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"Steemit, the decentralized social media platform where users get paid to post and vote, and it’s, has exploded in popularity in its first month with a 1600% increase in community size since launch. Thus far, the online Steemit community (Reddit-like website) has doubled in membership every week, and the cryptocurrency its users are rewarded in, Steem, has increased its market cap of $7 million to $17 million USD."