Is steemit social networking blockchain?
Hi everybody
I am new to steemit and joined after hearing about it last week. At first i was not able to come to grasp with the manner in which reward system works here, since it is quite different from Bitcoin. Cryptocurrency are based on blockchain and is primarily used for securing the transactions using decentralised mining. However, steemit seems like a platform that is targeting a much larger audience and combines social networking as a means to trigger the transactions. Its also quite great to see rewards granted for good contents, unlike other platforms and "upvote" is analogous to "like". This has potential of converting the time an individual spends on internet in generating value for contents.
I don't know how are joining individuals authenticated on steemit (manual or automated). But if there is some kind of manner to reduce use of bots (i hope it is minimal here) by building a robust signing mechanism (using AI/ML) and increase the user base. Steemit is a unique combination of cryptocurrency and social media, one is emerging and other is a pro and governed by blockchain.
I hope it will grow in the future and at same time increase revenue for the mass. Happy Steemitting!!!
Yes sir, you are correct. It took me a while to understand exactly what steemit was about and what value it held, in competition with established and cleaner social network platforms like Facebook and Twitter.
The core things that I have learned is, as a beginner, stay as active as you can, try to make 40 upvotes a day, upvote and resteem the posts that you enjoy and also that you see other people upvoting so you can gain a lot of steem power. Convert all of your posts to 100% steempower until you've been on for a while. Work to create really good and interesting content so that you may obtain votes and followers. Stay on top of steemd.com/username so you can see how much voting power you have left. When you run out of voting power, let it regenerate, and then vote some more, so you can keep building steem.
Hope some of this advice helps.
Thanks for the heads up.
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STOPwhat is different blockchain with blocktrade? why is there a block name?
I don't know much about blocktrade, but cryptocurrencies work through building blocks by adding transactions from mining game. The block name is added to denote the blocks from distributed systems. Among the miners, who is able to mine and add to the block in mining auction, is rewarded with transaction fees (STEEM POWER here). Steemit using blockchain for transaction of "upvotes" and "stem" between members . Anyone, can add to it please do so.
Thanks