Steem is a crypto currency that is built on it own blockchain network, the steem is a blockchain platform built with dApp technology for other apps to be integrated on. Its going to serve as a power host to host other applications with a technology known as Smart Media Tokens (SMT's). Much like erc20 tokens for ethereum there will be many different tokens that will be built on the steem blockchain making it very large and extremely valuable. Whereby they will use the steem blockchain technology to build their own crypto currencies to run their own unique projects as a means to rewards their users.

While Steemit is a blogging platform for contents creators and bloggers to create valuable contents in various formats like (vlogging, blogging and photography e.t.c). And these content creators will be rewarded with a unique payments model know as steem dollar (SBD) and steem power for their efforts