Ethereum: What is Steem and Steemit?
As a cryptocurrency enthusiast, you may have stumbled on the name “Steemit” while navigating online. You may be wondering what this platform is, especially if you are familiar with Reddit’s decentralized news network. In this article, we will deepen the world of Steem and Steemit, exploring their history, resources and how they work.
What is Steem?
Steem is a blockchain -based social media platform that uses blockchain technology to reward users by creating valuable content. The idea behind Steem is similar to other decentralized platforms, such as BitCoralk or Mastodon, which allow users to share knowledge and opinions without the need for centralized authorities. However, Steem takes this concept forward, incorporating a unique turnaround: community -oriented moderation.
Blockchain Steemit
Steemit’s blockchain is built on the Ethereum network, using the Ethereum virtual machine (EVM) to perform intelligent contracts. This allows Steemit to operate within the existing ecosystem of decentralized applications and maintain control over your own storage and data transactions. Blockchain Steem is also known for its high security resources, including a strong focus on decentralized governance.
What makes Steem unique?
Steem’s value proposition is in its community -oriented approach, which allows users to create and cure content without the need for intermediaries or gatekeepers. This model allows anyone to participate in the creation and sharing of content on Steemit, making it a platform for various voices and perspectives.
In contrast to other social media platforms, such as Medium or LinkedIn, Steem’s focus is more decentralized, with users capable of monetizing their content through Steem Power (SP) tokens. These tokens can be used to create and share content, vote for posts, or even get platform moderation system rewards.
How does it work?
Here is a high level overview of how Steemit operates:
1.
- Modegravation
: Moderators revise and approve content shipping before they are published on the platform.
- Content engagement : Users can fly or down posts to show their approval or disapproval of content.
- Rewards : Users get Power tokens Steem by creating and healing high quality content, which can be used to vote in posts, participate in community discussions, or even get rewards from the platform’s moderation system.
STEEMIT VS. Reddit
While Steem and Reddit are decentralized platforms, there are important differences between them:
* Content Style : Steemit focuses more on the longer format content, such as tests, tutorials and personal stories.
* Community engagement : Reddit is a more traditional social network, with a strong focus on community moderation.
* Token Rewards : Steem Power (SP) tokens offer more opportunities for users to gain rewards with the platform’s moderation system.
Conclusion
Steemit represents a new and exciting direction in the creation and curatorship of decentralized content. By giving users the power to create, share and engage with content without the need for intermediaries or gatekeepers, Steemit offers a unique opportunity for people to participate in on -line discussions and build communities around their passions.
Although Steem is still a relatively new platform, it is clear that it has potential for growth and adoption. As more users discover the value of this decentralized social network, we can expect a greater interest in Steemit and other similar platforms such as Bitcoinalk and Mastodon.