This intend to be as brief as possible. I intend ending the section of intro to Steemit for newbies and Steemians. But before that I will be droping two more updates
- How steemit Generates income to pay Steemians.
- Promotion Scam you must avoid.
To know more about earnings see this
To know the right time to vote and all about curation Rewards see this
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If you have ever operated with the blockchain you will understand a concept called minning. Where you help solve problems as a minner to keep the network secure and you are rewarded with coins (100%). Just as it is with the government paying those who help regulate and print currency.
In the Steemit community the process is very much similar. In this case the miners are called witnesses. They are usually voted. And because the database structure is built differently, these witnesses only earn 10% of the total reward. Leaving a whooping 90% for others Steemians.
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I would have been more detailed but Just want to make this piece a quick guide
Much Credits @steemitfaq
Too brief!
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Yap.. I was trying to make the concept simplified as possible ... Thanks for the input .
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