Explaining the STEEM Blockchain | Smart Media Tokens | Steemit.com 2018
When I first heard about the Steem blockchain, and Steemit specifically, I had 2 immediate questions. What is Steemit? And how can they pay me for contributing content? Steemit is the first social media platform to be built on a blockchain. Users are rewarded with cryptocurrency for simply contributing and curating content. Contributors receive a reward in the form of financial compensation just for being an active member within the community.
What is the Steem Blockchain?
Behind Steemit, there lays the Steem blockchain. Think of Steem (the blockchain) as a large database that provides 2 things for applications like
Steemit.com
. First, it provides a cryptocurrency, which is known as STEEM. Think of Steem as an accounting ledger within the Steem blockchain (similar to Bitcoin). The second thing that the Steem blockchain provides is a content management system (CMS). The CMS does just as its name suggests, it makes sure the content goes into the blockchain in a specific and structured way. The CMS offers 3 core features to users; blog posts, comments, and account names. You are likely asking yourself what makes this different from every other social media platform?
How is Steem different?
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