14 June 2018 5:00 am
First, there was GeoCities, a rough web hosting service with flashy graphics and dated fonts. Then there was Myspace, which focused on meeting friends with blogs and music. Both were eventually dethroned by Facebook, which became the de facto social network for friends and family.
But now is the time for a new type of social network. A network with a system in place to reward users, while harnessing the potential of cryptocurrency. That network is called Steemit.
Does the name Dan Larimer ring a bell? If not, then it should.
Larimer graduated from Virginia Polytechnic Institute and State University in 2003. He was one of the first and only people to communicate with Satoshi Nakamoto, the infamous and anonymous creator of bitcoin.
He then went on to develop some of the most exciting blockchain-related platforms of our time. He first developed BitShares, a decentralized exchange, on Graphene Technology (a system capable of 100,000 transactions per second).
He then created Steemit, a hybrid social media blogging platform that allows the users on it to earn cryptocurrency directly from the content they contribute. Dan's Father, Stan Larimer known as "The Godfather of BitShares" posts often to Steemit. Follow him here: Steemit @Stan
Larimer’s latest project is EOS (the 5th highest ranked coin on coinmarketcap.com). It’s already proving to be as innovative and influential.
Steemit describes itself as “a living, breathing, and growing social economy - a community where users are rewarded for sharing their voice. Steemit social media is a decentralized platform where you can get paid for simply posting good content.
Indeed, Steemit is a social network but more closely resembles content aggregators in the same vein as Reddit and Digg. The focus isn’t on friends and family, but sharing and voting on content that other users may find useful, interesting, or otherwise entertaining.
The main differentiator - Steemit is built using Steem, a crypto token that can be awarded, earned, and spent on the Steemit economy.
Posts and comments are free, but users can also earn Steem from doing various actions:
Steem tokens are created to reward users and contributors to the system. Steemit is a new kind of “attention economy” with various users vying to gain more Steem tokens through posting quality content.
You are responsible for your own account. You lose it, you lose it forever! This is the best way to prevent companies from unfairly abusing your user account, or from anyone being able to hack your information.
Make sure to write down your account details and store the piece of paper somewhere safe. That is the only way to prevent unauthorized access to your personal information and your Steem funds.
An Economy Built on Fun and Fairness
Think of the countless social networks that have come and gone since Facebook. Many have tried to topple the king, only to leave with depleted user counts and flatlined user activity.
Not with Steemit.
Steemit is the first true competitor to Facebook. Instead of posting the usual meme or funny video, what if you actually got rewarded for your work? And what if that money could be spent to help others, or to buy products and services on the internet?
A big issue for parents and children is the amount of time spent on social media. Too many hours have been spent scrolling through feeds, liking pictures and videos without any reward.
To make matters worse, Facebook and similar social networks are taking user information, selling them to third-party companies for profit. It seems that safeguarding information online is impossible if you intend to have fun on social media.
Steemit is for the users. Your information is safe, your contributions rewarded. When you spend time on Steemit, you can be sure your time is well spent (and well earned).
Tired of low-effort posts? Or content that panders to the lowest common denominator?
What if you could vote with points, but not just imaginary points like Reddit karma, but points with true value and utility.
A user can post a funny meme or an in-depth article about the future of cryptocurrency. Only the latter will reap the rewards. Steemit is developing a new economy where quality is placed on a higher platform than popularity.
Steemit provides a way to reward our writers. If we forget to invest in articles and written content, we can easily fall victim to a media economy. While there’s not necessarily anything wrong with that, the written word will always be an important medium for communication and research. Steem will be the best way to pay writers and to earn a living as a writer.
Steemit is here, but it’s not done yet. The community is growing, and new content is added each day. Take a stroll on Steemit, you’ll find top content with users being rewarded in hundreds of dollars worth of Steem tokens.
What are you waiting for? Start posting and get paid for your content today!