Meet the Reddit-like social network that rewards bloggers in bitcoin

We are In the digital currency world,

People love to talk about the “killer app,” a use for the generation that could deliver it genuinely mainstream and compel the those who are dubious about Bitcoin to shop for in. Many are nevertheless waiting for it, and say bitcoin wishes it to prevail in the end. Ned Scott believes he’s were given it.

Scott is the co-founder and CEO of Steemit:

A social network that runs on a new cryptocurrency called steem. Scott, a former analyst at meals-industry non-public fairness firm Gellert Group, and Dan Larimer, founder of Bit Shares, launched the network and the Forex in April. Since that point, its market cap has ballooned from $2,000 to $300 million. The platform is very younger, and has its problems, however it suggests amazing ability.

Steemit works like Reddit:

Which Scott cites as an overt impact however says he hasn’t used. Steemit customers put up a weblog publish—it could be any duration, any topic at all—and different users can “upvote” it. The twist: Every upvote represents a small amount of steem power. Think of steem electricity as a representation of impact, because the greater you have, the greater power your upvote has to move a person else’s submit up while you upvote it. Steem power can be transformed to steem dollars, which in the interim trade for about $3.25 USD each.

Listen to the Ned Scott of Steemit interview

https://html5-player.libsyn.com/embed/episode/id/5284236/height/90/theme/custom/thumbnail/yes/direction/backward/render-playlist/no/custom-color/336699/

That’s tiny, positive, however extra steem is constructed from more hobby on Steemit, and the $300 million market cap of steem is enough to rank it No. Three amongst all cryptocurrencies, in keeping with Coin Market Cap, at the back of only bitcoin and ether, the foreign money of the Ethereum network.

Steem price prediction: What is steem?

FAQs
Is steem is good investment ?

It is hard to say. Although steem is a pretty long-running coin, there are newer cryptos which have eclipsed it in terms of its performance.

Will steemit go up down?

It is difficult to tell. While sites like Price Prediction. net are upbeat in their assessments, the likes of Gov Capital are far more cautious, not to say gloomy, in terms of how they think STEEM can do in the future. It is important to remember that price predictions often end up being wrong, and that prices can go down as well as up.

Should I invest in steem?

Steem exists on the borders of Web 2.0 and Web 3.0, so those particular sectors performances will have an impact on the coin’s future, not to mention the overall performance of the crypto market as a whole.