The internet world is stormed by the launch of a whole new beast- Bitcoin. Majority of the businesses invested owing to the success of Bitcoin. Soon after, there was a huge burst of new altcoins being introduced.
They were called second generation altcoins as it was a try to perfect the limitations found in Bitcoin cryptocurrency.
However, there is one thing that has remained constant in all cryptocurrencies is the fact that they all try to create a decentralized system of currency.
It is accomplished by eliminating the connections currencies have to the local and international banks. You would have often come across the term Steemit when looking for a blockchain marketing company.
Steem is one of the cryptocurrencies that we will discuss in this article.
What is Steem?
‘It is a fusion of drawing both social media and crypto world together with brilliant ideas to create an entirely new platform.’
Steem is a decentralized peer to peer cryptocurrency. It is called lifeblood of Steemit- the contagiously popular social media platform that rewards its users for posting content.
To elaborate, Steem represents a fusion of ideas that are drawn from both platforms- social media and cryptocurrencies to create a new kind of platform, hire Steem blockchain experts.
Anybody can create, share or upvote content on Steem network, allowing you to earn cryptocurrency tokens based on performance within the community.
Steemit- Blockchain and Social Media
Steemit- the main platform of Steem is a social media network built on top of Steem blockchain.
Like Reddit and Medium, Steemit is a content-driven social media platform. But, in Steemit the users are awarded cryptocurrency in form of Steem for their participation.
Also, Steemit is powered by Blockchain technology. Hire Steem blockchain experts to get a better understanding of how to invest in Steem.
If we talk about the past times, the content creators have had a little choice but to engage affiliate marketers and advertisers, utilize sales funnels and devise any devious tactic to get rewarded financially.
These monetization tactics have become increasingly competitive, leaving the content creators with decreased profit margins than ever.
Some of the organizations clearly disregard the idea of paying for content, instead, they prefer opting for another of the internet’s free publications.
There is no choice left for the writers’. The publishers have to work for advertising agencies and bow down to corporate interests to make a living.
Steemit’s co-founder coined a solution to the content calamity, which he first hinted at in 2015 as a “Mutual Aid Society” (MAS)- at its core, an “a social network of giving you can count on when you need it the most.”
How the process flows-
- Basically, the value a specific piece of content provide to a greater number of people, the more individuals are responsible for creating the content
- The users cast votes, create a hierarchy of content. If the content gets more upvotes, the more it will earn
- Also, the platform allows downvotes, which helps participants to know about the flexibility when it comes to rating content
- With Steemit platform, the users who hold more currency can cast votes with greater influence
What does the future bring?
Steem is working on mobile apps for iOS and Android. The developers behind Steem blockchain recognize that Steemit is one of the potential applications from the underlying software.
Getting in touch with blockchain marketing agency will help you enter the market well-prepared.
There are a number of online providers who are offering robust services in Blockchain Steemit at competitive prices. Find a trusted provider and get ready to enter the new market with the right tools and techniques.