On July 4, Steemit users were rewarded with around $1.3 million worth of the digital currency, Steem Dollars, or 10% of Steemit’s current market cap, to users who have been uploading content and voting on Steemit.
Since its launch two months ago the fast growing social media site has grown at a phenomenal rate with its popularity increasing day by day. By plugging into a blockchain called Steem, the decentralized social media platform rewards those who deliver the best commentary, images, videos, and articles to the site.
Steemit CEO, Ned Scott, said that the reward distribution was the first of its kind in the world of cryptocurrency and was the ideal way for the company to say thank you to Steemit’s growing community by rewarding its users in a system that is continually improving.
Steemit social platform is better than any other social network out there. I love it and reddit is gonna regret for not paying their members :D