Steemit in a Nutshell (Beginners Only)
Chances are you really didn't take the time to read the Steemit Doc
A 32 page white paper on "An incentivized, blockchain-based, public content platform." In addition, you probably didn't want to go through all the FAQ
You are not alone. Ofen times people are two excited and just want to start posting material as if this is any other social media platform. However, Steemit is not just any other platform. Steemit is a social media blockchain that rewards users for creating and voting on content. Steemit pays people who provide meaningful material that adds value to the community with SBD.
1.) What is a Blockchain?
a public ledger this is where transactions are stored.
Why is this important?
Accountability
Identity Management
Asset Tracking
Transparency
Reniging
Blockchain demystified: a decentralized data base that stores a public registry of assests and transactions across a peer to peer network.
How is this public registry protected?
This public registry of "who owns what" and "who transacts what" is secured through cryptography.
What is cryptography?
code binding contracts between individuals
Note: each Block holds data
2.) What is the Steem Blockchain?
a storage for data, transactions and history of all processes.
3.) How fast is a block produced?
every 3 seconds
4.) What is Steemit?
A front-end interface
A privately based held company
5.)What is Graphene?
state of the art blockchain technology that uses "witnesses" instead of "miners"
6.) What are the differences between Steem, Steem Power and SBD?
Steem is blockchain database
Steem supports community building
Steem rewards contributions and participants with cryptocurrency
Steem is a free market economy that supports fair accounting and transparency
Steem uses a "sweat equity principle" which basically means that everyone who contributes to the venture should receive pro-rata ownership or debt
7.) What is SBD?
SBD are blockchain based tokens... these tokens can be thought of as convertible notes
What are the advantages of SBD?
minimized risk
maximized cost
minimizing timing
basically.... maximizing the return for token holders.
The Difference between Steem and Steem Power
Steem is a liquid currency and can be bought, sold or transferred
Steem Power is an access token that grants holders exclusive powers
Steem power has a 13 week vesting schedule
Here are the basics to help get you started.
You will notice that the banner area doesn't allow you to drop and crop images. You will also notice that the image size is unusual compared to other social media sites. Here are some tips to help you get started.
Tip #1
Sign up on Imgur and create your banner.
The banner image size should be 2048x 512
https://imgur.com
Most Newbies will not know that they have 4 keys
Do not use your master key to sign in (very important)
Steemit pays content creators in cryptocurrency this means you need to keep your investment safe. You do not want your master key to fall into the hands of someone other than you,
Tip #2
Click on Wallet
Go to Permissions
You will see 4 key codes
The 4 keys are
1.) Posting Key (Daily Login)
2.)Active Key (Transfers $)
3.)Memo Key (unknown)
4.) Master Key (Owner key can not be replaced. Do not loose. Keep safe. If you lock yourself out of your profile page you are S.O.L.)
Note: you will notice there is a little block to the side of the key that says [show key] [hide key]
