HOW WORKS STEEMIT?
• Steemit is designed as a decentralized application (DApp) built upon the Steem blockchain, using the eponymous cryptocurrency STEEM to reward users for their content.
• By voting on posts and comments, users get to decide the payout of those posts.
• Users also get so called "Curation Rewards" for finding and upvoting content that gets upvoted by other users afterwards.
STEEMIT – HISTORY
• On July 4, 2016, Steemit, Inc., a company founded by Ned Scott and blockchain developer Dan Larimer, launched the social media platform Steemit as first application built upon Steem blockchain.
• On July 14, 2016, Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. About US$85,000 worth of Steem Dollars and STEEM are reported to have been taken by the attackers.
• In March 2017, Daniel Larimer stepped back as Steemit's Chief technology officer and left the company
.
• With the STEEM price dropping during the 2018 cryptocurrency crash, Steemit faced financial difficulties and had to lay off 70% of its staff.
• On January 22, 2019, Steemit announced structural changes in their leadership team. Former CEO Ned Scott was named Executive Chairman, Elizabeth Powell, the former Head of Communications & Advocacy was named the new Managing Director.
Plagiarised Content.
Source to Original Content: https://en.wikipedia.org/wiki/Steemit
cc: @cryptokannon
@endingplagiarism.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
As per the description of the STEEM POD Community:
I think your post doesn't qualify to be here in the POD Community. I am sure you'll understand this and not make any post here until on unless you are eligible enough to.
Thankyou for understanding.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit