August 2, 2017
Steemit is powered by blockchain technology and uses a new cryptocurrency to reward users who upload articles, images, commentary, etc.
Other ways users can get paid is through sourcing and up-voting popular content. The earlier a person up-votes a post that becomes popular, the more is the reward.
What makes Steem different?
Collectively, user-generated content has created billions of dollars worth of value for the shareholders of social media companies, such as Reddit, Facebook, and Twitter. Steem supports social media and online communities by returning much of its value to the people who provide contributions by rewarding them with virtual currency.
Cryptocurrency tipping platforms require users to give something up to reward other for their contributions. With Steem, rewarding others is as simple as voting for a post, such you may on Reddit, or as you would Like a post on Facebook.
Steem is a form of esteem, which means to prize or value. Steem is also a homophone for steam, which is frequently associated with power, and a step further, steam powered trains gave influence to English idioms, such as ‘this conversation is picking up steam.’ The associations with prizing, language and empowerment only felt right.