Steemit is a blockchain-based social media and content-sharing platform. This platform relies on users creating, sharing, and evaluating each other's content. The unique feature of Steemit is that content creators and contributors can earn money from their activities on the platform.
Steemit utilizes a cryptocurrency called Steem to incentivize interaction among users. Users can earn Steem tokens based on the votes and contributions they receive while sharing content or engaging on the platform. These tokens can then be converted into real-world currency.
The fundamental operation of Steemit is based on a rating (voting) system where content creators or contributors are evaluated. Users can reward content they like by voting, thereby contributing to the earnings of content creators.
The goal of Steemit is to provide an alternative model to the centralized structure of traditional social media platforms. Users have more control over their content when sharing on the platform and are directly rewarded for their contributions.