What is Steemit?
Steemit is a blockchain-based blogging and social media website, which rewards its users with the cryptocurrency STEEM for publishing and curating content, and is owned by Steemit Inc., a privately held company based in New York City and a headquarters in Virginia.
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History of Steemit!
The Startup
Steemit is a New York-based startup co-founded by Ned Scott, CEO, and Daniel Larimer, CTO, creator of BitShares. It was started in 4 july 2016.
The idea was described in a whitepaper released in March 2016.the ideas for Steem started forming and from there they put a real business plan together and co-founded Steemit.
The Idea Steemit is targeted to solve the problem in the context of social media that among the sometimes great content, there are also trolls, less than helpful comments and poor dialogue
The general concept is similar to other blogging websites or social news websites like Reddit, but the text content is saved in a blockchain. Using a blockchain enables rewarding comments and posts with secure tokens of value. Images can be uploaded and hosted on Steemit.
User accounts can upvote posts and comments, and the authors who get upvoted can receive a monetary reward in a cryptocurrency token named STEEM and US dollar-pegged tokens called Steem Dollars. People are also rewarded for curating popular content. Curating involves voting comments and post submissions. Vote strength and curation rewards are influenced by the amount of STEEM Power held by the voter.
it was the idea that people would be able to help each other peer-to-peer if they were struggling to solve problems or needed assistance.It quickly grew into a much larger vision and Steemit was born as a place where individuals get rewarded by a community for posting and voting on content.
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.
On March 15, 2017 Dan Larimer announced his resignation from the company.
The Steem blockchain was an idea in January and main-net by end of March.
In March 24, Steem was launched and mining began on Mar 24 17:00:00 GMT.
April 2016: Alpha Testing
Steemit was in alpha testing throughout April.
At that time more than 150 early adopters help Steem “kick the tires”.
July 4th: First Major Reward Issuance
The Steem blockchain had been pre-coded to issue its first rewards on July 4th, which means it is currently tallying votes and posts, but it won’t reward the best contributions until July 4th.
After July 4th, the price of Steem shot up by more than 1400% by now.
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.
I'm very Thankful to Mr. @cryptokraze to give a chance to show my information about Steemit
Thanks for visiting 😊
Regards, Muhammad Ameen
Good working
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