Steemit#3 What Steemit Is
Steemit markets itself as a blockchain-based social media network and it’s built on pinnacle of steem, a entire, decentralized social crypto-economic system.
Steemit is built on the steem blockchain— that is similar to the bitcoin blockchain, however is cut loose it. Another name for blockchains is distributed ledger technology (dlt). Which means that it’s a allotted database — plenty of human beings maintain copies of it that talk to each other which will live up to date. Information are added to the blockchain in sequential order. Those facts, or blocks, as soon as added to the database, or chain, can't be modified. They're immutable — read-most effective.
Steem is peer-to-peer. There is no imperative manipulate. The builders, but, hold large impact over steem’s direction.
Steem is like bitcoin, ethereum and other cryptocurrencies, however is certainly plenty more.
While bitcoin miners earn block rewards by means of solving difficult math troubles — referred to as objective evidence of labor — steem rewards customers for subjective proof of work: the introduction and curation (upvoting and flagging) of content.
This is precise. And it opens up quite a few possibilities in order to earn cryptocurrency, maximum significantly thru content material introduction and curation.
Please Comment and Upvote: