Steemit was founded by the creators of the altcoin BitShares. Like Bitshares, it too uses the proof of stake concept to mine the currency.
Steem is the currency behind the blockchain based social media platform Steemit which rewards users for creating and curating content on the site. Steemit users are rewarded with Steem Dollars and voting power which can then be transferred for the altcoin Steem.
Steem has seen steep price increases in 2017, and although still in Beta mode, Steemit’s user base is constantly increasing. Steemit, which is similar to the popular social media site Reddit, is a very exciting and entirely new concept in terms of social media content curation because it encourages engagement through financial rewards.
Recent cryptocurrency news
Consumers might one day be able to charge their purchases on their credit cards using bitcoin as a currency. On Tuesday, Mastercard won a patent to protect a method that would manage "fractional reserves of [...]
The Binance cryptocurrency exchange has now been live for 12 months. They launched almost exactly a year ago in July 2017 and it's been quite the year. They've become the global leaders in cryptocurrency exchanges [...]
BINANCE ANNOUNCE LATEST COIN BURN. Since their launch on 14th July 2017, Binance has grown into one of, if not the fastest ever growing company on earth. In an effort to make their coins more [...]
BlackRock often deemed the worlds largest 'shadow bank' has caused a surge in the cryptocurrency markets after a report in the Financial News London on Monday cited sources claiming the investment giants are looking into cryptocurrencies [...]