What is Steemit?
Steemit is a social network and content rewards platform that rewards users using its own cryptocurrency, called STEEM.
As a user, you can earn digital tokens by posting or curating posts. Your earnings depend on the number of upvotes you get.
The main idea behind Steemit is that authors should get most of the rewards of their content instead of the platforms that publish the contents.
Currently, platforms such as Facebook and Youtube make a lot of money from other people’s content and share little or nothing to the authors. A decentralized social network can change this.
How to use it?
The easiest way to use Steemit is to go to the default website steemit.com. Here you can create a free account, publish new posts and upvote other users posts.
STEEM has its own blockchain that records all posts and votes. The blockchain is publicly accessible, you can see it as a distributed database. Because of this, other applications can be built on top of the STEEM blockchain. Developers can find more info on developers.steem.io.
Since SteemIt is still relatively young, most apps are still in an alpha or beta stage. But if the platform gets enough traction, it could deliver a lot of interesting new applications!
How it works
The STEEM blockchain uses a delegated proof of stake model to produce blocks. Instead of miners, STEEM uses witnesses to produce blocks. A witness only gets 10% of the new coins allocated to a new block. The 90% remaining coins go to content producers, curators, and STEEM Power holders. Witnesses produce a new block every 3 seconds. 21 witness nodes produce 21 blocks in each 63-second round.
To become an active witness, you need to get enough votes from STEEM users, voting can be done at the Steemit witness page. Hence the name delegated proof of stake.
How I use it
With this post, I’m trying to integrate my WordPress blog with my Steemit feed using a WordPress plugin. One thing I noticed so far is that the plugin also publishes draft posts, which is not so convenient when you want to save unfinished posts in WordPress without publishing them to the blockchain.