In this video I go over a brief overview on the revolutionary new social media platform Steemit (https://steemit.com) which is built on top of a blockchain database and ecosystem known as Steem. The blatant censorship from the major social media platforms Facebook, YouTube, and Twitter has grown the need for a more transparent and censorship-resistant platform, which is exactly what Steemit is. The fact that Steemit is built on-top of a blockchain database allows it to manage its own reputation and value system, and thus ultimately translate that into a cryptocurrency much like Bitcoin, all autonomously and with public transparency. Steemit has created a brilliant system of rewarding users with cryptocurrency known as STEEM that be in the form of Steem Power (SP) for social media “influence” or as Steem Dollars (SBD) which can be viewed as investment holdings of STEEM in USD currency. The exact definitions and how this overall payment system works is still beyond my grasp since I am new to this whole Blockchain / Cryptocurrency concept, but I may look into doing more specific videos on these topics so #StayTuned! If you have some insights into these please let me know by commenting below!
While I don’t cover the inner workings of Steemit’s payment process, my overall experience being on the platform has been great, especially the ease in which creating and viewing trending blogposts, as well as connecting with the strong Steemit community. Also, I am truly amazed at the autonomous nature of the overall monetary value and reputation system which makes it a real possibility to earn revenue doing what many already do for free (and which companies make billions off of us) which is simply creating and curating content online. Steemit, as well as the entire decentralized and highly censorship-resistant Blockchain technology, is growing at a rapid pace so make sure to jump on this bandwagon now in order to have a huge head-start in influence and revenue, so make sure to #GetOnSteem!!!
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