Steem Blockchain & Steemit

Steem Blockchain-

It is an open-source public blockchain. 2016 is the year, Stem blockchain came into existence. The consensus algorithm is DPoS. Block time is 3 secs. Transaction throughput is 10000 tps. The Steem Blockchain has gone through 20 hardforks since 2016. The latest hardfork is HF20.

Steemit-

It is the first ever decentralized social media application on the top of Steem blockchain. There are many dapps evolving in Steem blockchain in recent time but Steemit is the flagship dapp of Steem ecosystem. So it is bascially a blogging platform. The bloggers get paid in the native currency called STEEM & SBD with a concept called proof-of-brain. There is a reward pool and the payout mechanism is inflationary with maximum rate of inflation as 9.5% and decreasing every year by 0.5%. At the moment, the inflation is roughly around 8% per annum.

There is a concept called influence which is directly proportional to STEEM POWER(SP). Steem Power is vesting of STEEM tokens which can be withdrawable through power down and in 13 equal installments. The more SP a user has, the more influence he has. The higher SP helps to develop followers base and also increased engagement in the blog page. The upvote worth is also more with higher SP. As the Steem Blockchain is based on Delegated proof of stake, SP holder plays a crucial role in voting for the witness and they can really play a part in the decentralization & democratic process of Steem blockchain.

Popular dapps apart from Steemit in Steem Ecosystem

• Steemhunt
• Dtube
• Actifit
• Fundition
• Minnowbooster
• Smartsteem
• Oracle-d

Sign up for a free Steem Account
https://signup.steemit.com/

If you want to know more about Steem onboarding process then visit the following link
https://steemonboarding.com/