What is Steemit?

Steemit: Steemit is a social news service that runs a blog and social networking site on top of a blockchain database known as Steem. Users gain Steem tokens and Steem-dollars that can be produced and traded by the service by sharing, exploring and commenting on interesting content.
history
The project was founded in 2016 by Ned Scott and creator of BitShares, Dan Larimer. Steemit Inc., which runs both the Steemit website and the ongoing development of the platform, are the founders of the company. Larimer announced that he resigned from the company on March 15, 2017.
concept
This idea is described in detail in a white paper published in March 2016. Interested people can read from here.
The general concept is similar to other blog sites or social news sites like Reddit, Ekşi Sözlük; but the text content is saved as a block-by-block. Using block-chains allows you to reward comments and posts with secure tokens that are worth it. Photos can also be uploaded and stored on Steemit. Other multimedia content should be embedded on the site where the link is made. A WYSIWYG editor is used for formatting. Users can choose to use Markdown format with HTML elements.
Users can write texts and comments on a system called upvote, and well-rated writers can earn a monetary award with a cryptopaque token named STEEM and a token US dollar-denominated token called Steem-Dollar. People are also rewarded for discovering popular content. This is called curatorial. Curatorship includes comments and sentences. Voting power and reward elections are affected by the amount of STEEM Power regulated by the voters.