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
The Benefits of a List of ICOs The world of cryptocurrencies and blockchain technology, at first, can seem very strange. Many people have avoided getting involved in this industry because they don’t understand how it [...]
Coinbase, the biggest cryptocurrency exchange in the United States have recently opened an office in New York City. Instead of selling cryptocurrency to regular individual investors like it has been, the purpose of the New [...]
Coronation street first aired on British television in December 1960, and for the past 58 years has been one of the nations most popular television shows. It's the longest running soap opera on the planet, [...]