RE: Bye YouTube. Hello Steemit!

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Bye YouTube. Hello Steemit!

in introduceyourself •  7 years ago 

How is the platform funded? Who is in control of it?

introduceyourself
7 years ago by

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      ·  7 years ago 

    It's funded by Steem. Steem is produced by mining using delegated proof of stake. The Steemit network is run by the top 20 witnesses. Witnesses are elected by the users here: https://steemit.com/~witnesses

    Everything is explained in the whitepaper:
    https://steem.io/SteemWhitePaper.pdf

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