Cryptocurrency Steem, the basis of a decentralized social network Steemit, which pays users for posts, has jumped in price by 1250% since the first payment was made. The total market capitalization Steem grew from $ 13 million to $ 260 million, ahead of Ripple and Litecoin and finishing third among cryptocurrency.
In addition, the number of transactions, positions and new users has tripled platform. Barely three months after the launch of the platform, blokcheyn, which is based Steemit, it processes hundreds of thousands of dollars per day.
Ned Scott (Ned Scott) Steemit CEO, explains:
"People are beginning to realize the enormous potential of the new social network. Steemit developers have created a portal where users are rewarded for their work as never before. Before the advent of Steemit, users give their time and effort for nothing, writing articles, sharing thoughts and images in the traditional social networks. Now, they get real rewards for their participation. With platform Steemit, the market formed around you "
He also added:
"After successful payment of July 4, people have seen that our platform really works. More and more users are logged in our system, and those who joined us at the very beginning, have already received a considerable profit. Some users have reported that they were even able to make the rent, the money earned on Steemit. Others bought cell phones, washing machines or pay utility bills. We have created possibly the very first blokcheyn application that is available to all without exception. Members which introduce new information and editing existing cryptocurrency being paid at the same time and have a good time "
