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RE: Understanding Steemit : Know How Steemit Reward System Works and How Rewards Are Distributed!

in #tutorial4 years ago

Phenomenally detailed post, @ilyastarar! You put a lot of time and effort into this.

However, after reading this, I am realizing that they need to simplify and better explain the rewards payout system. Your post is amazing, but it shouldn't be this complicated! I can see how it would turn off new users. When a learning curve is steep, many people quit too soon.

All that being said, very impressive post. I have to give you a resteem on this one, because this must have taken you hours. I also will bookmark this post for future reference.

Thanks for writing this for all of us,
@ChrisMcCron

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Thank you for your encouraging words. It took more than 8 hours split between today and yesterday. Totally worth it.

About the complication, I think it cannot be simplified and it is so beautiful the way it is (except some loopholes which are being exploited). The fact is that Steemit is based on Steem blockchain and the underlying protocol is coded into it and is difficult to change without a hardfork.

Actually, the involvement and interdependence of multiple factors has created too much technical complication for average user to understand. One of them is having three currencies on the network. The most important of them, Steem Power, itself is not a currency but vested Steem. But it has the most effect on how Steem blockchain works and what users get from it.

The inherent complication is why I tried to explain everything in plain English and math.