Achievement # 6 What is steemit.

ASSALAM U ALAIKUM! How are you steemians I hope you are all good and happy.
The STEEM cryptocurrency is based totally on the social media and content material-centered Steem blockchain and is used to energy the Steemit social media platform by means of incentivising people to write content.

It is exceptional from different cryptocurrencies along with Bitcoin as it can not be mined. The best way customers can advantage STEEM is by using contributing to the Steemit network, and the cryptocurrency can only be used to strength the platform. however, once a person has earned their STEEM, they could change it for the fiat currency of their choice.

The social media platform Steemit is just like fb and Twitter. It encourages customers to percentage and post content material, and when this takes place, customers will benefit STEEM tokens. This approach permits the media platform to stay famous with its tech-savvy user base.

The benefits of STEEM cryptocurrency
extra strength
If Steemit users earn STEEM, they'll have more advantages over people who do no longer own any. The platform is decentralised, which means maximum choices are made via voting systems on the platform where customers with greater STEEM can have a more effect at the voting final results. voting on Steemit falls into two easy classes: upvoting and downvoting. when customers personal loads of STEEM, their upvote can be stronger, which means they preserve greater influence over the vote.

Anonymity
One motive why humans join the cryptocurrency space is the preference for privacy. Banks cannot provide full anonymity, however STEEM encrypts all information and user info to make sure that no one can find out the identification of an account proprietor. Even the nodes used in the STEEM community which are worried in confirming all transactions are most effective capable to check the balance of a user and no longer their non-public info. This privateness encourages users to interact with STEEM cryptocurrency and the platform at the back of it, Steemit.

Decentralized
Banks and conventional fee techniques are centralised, meaning they are owned and managed with the aid of a imperative employer. Having this centralisation way that 1/3-birthday party seizures can arise. If there may be money in a bank account, this can be targeted and frozen. however, if you put your investments right into a cryptocurrency together with STEEM, it is going to be completely hidden from 1/3 parties. because blockchain technology is decentralised, the only individual who can get admission to your funds is you.

Broadly accepted
STEEM cryptocurrency is likewise criminal and controlled in many major countries inclusive of the us and Austria. even as many nations feel strongly against crypto, the blockchain network continues to be legal, and those international locations are pursuing the law of STEEM and comparable cryptocurrencies. because the cryptocurrency is prison in those nations, it way customers can freely exchange their STEEM for the local fiat foreign money.

conclusion
The STEEM cryptocurrency can be won thru the Steemit platform. proprietors can then use this cryptocurrency to their gain. it could be used on the platform to make better choices or it is able to be used for instant charge transactions. either manner, this is a totally beneficial cryptocurrency that everyone have to have their eye on.
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