The world is getting stormed by the Blockchain and its impacts day-by-day. In many ways, Blockchain is the new wave of technology right from its existence.
With introduction to Cryptocurrency, just few years ago, Blockchain and its measures had levitated every single industry. The digital world seems to be different now.
Cryptocurrency mining introduced DLT (Digital Ledger Technology)-based transactions including very-very popular one i.e. Bitcoin! By now, everyone is well-aware of what Bitcoin is and how cryptocurrency has left a drastic impact upon us through all these years.
This Blockchain-based cryptocurrency mining is a genesis of countless blockchain jobs that attract a number of experts to the IT companies.
Today, tech giants such as Apple, Google, Facebook, IBM, and several others are willing to set a monopoly in the industry by taking the full advantage of this advanced technology.
China is providing 70% of the cryptocurrency mining despite the fact that earlier, China had some woes with Cryptocurrency. Digital market is looking good with the blockchain jobs opened all over the globe.
One such blockchain-based platforms is SteemIt.
Steemit is a blockchain-based social media platform where anyone can earn rewards by posting relevant content, by curating quality content by upvoting, and by holding Steem-based currencies in a vest fund, which generates interest also.
Users not only create and curate content on Steemit but they can also monetize content and grow the community. The platform aims to support social media and online communities by rewarding much of its value to the people who provide valuable contributions.
On Steemit, people earn rewards in the form of cryptocurrency when their blogs get upvoted by other users, on the platform.
Steemit Community services:
- Free payments.
- A source of curated news and commentary.
- A stable cryptocurrency pegged to US dollar.
- Jobs based on the above-mentioned services.
- A means of getting high-quality answers to personalized questions.
Steemit consists of three main types of currencies and through them all the transaction and payments are done. They are as follows:
(1) Steem
It is a fundamental unit of the account holder in blockchain, which is received on participation by the user. Steem is liquid currency & can be bought in an exchange and converted into SBD or Steem Power. Now, you might be thinking that what is Steem Power & SBD?
Well here is your answer:
(2) Steem Power (SP)
Steem Power is basically Steem that is locked in a vesting fund for 3 months. Users can use Steem Power to upvote content and get curating rewards. The more Steem Power a voter has, the more revenue he’ll generate for himself (in form of SP) and for the content creator too.
(3) Steem Backed Dollars(SBD)
Steem Backed Dollars are there to protect content creators from volatility and can be traded for roughly 1 USD worth of Steem, in order to cash out from Steem. Converting SBD into Steem takes 5 days. Users also get benefitted with interest from holding SBD.
The payout reward for each post is at least 75% of the amount that goes to the author & at most 25% is distributed among the curators.
In such a way Steem proves to be a very transparent & systematic blockchain system for all of our users.
For more information, please contact us today at our website: https://steemexperts.com