Steemit is a social networking and blogging site on the Stein blockchain database. Blockchain Steem generates STEEM and Steem Dollars that can be used by token users to get posts, find and comment on interesting content.

On July 4, 2016, Steemit, Inc. officially launched Steemit, a social media with virtual money prizes that run on the blockchain of Steem. On March 15, 2017 Dan resigned as chief technology officer and marketing team announced with Mitchel Loureiro (@zuvarnic) and @andrachy. Frank Rimalovski, Andrew Haines and William Mougayar (@wmougayar) are temporary advisory boards @cass, Jeffrey Paul (@sneak), James Calfee (@jamesc) and Valentine Zavgorodnev (@val-a) are some staff members. # New Social Media Platform Steemit Experiences Growth Since Launch - Steemit, the decentralized social media platform where users get paid to post and vote, has exploded in popularity in its first month with a 1600% increase in community size since launch. Thus far, the online Steemit community has doubled in membership every week, and the cryptocurrency its users are rewarded in, Steem, has increased its market cap of $7 million to $17 million USD.

CEO Ned Scott said he is blown away by how quickly the Steemit platform is changing the online experience. "We have worked so hard to perfect Steemit and give anyone an opportunity to make money by creating and curating good content. Based on reactions from experts and testing from our consumers, we knew that the reception would be strong, but Steemit is so much further along than where we thought it would be. In about a month, the market cap of Steem has increased two and a half times, page sessions have jumped by nearly six times, and the Steemit blockchain is now seeing twelve transfers, posts or votes every minute on average. These are phenomenal numbers and we are excited that our growing community is engaging in a fun and potentially lucrative social medium."

Steemit is powered by an open source blockchain called Steem, and its users are rewarded when they submit their blog posts or vote on articles, images and commentary that become popular. Users are paid half in "Steem Power," a token that supercharges voting power, and half with Steem Dollars, a token worth about one USD. Currently, there are over 100 posts valued at $2000 worth of Steem, and the top 20 posts have an average payout of a combined $8,500 for posters and voters.

"Due to the increased number of entrepreneurs building social media apps integrating with Steemit and the Steem blockchain, we are proud to announce that we are open-sourcing the code for the Steemit web wallet and social media interface. We are seeing incredible demand from early adopters and innovators bridging the technology to other social platforms such as Reddit, Twitter and WordPress. Having our technology freely available will empower entrepreneurs to extend upon the Steem blockchain and further revolutionize how social media can reward users and creators," Scott added.

Blogging In Steemit And Gain Advantages

Sosial Media Steemit. You love to write, already usually benefit from blogging? Maybe you need to try Steem. This steem has a social media platform called Steemit. With this Steem, we can also get reward steem coins that later can also be traded.

Steemit becomes a new way of blogging, because you will also get the sensation of how to blog with the feel of cryptocurrency based. It is said that, because the social media Steemit uses crypto-based technology.

Diversifying retail payments For its retail customers, Bellatorra has already begun accepting litecoin and ether, ethereum's native cryptocurrency.

Since BitPay doesn't facilitate merchant payments in anything other than bitcoin and bitcoin cash, Bellatorra had to establish relationships with other processors to enable these cryptocurrency payments.

According to Halsey, using PayWithEther.com and GoUrl.io, Bellatorra garnered dozens of litecoin and ether payments from predominantly Asian customers spending roughly $300 to $1,000 per order.

While bitcoin's transaction fees have come down significantly over the past several months, the thought of high fees has caused some merchants to hedge, according to Jimmy Song, a well-respected developer and partner at Blockchain Capital.

Yet it's not only a hedge but also a way to solicit more sales, Song said.

Cryptocurrency trading has seen huge amounts of adoption in Asian markets recently, with many industry observers asserting that if cryptocurrency businesses aren't targeting these markets, they'll be left behind.

And according to Bellatorra's Halsey, there's no reason for a merchant business to not turn on the option since it's so easy.

"I can tell other companies looking at the space that if you are used to taking a credit card for payment, this is every bit as simple if not simpler,"

What is Steemit?

Steemit is a decentralized social media platform. In it, Steemit rewards the users both for posting their writings, as well as to provide voting posts of others who are considered interesting. Posts can be either blog posts, or video content. This steemit, built using Blockchain-based technology. More precisely, using Blockchain Steem. This has become a new way in the social media world, especially its ability to blog and gain advantage in a system based on cryptocurrency.

Users can get two types of cryptocurrency. Ie Steem Power, and Steem Dollars. To get two crypto is also the same, just by posting, or giving a vote. In fact, no third party is required in it.

Steam coins are distributed through rewards given to pemposting, voters, Steem Power holders, market participants between Steem and Steem Dollars, as well as miners at a predetermined rate. So quite similar to Bitcoin, there is a reward given to the miner.

If previously we know enough about how to get cryptocurrency by mine or take advantage of price fluctuations, but in Steemit new users can get rewards. In Steemit, there are three types of tokens. The third token is Steem Dollar, Steem Power and also Steem itself.

Steem functions work almost the same as Bitcoin. Can be traded, or transferred. Steem Power is a version of Steem used by the owner to vote. And that is quite interesting, is with the Steem Dollars.

Steem This dollar is granted if the user has posted a content, or has given voting posts that are considered qualified. Basically, Steem coins are backed up with USD Dollars. Even today, Steem has also been cast in the Bittrex exchanges. Of course this certainly provides more benefits for users because more freely to trade.

Since Steemit's launch, its most popular topics include politics, technology and cryptocurrency, as well as "introduceyourself," news, art and comedy. Across the entire site, there has been a ten-fold increase in posts per day, as well as a ten-fold increase in votes per day. Due to popular demand, Steemit has integrated with a cryptocurrency exchange, BlockTrades, to allow users to purchase Steem Power with Bitcoin directly from their online account.

"The Steem blockchain will be rewarding all Steemit users for their contributions on July 4, distributing 10% of its total token supply," Scott said.

To sign up or learn more about Steemit, visit

http://www.steemit.com

Financial system

Blockchain steem has two tokens: STEEM and Steem Dollars. There are also enthusiasts who invest or store their tokens in a form known as Steem Power. Stealth Power is strictly used internally in the Steem community, whereas tokens are used for stored and traded values.

Steem initially wore the supply model with a very high inflation rate, doubling approximately every year. However, due to public demand, on December 6, 2016 inflation level Steem changed to 9.5% per year, down 0.5% per year.