Social Network
Most of the important data is stored in Steem Tokens, a Cryptocurrency that utilizes a Blockchain Ledger in such a way that it doest not only have the Security found in Bitcoin for conducting financial transaction but it's also is used to store vast information of data that get's uploaded to Steemit on the daily basis
Essentially all User-generated Content like Post, Comments & Upvotes/Downvotes are all recorded and stored in the Distributed Ledger for not only the purpose of Security but also to put information out there by making it accessible via Steem's Blockchain
User generated content brought about the shift from mainstream media to social media. The remarkable move made people take control of the content they produce by making it for and distributing it to each other, sites like Youtube are known as the Modern HBO while Facebook is the biggest social Network in the world
One thing both of them have in common, is being an Established Centralized Social Media that primarily makes money from free User-generated content
Unlike most Centralized Social Networks like Facebook, Reddit, Twitter & so on, Steemit is deemed as a highly sophisticated platform because it's essentially part of Steem's Blockchain
All data is stored in ''Text'' format, note that Steemit does not Host Images/Videos or any other Data that is not in text format, all these are uploaded via third-party hosting services that provide embedded links
So when you actually see an image in a Post, it's actually hosted from a free services like steemimg.com or pictub.club. Just right-click on the image to press on ''open image in new tab'' and you'll be able source where the file is hosted, this applies for both Videos and other files
Many platform's nowadays support basic files like images & videos, so platform like Steemit or Busy.org are able to utilize the internet to display content from third-party sources.
Once you access Steemit, you get to actually view Images & Videos which other users linked in their Posts or Comments, as it's previewed from third-party hosting services
The Cryptocurrency STEEM keeps all the information stored for platforms like Steemit, Busy.org or Steemd to access. If you posted via Steemit, all the data is stored in Steem tokens, this means all third-party Websites merely connect to Steem's Blockchain and nothing is stored on any other centralized hosting platform
Whenever you involve multiple parties, one must remember that there are certain condition & terms that you must be aware of before sign-up for an account. Facebook for example has the license to use your content in any way it sees fit.
Guess you’ve known that by now...
Twitter can pass any of your content to any partner organizations for any reason and Dropbox can share your data with “trusted third parties” to provide their existing services. This applies to many popular Social Media's....
If he Drops this, there is a chance of you losing your Facebook Account as Data is stored in a particular location and looked after by a small group of individuals
Whenever you engage on Facebook;
All User-generated Data is stored in Facebook Server Centers around the World, information is kept safe and controlled by Facebook Corporations who have the ability to manipulate or censor any information that's not in their favour
There is a lot Facebook Data, however it's restricted to a point that Users don't have entire access to Facebook Database, nor do have the rights to claim certain sensitive information as it's owned by the Facebook Corporation
Sites like Steemd allow users to access the most important information i like to call it Meta data; a set of data that describes and gives information about other data
Metadata summarizes basic information about data, which can make finding and working with particular instances of data easier. For example, author, date created and date modified and file size are examples of very basic document metadata. Having the abilty to filter through that metadata makes it much easier for someone to locate a specific information when exploring the blockchain
With Steem's Blockchain, there is a lot, and i mean A LOT of data hiding in between the discussions. Most individuals won't have technical understanding required to read Steem's Blockchain, in an era where Blockchain Technology is relatively new, one must know how to stay relevant with Constantly changing Technology
Whenever an Individual engages with Steemit's platform, important data is not stored on Centralized databases or Servers, instead the content exists over a Distributed, decentralized network based on Blockchain technology
It's the same technology that powers the digital crypto-currencies like Bitcoin and smart contract platforms like Ethereum
A Decentralized Network is one where you own your content and can make money of from it. Your content is Encrypted so no one, neither Government or Corporation can Censor your ability to Voice & Express yourself, granting you Freedom of Speech
It's platform in hands of those who interact with its Network, creating a Transparent System that stores all the valuable data for all Users to access, Steemit is not a Private but a Public Ledger that is anyone can Explore
I believe that Blockchain technologies have great potential to liberate the world of unnecessary middlemen, reduce transaction costs and do a great service to humanity
Blockchain Tech is a high technology that is still at a very early stage and has not yet crossed the chasm to mainstream markets