Steemit, a nascent social media platform, is trying to change all that by rewarding its users with cold, hard cash in the form of a cryptocurrency. Everything that you do on Steemit—every post, every comment, and every like—translates to a fraction of a digital currency called Steem. Over time, as Steem accumulates, it can be cashed out for normal currency. (Or held, if you think Steem is headed for a bright future.)
Steem powers Smart Media Tokens
Steem is a blockchain-based rewards platform for publishers to monetize content and grow community.
Approx. USD rewards paid since June 2016:
$40,154,371
What are Smart Media Tokens?
An SMT is a native digital asset on the Steem blockchain. SMTs can be launched by anyone to help monetize online content and create incentives to encourage desired user behavior.
SMTs are like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses.
‘Proof-of-Brain’ community incentives
Proof-of-Brain is a type of tokens rewards algorithm that encourages people to create and curate content.
It enables tokens to be distributed by "upvote" and "like"-based algorithms and can be integrated with websites to align incentives between application owners and community members to spur growth.
Faster than Bitcoin and Ethereum, with no fees
Running a rewards-based decentralized social network required new advances in blockchain technology. Steem is a next-generation blockchain, uniquely designed to run real-time applications with near instant, fee-free transactions.
Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum.
Steemit—a social network that pays its community
Steemit is a blogging platform with it's own SMT called STEEM. These tokens are distributed to content creators and curators daily as rewards, based on community voting.
They built Steemit on Steem to show the world the future of the web. They built it to inspire new digital content business models and apps by entrepreneurs and developers.
How much do you Earn to Curate Content? Well that depends!
Will you be writing Original Content? Or Sharing your Photo's? Maybe just REPOSTING (RESTEEMING) others?
Perhaps you don't want to get involved in this or are not sure. Well, just investing in Steem and holding will earn you 10% - lets compare that with any other Savings Account:
The STEEM token is an SMT on Steemit
STEEM is the platform token on Steemit.com. It's distributed to the most valuable contributors by community voting. STEEM is a tradeable token that is easily convertible.
This is THE Social Network Doling Out Millions in Ephemeral Money!
Help POWER US Up by RESTEEMING and UPVOTING to get the word out!
And don't forget to VOTE to get Steem more readily available. Read Here: https://steemit.com/steem/@p-props/help-steem-and-maybe-win-usd200-of-crypto-whats-not-to-like
Reference: Wired and Steem io Bluepaper https://steem.io/steem-bluepaper.pdf