Project Details
Steem aims to support online communities by rewarding meaningful contributions in the form of cryptpocurrency and I don't know about you but that is more than enough reason as to why I'm helping out by translating the Steemit White Paper.
Taken directly from the Steemit White Paper
Steem aims to support social media and online communities by returning much of its value to the people who provide valuable contributions by rewarding them with cryptocurrency, and through this process create a currency that is able to reach a broad market, including people who have yet to participate in any cryptocurrency economy.
Steem is built on different principles based on successful principles like social media platforms or from the free market. The 3 key principles take from the Steem White Paper states that:
I. There are some key principles that have been used to guide the design of Steem. The most important principle is that everyone who contributes to a venture should receive pro-rata ownership, payment or debt from the venture. This principle is the same principle that is applied to all startups as they allocate shares at founding and during subsequent funding rounds.
II. The second principle is that all forms of capital are equally valuable. This means that those who contribute their scarce time and attention toward producing and curating content for others are just as valuable as those who contribute their scarce cash. This is the sweat equity principle and is a concept that prior cryptocurrencies have often had trouble providing to more than a few dozen individuals.
III. The third principle is that the community produces products to serve its members. This principle is exemplified by credit unions, food co-ops, and health sharing plans, which serve the members of their community rather than sell products or services to people outside the community.
Links related to the translation
- Github Link
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- Screenshot 1 of Translation
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Source Language
English
Translated Language
Filipino (Tagalog)
Current Status: From 13% to 24%
Number of words yet to be translated: 9,045
Number Of Words
Number of words for this contribution: 1,308
Total number of words contributed to the project: 3,066
Proofread Words
None
Previous translation on the same project
Posted on Utopian.io - Rewarding Open Source Contributors