Steemit 101 - The Social Network That Pays You
Steemit.com is a blockchain-based social network. While still in beta, the project attracted a significant user base and it grew fast.
Although on the surface it looks just like a "normal" social network, like reddit or twitter, under the hood things are way more complicated.
As a matter of fact, Steemit has quite of a learning curve. Not only because it's blockchain based (how data is saved and retrieved is completely different here) but also because it generates rewards for people posting, rewards paid in a cryptocurrency called STEEM. Which obviously rises all kind of questions:
where does the money comes from?
is this revenue predictable?
what is the difference between posting and curation rewards?
what are witnesses?
why do you have to vote for witnesses?
what is Delegated Proof of Stake?
and so on.
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