Steemit explained ► however will the reward system work?!

You get paid by collaborating within the steemit network. Participiating means that commenting, upvoting, new blogposts and additional. there's a cash system behind it and it's supported a pair of network token,which ar referred to as steem and steem $.

each of them ar supported a blockchain technology like Bitcoin is.
Steem is that the basic token,or in different words it's the monetary foundation of the steemit network. The second token, the Steem$ is made upon the Steem Token.

Unlike fashionable order currencys like US- $ or € the steem token will have a predefined inflation every year. In 2016 it had been nine,5% inflation and its reduced by zero,5% every year. seventy fifth of all new generated token come in the reward pool for everybody, V-J Day ar payed for holding steem power and 100% is that the rewarded for to the witnesses of the blockchain WHO have a similar operate as miners would wear bitcoin.

But to not build it any longer sophisticated. You get your share of the reward by interacting with different users.The amount of the reward differs on the quantity of influence AN account has. essentially its a degree system and also the additional steempower AN account has, the additional it will reward to different Accounts out of the steempool. To an explicit purpose it does not appear honest, however take into account that this is often a key component. you'll be able to build your high to extend your influence. Its nice chance for thought adoption also. Companys should purchase into having influence, which can facilitate the network to prosper and attract new Steemians.

I hope that types it out alittle bit. If you have got any question, simply post them within the comments section. i'll answer them