Have you ever wondered where the money from STEEMIT come from or how STEEMIT is able to pay a large volume of money to content creators? Well Today i would be shedding some light on how the whole process works. Well to make my explanation easy to understand . Think of it like:
1. A Bitcoin: Thesame way bitcoin create coin out of thin air to reward it miners who contribute their hashing power to support the network is the same way STEEMIT rewards users who post contents , make comment on its platform to support the platform . Its sort of mining the coin in some way but this time instead of contributing hashing power to support the network , you participate by uploading content to support the platform . So content sharing, commenting does what mining does to bitcoin to STEEMIT
2. Fee : The is a fee paid by people who uses the steem currency , trade or speculate the currency
3. Company: A new Company can issue new stock to pay for workers and investors. STEEMIT has it own kind of currency called "STEEM"(a sort of stock in the steem network) . When you hold this stock , if it appreciate ,you are entitle to get a share of the stock of the social network
This are some way i think STEEMIT is able to pay it users for their efforts. Do you know of any other way ? drop your comment below and share your opinion
