Ethereum: What is steem and steemite?
As a cryptocurrency enthusiast, you may have pulled the name “steemit” while browsing the internet. You may be wondering what this platform is, especially if you are familiar with Reddit’s decentralized news network. In this article, we will delve into the world of steem and steemite, exploring their history, features and how they work.
What is steem?
Steem is a blockchain -based Social Media platform that uses blockchain technology to reward consumers for creating valuable content. The steem’s idea is similar to other decentralized platforms such as BitcoinTalk or Mastodon, allowing users to share knowledge and views without demanding centralized authorities. However, Steem takes on this Further concepts involving a unique turn: Community -Based Moderation.
Steemit Blockchain
The steemit blockchain is built at the top of the Ethereum Network using Ethereum Virtual Machine (EVM) for intellectual contracts. This allows steemit to operate in the existing decentralized program in the ecosystem and maintain control of its data storage and operations. The steem blockchain is also known for its high security features, including great attention to decentralized control.
What makes steem unique?
The value value with its community -Based Attitude, which gives consumers the opportunity to create and create content without the need for intermediaries or gates. This model allows everything to participate in the creation and division of steemit content, making it a platform for various voices and perspectives.
In contrast to other social media platforms such as medium or Linkedin, steem is more decentralized. Consumers can earn from their content through the steem power (SP) tokens. These chips can be used to create and share content, vote on records or even earn reward from the platform moderation system.
How does it work?
Here is a high -level “steemit” review:
1
2.
3.
- Awards : Consumers Earn A Steem Power Tokens for High Quality Content Creation and Curation, which can be used to vote for messages, participate in Community Debate, or Even Earn Reward from the Platform for a Moderate System.
Steemit vs. Reddit
While steem and reddit are decentralized platforms, there are main differences between them:
* Content Style : Steemit Focuses More on Longer -Form Content Such As Essays, Textbooks and Personal Stories.
* Community Engagement : Reddit is a more traditional social network that focuses on the moderation of the community.
* Signs Awards : Steem Power (SP) tokens provide more opportunities for consumers to earn a reward from the platform moderation system.
Conclusion
Steemite is an interesting new direction of decentralized content creation and curation. By giving consumers the power to create, share and engage in content, without intermediaries or gate owners, steemit gives people a unique opportunity for people to participate in discussions online and create communities around their passions.
Although steem is still a relatively new platform, it is clear that it can grow and accept. As more and more users are discovering the value of this decentralized social network, we can expect an increase in interest in steemit and other similar platforms such as BitcoinTalk and Mastodon.