•Steemit• WHAT IS?

• textIf you paid for each content that users create on the Internet, either as essays, descriptions, reviews or artwork, who would not rewarded the amount of hours spent on the network? This new social network based on technology promises Blockchain get.

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Steemit, a new social platform where anyone can be rewarded for their online publications, has been launched in its beta state. At the time of multiple social networking platforms, where many users are entrenched players, what will be the reaction of the public to Steemit?

Behind Steemit

Steemit is a relatively new company, founded in early 2016 by Ned Scott and Daniel Larimer.

Ned Scott previously worked for Gellert Global Group, who maintains many food companies in the United States. Larimer Daniel is the founder of Bitshares, who has the eleventh market capitalization among all criptomonedas.

The concept

Steemit-Logo-300x150Steemit works through Blockchain technology and uses a new cryptocurrency to reward users who upload articles, images, comments, etc.

Another way users can receive money is through the creation and content popular vote. The earlier a person vote for a content that scope popularity, the greater the reward. Users will be rewarded through Steem Power (coin investment) and Steem Dollars. The latter may be exchanged for US dollars.

How can you prevent creating multiple accounts?

One of the disadvantages of this type of rewards for users who are the people might try to beat the system to create multiple accounts. These accounts can be used to publish and vote several times in order to manipulate the popularity of publications. Steemit tries this irregularity by requiring users to register through their Facebook accounts.

The concept is not new

The concept of giving reward such users is not new. In early 2014, Bubblews and Bonzo I came up with a similar idea: users pay for content generation. These sites used Paypal for payment. Bubblesw closed in November 2015.

Taringa also rewards its users with Bitcoin for sharing and publishing content. However, this has failed to migrate users of Facebook and other social networks. It remains to be seen how successful it will be Steemit attracting users.