What is Steemit?
To be able to explain what Steemit is, it is convenient to go back about 10 years ago, to the birth of Bitcoin. At the end of 2009, Satoshi Nakamoto published an article explaining a new P2P protocol that described the operation of a digital currency based on blockchain technology. Since then, this has been considered very useful in the field of economics, as an efficient alternative, an accounting book in which to record all transactions in a given network. However, over the years it has been shown that its usefulness transcends these limits, having different applications in many other areas.
Steemit was created by Ned Scott and Dan Larimer, the creator of the renowned Bitshares exchange. It is a social network built on the top of the block chain of the Steem cryptocurrency, which seeks to reward its users as bloggers and critics, maintaining the basic principle of decentralization, fairly and, of course, self-sustainable.
Steemit is in beta, currently rewards your registration on the platform with Steem Power in your account so you spend it voting for the content published and comments that help you understand an X topic or that you like.
The operation of Steemit is very simple. As a user, you have Steem Dollars and Steem Power. The first can be exchanged for physical money, virtual currencies, sent to virtual wallets. For its part, the Steam Power will serve to vote the publications and comments of other users.
When you make a publication and begin to generate content in your Steemit account, users of the social network decide if they support your content with 1 vote and with this your publication generates a value. 50% of said value will be "consumable" money and the other 50% will be voting power. It is a way to encourage users to stay active on the platform.
That said, we have that Steemit differs from other similar social networks in the way that the information generated within it is stored. In general, these platforms protect all content on their own servers, while Steemit records it in its own chain of Steem blocks on a permanent basis. Here is his important relationship with the crypto-world.
