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Hello friends,
Welcome to my post which I have discussed Steemit. Steemit as we all know is one of the best social media platform in the whole world that pay users with cryptocurrency for their contributions to the platform. Let's get to know information about Steemit.
What is Steemit And How Does It Work
Steemit, is the first social media platform as long as blockchain is concern that was created (developed) on Steem blockchain to empowers content creators like you and me by rewarding us with cryptocurrencies. Steemit is a real application that rely on Steem blockchain, and it was launched on 4th July 2016 as the first DApp on the Steem blockchain.
Steemit provide users with source, revenue to earn by posting content and offers users with cryptocurrencies Rewards in return. On Steemit social media platform, users are rewarded with the following cryptocurrencies; STEEM Coin, Steem Power, and Tron.
STEEM coin is the native currency of Steem blockchain that is used to pay users for the content share on Steemit.
STEEM Dollar (SDB): Is the currency that is pledge to US. Dollar, which is used to buy liquid Steem for the purpose of trading or Power up.
Steem Power (SP): Is what give a user more power to vote on other user post and earn rewards. The higher your Steem power, the greater your influence.
| How Steemit Work? |
|---|
Steemit platform, work by allowing user to post their content. These users that post content have offer value to the Steemit platform as it attracts more new users to steemit while also maintaining the current users amused and interested. As users keep creating content on Steemit the distribution of the currency Steem will then continue to be share to numerous users on Steemit and as well increasing the impact of Steemit.
Users that take their time to read and curate other users post on Steemit help with the distribution of the coin to the users who have contributed to the platform. Also, on Steemit rewards are shared for both user (the author and the Curators). The author get 75% whereas, the Curator get 25% rewards known as curation Rewards. Post payouts are usually 7 days interval.
What Is STEEM Coin And How Does Steemit Make It's Money
STEEM Coin is a cryptocurrency just like Bitcoin Ethereum and other cryptocurrencies that can be trade for fiat Currency or exchange for other crypto. Steem coin is the native coin of Steem blockchain that is used to Rewards content creator on Steemit platform.
| How Steemit Make Its Money |
|---|
Steemit doesn't run any any promotional adverts for companies to generate revenue, instead it helps users to generate a revenue stream. Every blessed day, the Steem blockchain which is the foundation of Steemit mints new STEEM coins and adds them to a Community Rewards pool. These new STEEM coins that are mints are then rewarded to user for sharing their content on Steemit.
To this, as user keep on holding these coins as Steem power on their account will then decide where a large portion of the rewards pool is to be distributed to. The more people are buying, trading or holding Steem coin, it is the more the value of Steem coin will keep on increasing.
What Is The Current Price Of STEEM At Coinmarket. Explain Your Understanding Of what You know About This Current Price And The Situation Surrounding It.
Currently, as of the time of Writing this post, the current price of Steem at CoinMarketCap is at $0.211007 USD with a 24-hour trading volume of $32,655,367 USD. STEEM price went up 3.58% in the last 24 hours with a market ranking of #284, and a live market capitalization of $90,821,035 USD.
| What I Know About This Current Price And The Situation Surrounding It. |
|---|
What I know about their current price and the situation surrounding it is that buyers are buying STEEM coin mare and also Steemians are seriously powering up their account. It is Market force that influence the price of any cryptocurrency, which is exactly the situation surrounding Steem coin current price.
Is Steem Coin Good For investment? As A Crypto Analyst, What Can Be Done For STEEM Coin To Reach A Maximum Supply And Becomes Top 100 Crypto Currencies In The World.
Yes, Steem Coin is good for investment. Investing in Steem Coin will be a good decision that anyone can make. Steem Coin is backed by a strong project which I will advise everyone to invest on if the money is available. The potential return of investing in Steem coin is very large as one can be able to stake his or her Steem and end earn rewards and also one can power up his Steem coin and delegate for a better return of investment etc.
The thing that can be done for STEEM coin to reach a maximum supply and becomes top 100 cryptocurrencies in the world is to keep on creating awareness about Steemit platform, bringing more DApps in Steem blockchain, and promoting of Steem coin.
How Can We Do To Solidify STEEM Offering In Terms Of Technology And Operating System Inorder To Attract More Investor
The things that we can do to solidify STEEM Offering in Terms of Technology and operating system in order to attract more Investors is to create a system of DeFi to allow people to earn rewards from holding STEEM coin.
To create a business entity where people be able to buy goods and pay with their STEEM coin, to create a more friendly and enjoyable application.
I am inviting: @jueco, @inspiracion, and @jasminemary
Greeting dear friend,
You have explain the topic very well and have a good knowledge of steem and cryptocurrency.
In introduction section you told us about the steem and how it works and definitely it increases my knowledge about steem.
Then you told us about the earning system in steemit how we can earn money on steemit and revenue can be generated.
Through your post I have got a lot of information that how quality contents and engagement for the more earnings.
You explain the current rate of coin market so that we can know that trend.
You are right there is need of developing an application system so that more user can attract towards the steem investment and it can grow more well.
Overall you gave the strong knowledge of steem it future.
I wish you very good luck for the contest.
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Thank you friend for reading my post about Steemit. Steemit is a good place to be.
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Friend you explained good about the relevant topic but you don't go into more depth. Overall I like the information what you have provided to us. It's good to know about your point of view which you have shared that if we want to see very early STEEM coin in top 100 cryptocurrencies then we have to work hard for it and also we have to follow some of the rules as you have also discussed that we should spread awareness regarding this. Definitely the second name of awareness is promotion as you have also set that we should also promote the platform in anyway in which there is a possibility for us and we should also introduce many apps at the blockchain to make it very stronger.
It's also good to see that you use the coin market cap to show us the current situation of the STEEM. This is one of the most authentic site to check the current value of any currency. It's also good to see that you have shared the lowest price and the highest price of the steem in 24 hours.
At last I want to give you an advice no doubt that material that you have shared with us is good but you have to put more effort if you really want to win this challenge because I can see that your explanation is not proper in many questions you put a little effort so you have to put a lot of effort but whatever the situation is I want to wish you good luck.
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Thank you so much sir, for supporting me.
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Hi @anthony002
The "newcomer" tag is only for newcomers from 0 to 3 months. Please do not use it when you have exceeded this time. Thank you.
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Okay thank you ma, for I have take notice on this.
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Hello, you have explained everything that was being asked well but i think you should be more detailed in your explanation next time. your overall work is actually very good but i think you should increase the effort you put next time and go deeper into the questions.
Well done 👍🏼
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A well detailed article man, you wrote well. you wrote like a tech expert man, I love how you used the markdown in a very efficient and effective way. Thanks for sharing such lovely post man wishing you success.
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Thank you so much sir, for liking and supporting my post.
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Hii @anthony002
I encourge your efforts.Thanks for sharing a good content with us.Steemit is a unique platform that attracts the users due to the decentralization and security of the platform.
The reward system of the blockchain is also very impressive.My making some developments the platform can grow more and the prices of the Steem token will also increase.
Initiatives that steemit team has taken like the burning and powerup system of the Token will be very beneficial to increase the price of the token in the future.
Thanks for sharing.Good luck for the contest. I Invite you to visit my entry and engage on it.
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Yes sir you are 👍 right Steemit is a nice platform to be.
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