STEEMIT

Hey all steemit users. I am Jannat. Now i want to writing about steemit. Steemit is a bloging and social networking website that uses it's steem block-chain based rewards platfrom for publishers. Steemit is a social media platfrom where everyone gets paid for creating and curating content.
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♣♣♣♣♣♣♣ What is steemit & how does it work??? Steemit comes from the blockchain mining, Which is done with the help of users when they do something on the steemit network. Just like bitcoin miners are rewarded for mining the bitcoins, Steemit users are rewarded for content curation and creation.Steemit has 3 currencies. It is steem, steem power & Steem Dollars. The steem system is build on secure blockchain software that run on computers. steem dollars are created as a loan on steem collateral and issused on contributers to the ccosystem as currency IMG_20180319_100541_924.jpg
STEEM :- Steem is similar to publicly similar to publicly traded company shares. The ammount of steem doubles each year, there is significent duilation for theose that hold steem however like many fast growing startups a rapid increase in value. May outplace the dilution. Just like company shares digital assets have value as more people use and vomtribute to the ecosystem. The estimated value of the total outstanding. Steem assets is currently about $20 million on coinmaketcap.com . STEEM POWER :- Steem power is similar to private restricted company shares and have disadvantages & advantages. One disadvantage is that holders can't sell steem power immediately hence they are illiquid.The advantages of steem power is that holders:- ♠May earn more steem and steem dollars as dividends offet any dilution. ♠ Have voting power to determine the value of each post STEEM DOLLAR:- Steem dollars are assets using steem /steem power as collateral. If the steem ecosystem is worth $20 million. The steem software can create one million in dollars as a loan on the network and issue it as currency for circulation.It's the same as if you owned Apple stock shares worth $500.000 and created on $25.000 loan on your shares and used that as money. You can use similar machaics with real estate. Infact commercial banks create money this way. Just think about home equity loans and then think about regular home loans and how bank use real estate as collateral to create fiat money. The blockchain software network executes the entire loan process and interet provisions for steem dollars and the inssuance and allocation of new steem/ steem power