A blogging and social networking platform based on blockchain is called Steemit. For creating and curating content, users can earn the cryptocurrency STEEM. Steemit Inc., a privately held company with its headquarters in Virginia and a New York City location, owns the business.
As a decentralised application (DApp) built on the Steem blockchain, Steemit rewards users for their content with the coin's name, STEEM. Users can control the payment of postings by voting on them and on the comments that accompany them. Additionally, users are rewarded for finding and upvoting content that is later upvoted by other users.
On July 4, 2016, Steemit, Inc., a company founded by Ned Scott and blockchain developer Daniel Larimer, launched the social media platform Steemit as the 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.
The current price of steem is ;$0.1825.
.png)
steem block chain explorer.