Steemit explained

Steemit is a social media platform where people can blog and upload content, and get financially rewarded for it via A cryptocurrency Cold steem.

Members can up vote posts and comments so that the authors can be financially rewarded.

You as a voter can also be rewarded when you up vote a post’s which later turned out to be very popular.

The payment system “steem is a crypto currency which can be sold on trading sites for order currencies.
A fixed amount of Steem is produced everyday and makes up the rewards that are available for posts and voters