Steemit and the aim of it

Steemit could be a social network that appears and functions lots like Reddit, however with one Brobdingnagian difference:

Steemit pays each the content creators once their work gets upvoted, yet because the people that reverend the simplest content on the location by upvoting others work.

this can be potential as a result of the Steemit platform is constructed on high of a replacement reasonably digital currency referred to as Steem. (Think Bitcoin, that is another reasonably digital currency that has been around for a jiffy.)

Every day, new units of the currency square measure created by the network and distributed to its users, World Health Organization will exchange these digital currency units for actual real cash. And it’s fully liberated to start.

however will Steemit work?

In some ways that, Steemit is comparable to different digital currencies. for instance, Steemit currency units may be listed, bought, and sold on the open market rather like all of the opposite digital currencies.

With different cryptocurrencies like Bitcoin, the particular currency units that square measure created on a daily basis square measure distributed to the people that run a special bitcoin code program on their computers that perform a method referred to as Bitcoin Mining. the quantity of computing power you've got dictates what proportion cash you get.