B&W Photography and Art Contest Week #131: 14STEEM in Prizes in The World of XPILAR! - Post of submissions
Steemit is a blockchain-based platform for social networking and blogging. Users can receive the cryptocurrency STEEM in exchange for producing and curating content. The company is owned by Steemit Inc., a privately held corporation with offices in Virginia and New York City.
Contents
1 Operating principle
2 History
3 References
4 external links
operating theory
The Steem blockchain is the foundation of Steemit, a decentralized application (DApp) that uses the STEEM cryptocurrency to pay users for their content.
[4] Users can control the payment of postings by voting on them and on the comments that accompany them. Users receive so-called "Curation Rewards" for discovering and favoriting material that has already received similar treatment from other users. [5] [6]
History
The social media network Steemit was introduced as the first application built upon the Steem blockchain on July 4, 2016, by the business Steemit, Inc., which was formed by Ned Scott and blockchain developer Daniel Larimer.
Steemit disclosed their hacking on their website on July 14, 2016. About 260 accounts have reportedly been affected by the hack, they said. The attackers are said to have stolen STEEM and Steem Dollars valued about $85,000. [7]
Daniel Larimer resigned from his position as Steemit's chief technology officer in March 2017 and departed the organization.
[8]
Steemit encountered financial difficulties as a result of the 2018 cryptocurrency meltdown and had to fire 70% of its workforce.
References
STEEM BLOCK EXPLORER by Dale, Dale. Observer. March 15, 2019.
Usman Chohan (February 2018). The idea of Steemit and its criticisms. 8. SSRN 3129410, Economics of Networks Journal.
Steem's value has increased by 1,000% in just two weeks, according to Reuters. Guardian, 12 July 2016. 2019 January 16: retrieved
Dear Dale (September 15, 2016). The Observer published a story titled "Steem Aims to Beat Facebook by Paying Its Bloggers with Cryptocash" on January 16, 2019.
The McMillen family (October 4, 2017). The Social Network Dispensing Millions in Temporary Funds Wired. 2018 May 6: retrieved
"STEEM Whitepaper: A blockchain-based, rewarded platform for public content" (PDF). retrieved from Steem on March 12, 2019.
Catalin Cimpanu (July 18, 2016). Hackers stole user funds from the Steemit social network, and a DDoS attack followed. News at Softpedia. 2019 January 16: retrievede
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