UNDERSTANDING STEEMIT

in Steemit Nursery4 months ago

WHAT IS STEEMIT?

Steemit is a blockchain-based blogging and social media website.Which rewards its users with the cryptocurrency STEEM/TRON(TRX) for publishing and curating content.

WHEN WAS STEEMIT FOUND?

IT IS FOUND IN 2016

WHO MADE STEEMIT?

DANIEL LARIMER

HOW DOES STEEMIT WORK?

AS PER THE CREATIVITY OF YOUR POST THE PEOPLE WILL SEE YOUR POST. IF THEY LIKE IT THEY WILL UPVOTE IT.UPVOTING IS A PROCESS WHICH MAKES MONEY.MORE THE UPVOTES MORE THE MONEY.THE PEOPLE WITH HIGHET STEEMPOWER CAN GIVE YOU MORE MONEY.

HOW DO USERS DOES STEEMIT HAVE?

1,238,717 registered users

WHAT IS STEEMIT OPERATING PRINCIPLE?

Steemit is designed as a decentralized application (DApp) built upon the Steem blockchain, using the eponymous cryptocurrency STEEM to reward users for their content. By voting on posts and comments, users get to decide the payout of those posts. Users also get so called "Curation Rewards" for finding and upvoting content that gets upvoted by other users afterwards.

HISTORY OF STEEMIT?

On July 4, 2016, Steemit, Inc., a company founded by Ned Scott and blockchain developer Dan Larimer, launched the social media platform Steemit as first application built upon Steem blockchain.

On July 14, 2016, Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. About US$85,000 worth of Steem Dollars and STEEM are reported to have been taken by the attackers.

In March 2017, Daniel Larimer stepped back as Steemit's Chief technology officer and left the company.

With the STEEM price dropping during the 2018 cryptocurrency crash, Steemit faced financial difficulties and had to lay off 70% of its staff.

On January 22, 2019, Steemit announced structural changes in their leadership team. Former CEO Ned Scott was named Executive Chairman, Elizabeth Powell, the former Head of Communications & Advocacy was named the new Managing Director.

WHAT IS VALUE OF 1 TRX

AS OF NOW IT IS/ AS PER TODAYS CONVERSION RATE 1TRX= 0.141225 USD or 1TRX= 10.206

WHAT IS VALUE OF STEEM DOLLAR?

1 SBD= 521.037982INR
1SBD= 6.749079 US Dollar