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Steemit - what is it and how to make money on it?

2 min reading

Steem is a unique platform based on blockchain technology. It uses the so-called a consensus algorithm known as Delegated Proof of Stake (DPS). A characteristic feature of this open source platform is paying active and appreciated users both for the content they produce and for interacting with users using the STEEM currency.


Steemit what is it?

First of all, it should be emphasized that Steem and Steemit are not the same. Steem is an open source blockchain platform where everyone has the option of adding their own service. Steemit, known as a popular social media medium, is just one of these services. So Steemit is nothing more than a privately owned company operating on the basis of the Steem platform.

Simply put, Steemit pays users with the aforementioned cryptocurrency if they create valuable content. Their quality is determined by other users who by voting for a specific publication allow the author to earn additional units of STEEM currency. Of course, that's not all there is to know about Steemit - we already know what it is, now the question is how to make money on it.

Earning on Steemit

Dilemma - Steemit how to make money on this platform is important to be settled. One way to earn money is to create high-quality content that will be conquered higher by other users. In addition, large fluctuations in the value of the STEEM cryptocurrency should be taken into account.

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