Excited blogger joins Steemit.com with the expectation of earning money from writing about what he or she loves. Said blogger puts up a wonderful post worth mention by the regional Historical Society, gets no upvotes, complains the system is rigged, and leaves to grace various other site with hisher presence.
Maybe you have noticed something similar to that happening on here? Obviously you have. This is a daily event. Steemit is a blockchain-based social networking platform modeled loosely on Reddit. Anyone that uses Reddit recognizes that content lives and dies using the sacred upvote (or downvote). Upvotes bring “karma,” greater visibility, and also the risk of landing on the front page.
Similarly, Steemit users are vying for upvotes, but the reason being engagement and attention lead to actual financial reward. Steemit rewards users for posting, commenting, and even just upvoting other content. Rewards are paid within the platform’s native cryptocurrency, STEEM.
For reasons unknown, we all feel that posting article is an essential part of steemit.com. Certainly, without content creators, we may have absolutely nothing to upvote therefore it is crucial. However, at present you will find over 20,000 daily authors so content is not our problem. Certainly, more is welcomed as well as your content really should not be omitted. Steemit will almost certainly get thousands and thousands of content providers later on which is wonderful. However, unless one comes here using a large following from FB or another site, content creation must not be your primary focus.
Also, around I discuss upvoting being key, the truth is with low SP, your vote carries little weight. This can be compounded from the fact most newer people push their voting power as a result of single digits so also a 1 cent vote becomes worth almost nothing.
Steemit.com is simply one platform for blogs and social media content that sits atop the Steem blockchain. There are other platforms designed to use the same blockchain and underlying economic mechanisms. A good example of this can be D.tube, a decentralized video platform based on the InterPlanetary File System protocol. D.tube is YouTube without the advertisements (and user base) – instead, it uses the built in Steem currency to reward content producers. D.sound is yet another example, in this case for audio streaming.
The whole Steem product is built on secure blockchain software that operates on a network of computers. On the root of the platform is definitely the currency STEEM, which can be your typical transferrable, fungible, freely moveable token (comparable to bitcoin). The currency will come in 3 variants.
Alas, where is our newbit going to make an effect?
Yesterday I wrote a post about the need for commenting since it is applicable to Google rankings. My understanding is the fact that Google bot cannot separate a write-up from your comments. It really is only focused upon content and also the keywords because content. Therefore, I suggested that it must be best for people to depart as many comments as we can. This helps the ranks of tip and stuff which creates a snowball effect. The better the ranking, the more organic traffic received from the search engines, further improving the ranking.
Obviously, something is working. Last weekend Steemit.com hit 1, 000 in america in Alexa ranking. See it now:
That is certainly very impressive. This site moved up 221 spots in roughly 6 days. Another few months should view the ranking closing in on the top 100. With 20,000 authors each day posting content, how big the website is increasing exponentially. Nevertheless, we still need commenting from every person for the site to completely leverage all it may out of each post.
The Steem blockchain is consistently minting new STEEM tokens and adding those to a community “rewards pool.” The STEEM is then awarded to users for contributions, based on the votes that the content receives. Create valuable content and get rewarded, therefore the theory goes.
With every new block, 15% from the new STEEM units are awarded to individuals who hold Steem Power, 75% are handed away and off to content creators, and 10% in the new Steem units are paid to miners.
Whenever you create content which actually earns money, 50% pays to you personally in Steem Dollars which can be exchanged for actual money straight away. Another 50% is paid in Steem Power. The Steem Power Units are kept in the vesting period mentioned previously.
The saying “minting” could have made you consider cryptocurrency mining or wxedsr processes, like ones seen on many other blockchains. STEEM is a mineable currency, but it’s not the primary method of earning tokens.
Producing or getting together with content on Steemit will be the main means for users to have STEEM. You can, of course, also purchase Steem with an exchange or earn interest (a really little bit) by holding SP. The Steemit platform has grown immensely since its inception. Here’s just how the traffic on Steem grew within the last year, in accordance with Alexa’s web ranking: