Steemit Puts Cryptocurrency

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Blogging is one of those “new industries” you keep hearing about from people who insist that technology change won’t cripple the economy as we know it, only make it different and possibly better.

There are plenty of bloggers out there today, and for Steemit, the company’s trying something a little new when it comes to getting bloggers paid: cryptocurrency.

The concept is a comparatively novel one; Steemit works a lot like Reddit, only with direct cash incentives. Users publish blog posts on a topic of choice, at whatever length they like, and publish, waiting for the readership to weigh in.

Upvotes give the writer Steem Power, a measure of how valuable the article is. Said Steem Power can then be redeemed for Steem Dollars, which currently trade at around $3.25 U.S per Steem Dollar.