What is steemit

steemit is a blogging and social networking website which is basically a good platform for publishers and those who like writing ' Steemit is a platform where people can share their private comments in a single post and from there they create stack blocken steam and steam dollars.

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steemit history

On July 4, 2013, Steemit Officially released a virtual currency called Steemit via Social Media, which was announced on 1 July 2013 by Steve Blockkain, shortly after, Steemit announced on their website that they were hacked. According to them, they later compromised with 260 accounts, attacks by raiders cost $ 85,000 worth of steam and a little less than stem.

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How does Steem work

User accounts can upvote posts and comments like social blog websites, like other blogging websites or raditts,Facebook,twitter etc
And from there the authors take up vote and of it can receive a monetary reward in a cryptocurrency token named Steem and US dollar,Steamit is available on third party applications such as D. Includes a decent video platform based on tubes, interplayality file systems (IPFS) and protocols. D.tube is similar to YouTube, but without ads, er uses built-in stem currency which is received by users upvoting videos instead.

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Monetary system

Steam is developed by Smart Media Token (SMT) protocol, developed by Steamit. In December, CoinMarketCap.com ranked Stimme 32st with a $ 475 million market capitalization listed 1,358 cryptocoors
Steem began with a highly inflationary supply model, doubling roughly every year.[5] However, due to community demand, on December 6, 2016 the inflation rate of Steem was changed to 9.5% per year, reducing by 0.5% per year.