Steemit saw some great news today. Apple officially approved the high potential cryptocurrency to the iOS App Store. STEEM thus joins a number of supported cryptos including Bitcoin, Ether, Dao and Ripple tokens. This comes after a version of JAXX (crypto wallet), Dash and Ethereum Classic were rejected. This is some really promising news.
Launched in beta in May, Steemit is the world's first decentralized reddit/medium-esque platform that allows users to post, create and curate original content. Since launch Steemit has experienced a 1600% growth in its user base and is continuing to grow at a rapid pace. At the time of this writing, Steem has a registered user base of 80,000+ (and growing), the 7th largest cryptocurrency on Poloniex and a market cap of $82.4 Million.
“It’s great validation for the Steemit community and all of the incredibly hard working developers who have been building third party Steem applications off our blockchain. Developers have already been creating apps for Steem in droves, and today’s acceptance to the iOS App Store gives developers access to potentially hundreds more use cases and million more users.” ~CEO/Co-Founder of Steemit, Ned Scott
⇒Steemit Co-Founder Interview with TheAnarchist
Steemit solves one of the biggest problems facing most cryptocurrencies, which is the difference between scalability vs usability. At Steemit, we're seeing both problems being solved in a unique fashion never seen in the crypto world before.
This news for Steemit comes at the heels of the criticisms of many centralized platforms, like YouTube and Facebook.
One of my favorite YouTubers, Casey Neistat, among other YouTubers made social media waves the past week as the YouTube Corporation took away monetization without telling its members. I'll make a more detailed post about this soon but I see massive potential for people who are using other social media platforms to make money on posting original content.