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What is steemit

Steemit is a social news service platform, blog site and social network based on blockchain, known as Steem. This service generates Steem and Steem Dollars (SBD) to post, comment on interesting content and vote on the post. Both coins (Steems and SBDs) can be exchanged for a cool currency. So this steemit can be said as a social media whose function, such as:

1. platfrom news service
2. blog site
3. media to generate income (Steem and SBD).

Three Tokens in Steemit

1. Steam Token
   STEEM Token is a network-based token. It is traded on several cryptographic and market exchanges. Its market value determines the value of the reward set paid by Steem. Its value also supports the value of Steem Dollars.
   So this steam token can be traded with other crypto, like DGB, ETH, BTC and so on. These can be traded in Bittrex, Poloniex, Blocktrade and others.
2. Steem Power (SP)
   STEEM Power (SP) is a STEEM that has signed smart contracts. Steem Power is the most power of STEEM Power, the higher the voting effect on posts or comments.
   Users can choose the reward from STEEM Power 100%. And can choose default 50% - 50% (combination of STEEM and Steem Dollars) that is 50% STEEM Power and 50% SBD. Users can also withdraw Steem Power called Power Down.
   STEEM Power can not be transferred or traded directly, but the account owner can choose to withdraw it by way of a weekly down payment at a price up to 1/13 of STEEM Power total. However, after the power down account will lose the voting effect is proportional to the retractable STEEM.
3. Steem Dollar (SBD)
   Steem Dollar or Steem Based Dollar (abbreviation SBD) is an asset intended to be pegged against the US dollar. Steem Dollars can be traded on cryptocurrency exchanges, and are used for the payment of goods and services.

Conclusion:

Steemit is a blockchain-based platflorm media soisal and can function as a social news service, a social blogging website that gets rewarded in the form token of STEEM, STEEM POWER AND STEEM BASSED DOLLAR (SBD). Thus steemit is a great social media and this can be utilized to provide welfare to the community whose daily income or monthly less or not able to meet the needs of his life. So we as a user should be grateful and grateful to the founder of this platform. They have given something beneficial to the masses (the world community)

References :
Steemit
STEEM
STEEM Power

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