Steemit, what is it?

Steemit is an excellent example of what will become of the internet in the near future, so it is essential to become familiar with this new type of media. This is the first social media platform based on a blockchain and which pays you for your participation in the development of the platform.

At the moment, whether you like it or not, social networks use you to get rich massively. Thanks to the content that you create, but also and especially thanks to your personal data that are collected by these platforms and resold at high prices to companies of all kinds that will exploit them to do targeted marketing.

With Steemit, not only do you no longer need to share your personal data, but you are rewarded for the quality content you add to the platform.

Steemit, what is it?

Created by the visionary genius Dan Larimer in 2016, Steemit is a decentralized application that relies on a blockchain and therefore works autonomously. Steemit issues its own cryptocurrency (STEEM) which allows the exchange of value between the members of the network and to the outside through crypto exchanges. Steemit is an independent ecosystem whose goal is not only to transfer value (like bitcoin), but also to encourage network members to post quality content and interact with the community.

Steemit relies on its own blockchain, unlike applications built on Ethereum for example, and even has an innovative consensus mode, the Delegated Proof of Stake. This method of consensus, ie the set of rules that determines the order of adding transactions to the blockchain, is very innovative and solves many of the disadvantages of Proof of Work and Proof of Stake.

How does Steemit work?

Steemit works in the same way as its ancestors (facebook, twitter ...), members open accounts, create a profile, post content written / video / audio, can follow people who interest them and have their own followers. The big difference lies in the fact that each member can vote for the content posted by the other members and thus grant him remuneration. Indeed, as soon as one member votes for another, Steemit will create Steem and offer them to the member who posted the content. This member can either decide to exchange Steem against national currencies on a crypto exchange, or keep them on the platform and thus increase its influence.

It is important to note that the more Steem you have, the greater your influence on the network. In other words, the more Steem you have on your account, the more votes you give to Steem for the member you are voting for.

It is not uncommon to see bloggers get $ 500 for each article they post, but for that you have to acquire a large number of followers.

This concept is revolutionary in that it allows an immediate and decentralized redistribution of the value created by the network. It also allows a much faster network development since everyone is motivated to participate

Source:https://www.blockchains-expert.com/steemit-reseau-social/