This publication is addressed to all those people who, like me, feel overwhelmed and confused about how the Steemit network works. The intention is that at the end of the reading of this "post" we are able to incorporate ourselves with a good understanding of the functioning of this revolutionary way of conceiving social networks and generating income on the internet.
Steemit can be very confusing even for a person like me who for several years is engaged in cryptocurrency mining; and it is that its conception and way of functioning, although it is extremely simple, is really revolutionary.
Steemit is an innovative mix between three fundamental pillars of the current internet that are:
Social networks
The generation of income working on the internet and,
The new technological revolution of the cryptocurrencies that use the chain of blocks or "blockchain".
In order to understand what Steemit is and how it works, at least basic notions of each of these pillars must be taken into account. Therefore, I will highlight below the most important aspects that we have to be clear about each of these pillars. Above all, I will try to explain in more detail, in a clear and concise way, what refers to cryptocurrencies, which are ultimately the means used to monetize our work in this social network and is precisely what people are normally not familiar with. .
tired of having social networks and not winning anything steemit is for you
he social network steemit is not different from any other social network, that is to say, communities must be created around a great variety of particular interests. In this network people create their content, which can be videos, photos, articles, etc., and publish it with a label or within a particular topic so that the rest of the community can read it as it is done in any other community. or social network. The difference is that when a person who has read or consumed the content, and it has seemed to have been of quality or very good, this person issues a vote equivalent to a "like". For each vote that receives the content its author will begin to earn some cryptocurrencies called STEEM. In the same way, the person who took the time to review the content and announce to the rest of the community that this topic is good, also receives a remuneration in the form of the STEEM cryptocurrency. Later on I will describe how those STEAM cryptocurrencies work and are converted to normal dollars or as it is known in fiat financial jargon.
How do you earn money online working on the internet?
Traditionally, the most effective way to earn money through the internet is to build a website or blog where people post quality content on topics or specialized topics that they usually know very well, in such a way that they generate a huge traffic of user visits. of the internet that are interested in that content. But the content itself does not generate income, the money usually comes from advertising that must be placed on the website, and depending on the service or advertising provider the author will earn for each click that users make in advertising, or for the number of times shown, or by sales commissions, etc.
This way of generating income, which is the most widespread of all, involves having to place a lot of publicity on the website or blog, and even prioritize this publicity over the content in order to have the opportunity for visitors to our blog or website to interact in the most efficient way with that advertising. This is known as the CTR factor or "click through rate" that determines the profits of the site.
The technological revolution of the cryptocurrencies and the chain block or "blockchain"
Cryptocurrencies can be considered as a form of digital money, although strictly speaking they are not, and their denomination and classification depends on the legal resolutions that each country has taken. Take into account that today there are dozens of different cryptocurrencies and new cryptocurrencies are constantly being created as the specific case of STEEM.
In any case a cryptocurrency can be exchanged for its equivalent in fiat (fiat is any currency of legal tender like the dollar) in the various exchanges (exchange houses) that exist for this type of exchange between all types of cryptocurrencies and fiat.
In short, you can exchange exchanges from one type of cryptocurrency to another, or change from cryptocurrency to dollars, euros, yen, etc. Therefore, when you receive a cryptocurrency, it can be considered that you are receiving liquid money.
The cryptocurrencies are received and sent between wallets (wallets) and the balance of the coins only exist in the wallets. The wallets are identified by a very long string of characters, for example this is a bitcoin wallet address:
1GXp68LDVoGibh92rtzCzFxD2LU5iCtAtw
If you are going to work with the bitcoin cryptocurrency that is the most recognized of all, you will need a bitcoin wallet. If you plan to use the litecoin cryptocurrency you need a litecoin wallet, and so on. That is, each type of cryptocurrency needs a specific wallet for that cryptocurrency.
The revolutionary proposal of Steemit.
As I mentioned at the beginning of this "post", Steemit is a mixture of a social network with an internet income generation system that has created its own cryptocurrency to pay for the work of all participants within that community. The key question is: Will it work?
Social networks have proven to be extremely successful in generating wealth and knowledge; the production of high quality or at least high consumption content has proven to be an effective means to achieve economic growth and knowledge generation; the cryptocurrencies that have broken into the financial world in the last five years, especially the chain of blocks that very soon the big banks will end up adopting, have been very successful and have generated a system of exchange and preservation of monetary value. Therefore, it is logical to think that if all these systems are successfully integrated, they should generate a whole new way of conceiving the exchange of information, work and wealth on the internet. That's Steemit's big bet.
Steemit is definitely something totally new in the world of social networks, in the generation of income through the internet and the application of new emerging technologies.
Personally, this experiment called Steemit I consider the first working prototype that points out at least one of the possible paths for the future of a true web 3.0.
