Dear Steemian !!
Steemit is a social media that operates using blockchain technology. And the main role of the blockchain technology system itself is in the form of transparency, decentralization and has advantages in the form of the token cryptocurrency. Whereas if we look at social media like Facebook or others, they do not operate using blockhain technology, because the social media, is centralized alias it is run by the owner as the owner of the site and he also which regulates how the platform works. Meanwhile, this decentralized Steemit has no owner. So that all access such as private key, post key, or owner key, only we who know without any other people who know it. Even if we ourselves forget the three things above, then most likely hard to get back our account not like other social media that anytime forgot password can be then we also get it.
Furthermore, if we talk about how the rewards system in the steemit social media platform, then which you should know in advance is that this platform like a wallet site, which where the wallet serves as a place to store all the rewards generated by its users from every activity like posting, give vote, or commenting. However, many of us may wonder how the platform that runs on this blockchain technology can determine who will get rewards for every content he creates, while we know if this social media does not have an owner? The answer is based on the upvote quality provided by the readers. And the content we create can be anything, whether it be in the form of writing, video, visual sound, or other. Which later we will get rewards in the form of crypto tokens, namely Steem Dollar, Steem, and Steem Power. Well, the interesting thing in this platform is where both the two parties, whether it is creating content or who give vote, will get rewards. Fifty-fifty share of the results between the content creator and the person who do voting.
Then, maybe many of them beginners which just like me, will ask how Steemit can give rewards to writers, voters and miners? Apparently, the answer is according to some sources that I read, this social media platform works using the same concept as the Bitcoin system in general. Where Bitcoin works to pay the miners through subsidies generated from the creation of new Bitcoin which basically is not sourced from anywhere. Or just like as a company issues new shares to fund a project. Therefore, this platform also uses the same concept to pay for content created by a person and also to his supporters. In addition, because Steemit is a social media platform that runs on the Blockchain system, there are several features here that distinguish it from Bitcoin. One of its features is Steem Dollar which comes as a token that has a value equal to the dollar.
Lastly, another thing that makes Steemit technology unique is that it has the ability to deal with large and fast transactions. Not only that, Steemit also has a capacity that is so great can even be said if the this social media platform is superior to Reddit. Then, if Bitcoin implements the proof of work's alogrithm concept objectively, then Steemit applies the concept of a proof of work alogrithm that is subjective. And if in the concept of rewarding Bitcoin, the miners have to pay for electrical energy plus more hardware to mine Bitcoin. While here each content and content interaction that generates rewards for its users. Thus, indirectly in this case will generate a networking effect that will attract the attention of netizens around the world. Try to imagine any quality topics posted all the time on this platform, it will continue to pack the google search for the long term and certainly the value of this platform will increase again.
