What is Steemit and STEEM power?
Steemit is potentially a much better alternative to Facebook and other centrally-controlled social media networks. Steemit is a free decentralized social media platform without the intervention of third parties who could use this information for commercial purposes or to send and censor the shared information. Centrally-led social media platforms like Facebook are on Facebook's servers. This centralized control and ownership of all data storage is a risk and may be misused by Facebook itself as well as other third parties such as intelligence services. Eventually, it is commercial purposes that benefit Facebook's shareholders at the expense of, inter alia, the privacy of its users.
This is not the case with Steemit. Steemit was built on a blockchain technology and data storage is not done on server farms owned by commercial parties. Steem will not be able to misuse your personal information for advertising purposes and annoying ads. No, there are no ads generated based on your posts, search and internet browsing behavior, and your personal profile. Steemit is not driven by a centrally managed currency and respective profit distribution.
Steemit is also powered by its own crypto coin, the STEEM for rewarding people who contribute to the decentralized network of the Steemit community. Everyone can earn a reward in STEEM. You can contribute to the community by posting content or by voting and commenting on a post. Steemit has been designed from the ground up to address the main barriers to adoption and making money from a social media-based economy. The proposition is, in fact, that the same principles used for the development of social media platforms can be applied to launch a successful crypto currency. Economic stimulus made possible by cryptogeld can dramatically facilitate the growth of a new social media platform. Developers believe that it is synergy between cryptogeld and social media that Steemit can quickly develop. Steemit has more and more users as a platform and Steem as a cryptogeld has soon acquired a good market capitalization. The Steemit platform is still in its infancy and is still under development. Steem is now cheap and can be a nice investment to add your crypto currency portfolio to. For 0.1 BTC you can buy thousands of STEEM power. You also get free STEEM power when you open a Steemit account. If you have your bitcoins, you can then buy a lot of STEEM power through this crypto exchange widget now that the price is so favorable.