BLOCKCHAIN SOCIAL MEDIA (STEEMIT)
On the decentralized social media network Steemit, users are compensated for content creation and curation. It is based on the Steem blockchain, which pays users for their contributions with a cryptocurrency called Steem. While posting text, photos, and videos is possible on Steemit, it differs from other social media platforms in that users can get compensated for their contributions. The amount of votes a post gets from other users determines these rewards.
Among the first social media platforms built on a blockchain is Steemit, which debuted in 2016. It differs from other social media platforms thanks to a few essential features. First, the rewards system encourages users to produce high-quality content. Second, since all of the content on Steemit is decentralized and kept on the blockchain, it is impervious to manipulation and censorship. Third, users are the sole proprietors of their content and are not subject to deplatforming or content removal.
Steemit's community-driven governance model is another important aspect of the platform. A system for voting on proposals that impact the platform's future is integrated into Steemit. This guarantees that the platform stays community-focused and gives users a voice in how it is managed. The two-token system on Steemit is another distinctive feature. The platform offers a second token called Steem Dollars (SBD) in addition to Steem. Steem supports SBD, which is used to compensate users for their contributions.
Additionally, Steemit has a network of "curators" who are in charge of locating and highlighting high-quality content on the network. Curators are essential to the ecosystem and are rewarded with Steem for their efforts. Additionally, the platform uses a "delegated proof of stake" (DPoS) mechanism to verify transactions and secure the network. Users can choose who can create blocks on the blockchain by casting votes using DPoS, a kind of consensus algorithm.
To sum up, Steemit is an intriguing illustration of a decentralized social media network. It makes use of several cutting-edge features, such as DPoS, community governance, two-token systems, and rewards systems, to establish a platform that is genuinely owned and run by its users. Steemit is an intriguing substitute for conventional social media platforms that demonstrates the potential of blockchain technology in this field, despite its own set of difficulties and problems.
Great stuff you have written, really love the SBD aspect of steems and wish for favourable times when it will fully come back
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Steemit is the first social media based on blockchain. I love steemit so much. We can definitely use blockchain on social media. It will be desensitize and easy to use. Thanks.
Steem is not just for blogging but it is beyond it. It is perfect environment to develop any type of dapp. Your post is very good keep sharing.
Steemit is a fantastic platform. And it is the 1st online social media platform wich is based on Blockchain. Very beautiful article. Thank you so much for sharing with us.
Steemit is a fantastic platform and all you have discussed about this network is quite informative. I believe that the token is also undervalued and even in the coming years more people are going to be part of this platform which will enhance the user base as well as will be adding more value on the token economy.
Your article is very amazing . I hope you write articles like this in the future. thank you
Your content is very informationfull
Nicely shared.
Thank you