Excited blogger joins Steemit.com with the expectation of making money from writing about what they loves. Said blogger puts up a wonderful post worthy of mention by the local Historical Society, gets no upvotes, complains the system is rigged, leaving to grace some other site with hisher presence.
Perhaps you have noticed something such as that happening on here? Needless to say you might have. It is a daily event. Steemit is actually a blockchain-based social media platform modeled loosely on Reddit. Anybody who uses Reddit knows 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 this is because engagement and attention cause actual financial reward. Steemit rewards users for posting, commenting, and even just upvoting other content. Rewards are paid in the platform’s native cryptocurrency, STEEM.
For reasons unknown, we all feel that posting article is the most essential aspect of steemit.com. Certainly, without content creators, we would have absolutely nothing to upvote so it is crucial. However, at present there are over 20,000 daily authors so content is not our problem. Certainly, more is welcomed as well as your content should not be omitted. Steemit will get tens of thousands of content providers down the road that is wonderful. However, unless one comes here having a large following from FB or another site, content creation should not be your main focus.
Also, around I discuss upvoting being key, the reality is with low SP, your vote carries little weight. This is compounded through the fact most newer people push their voting power down to single digits so a 1 cent vote becomes worth almost nothing.
Steemit.com is just one platform for blogs and social media content that sits atop the Steem blockchain. There are many platforms that use the same blockchain and underlying economic mechanisms. An illustration of this this can be D.tube, a decentralized video platform based on the InterPlanetary File System protocol. D.tube is YouTube minus the advertisements (and user base) – instead, it uses the built-in Steem currency to reward content producers. D.sound is another example, in this instance for audio streaming.
The entire Steem method is built on secure blockchain software that runs using a network of computers. In the root in the platform will be 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 will make an impact?
The other day 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 an article from your comments. It is only focused upon content and also the keywords in this content. Therefore, I suggested that it is best for all of us to go out of as much comments while we can. This will help the ranks of read this which produces a snowball effect. The greater the ranking, the greater organic traffic received from search engines like google, further enhancing 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 website moved up 221 spots in roughly 6 days. Another month or two should begin to see the ranking closing in on the top 100. With 20,000 authors per day posting content, the dimensions of the site is increasing exponentially. Nevertheless, we still need commenting from each individual for your site to completely leverage all it may away from each post.
The Steem blockchain is consistently minting new STEEM tokens and adding them to a community “rewards pool.” The STEEM will then be awarded to users for his or her contributions, based on the votes their content receives. Create valuable content and get rewarded, and so the theory goes.
With every new block, 15% in the new STEEM units are awarded to those who hold Steem Power, 75% are handed off to content creators, and 10% of the new Steem units are paid to miners.
When you create content that really earns money, 50% pays to you in Steem Dollars that can be exchanged for actual money immediately. One other 50% is paid in Steem Power. The Steem Power Units are locked in the vesting period mentioned previously.
The saying “minting” may have made you think of cryptocurrency mining or wxedsr processes, like ones available on many other blockchains. STEEM is actually a mineable currency, but it’s not the main means of earning tokens.
Producing or interacting with content on Steemit is the main means for users to obtain STEEM. It is possible to, needless to say, also purchase Steem upon an exchange or earn interest (an extremely little bit) by holding SP. The Steemit platform continues to grow immensely since its inception. Here’s the way the traffic on Steem grew in the last year, according to Alexa’s web ranking: