Digital currency Steem shoots over 1000% in 2 weeks, value exceeded $ 150 million.

Social network paid for the 1st time people have posted on the site for 15 days.

The Steem, digital currency of the new site Steemit social media, shot more than 1000% on Tuesday (12) to more than US $ 150 million, two weeks after paying for the first time people have posted on the site, according to coinmarketcap.com.

The Steemit is basically a website that rewards or pay users who post content that receives multiple "affirmative" the site participants. The award is given in steem currency. The content on the site is not limited to digital currencies and users have made posts of different topics, from lasagna to on a trip to North Africa.

"It's basically a social media platform with incentive" said the president of Steemit, Ned Scott, in an interview.

The currency price steem on Tuesday was $ 1.75, equivalent to a market value of $ 151.8 million.

This is the value of 81.6 million of steems outstanding. On July 4, when the Steemit steems used first to pay users for their content, the figure was only 13 million dollars, according to Scott.

The Steem is the fifth largest digital currency in terms of market value. The coinmarketcap.com 657 monitors digital coins.

Users who make steem can exchange them for bitcoins within the platform. They can use bitcoins to pay for services or goods or keep them as an investment.