steemit is built on the blockchain which enables steem to be mined in a similar fashion to bitcoin. only her 90% of steem is distributed to users, with the remaining 10% going to the miners.
If you want to understand the business model better I recommend reading the white paper.
https://steem.io/SteemWhitePaper.pdf
RE: I'm new to Steemit
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I'm new to Steemit
ok, thank you!
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