What is the History of Steemit

iceworld (45)in #steemit • 8 years ago

I have been curious about who made the Steemit, what is their visions and how they built it. So I search the Internet to get the answer. That's it the follows. Hope it is usefull for you too. :D

The Startup

Steemit is a New York-based startup co-founded by Ned Scott, CEO, and Daniel Larimer, CTO. It was started in January 2016.

Ned Scott and Daniel Larimer

Daniel Larimer is the founder of BitShares. Ned Scott learned of Dan about two and a half years ago.

But utill Ned made his first trip to meet Dan in January 2016, the ideas for Steem started forming and from there they put a real business plan together and co-founded Steemit.

Jan 2016: The Idea

Steemit is targeted to solve the problem in the context of social media that among the sometimes great content, there are also trolls, less than helpful comments and poor dialogue.

After exploring several different blockchain-based business models, Ned thought that the most useful and powerful thing to leverage around a cryptocurrency is a community.

And then Steem was born out of ideas about insurance and mutual aid: it was the idea that people would be able to help each other peer-to-peer if they were struggling to solve problems or needed assistance.

It quickly grew into a much larger vision and Steemit was born as a place where individuals get rewarded by a community for posting and voting on content.

March 2016: The Main-net

Dan’s expertise and Steemit developers’ combined experience of more than 12 years working on blockchain technology gave they the opportunity to leverage existing technologies from other open-source blockchains and combine those technologies with the code needed for Steem fairly quickly.

The Steem blockchain was an idea in January and main-net by end of March.

In March 24, Steem was launched and mining began on Mar 24 17:00:00 GMT.

April 2016: Alpha Testing

Steemit was in alpha testing throughout April.
At that time more than 150 early adopters help Steem “kick the tires”.

July 4th: First Major Reward Issuance

The Steem blockchain had been pre-coded to issue its first rewards on July 4th, which means it is currently tallying votes and posts, but it won’t reward the best contributions until July 4th.

After July 4th, the price of Steem shot up by more than 1400% by now.