Steemit is structured as a decentralized application (DApp) based upon the Steem blockchain, utilizing digital money STEEM to compensate clients for their content. The authors post blog & get the chance to earn and all that depends upon voting by others. Those who upvotes are known as curators and there is "Curation Rewards" for finding and upvoting content.
Steem is the first blockchain which which introduced the "Proof of Brain" social consensus algorithm for token allocation.
Being a standout amongst the most effectively created blockchain extends as of now in presence, it's turned out to be fruitful soil for enterprising interests. It has additionally turned out to be home for some cryptographic money driven undertakings.
Steem plans to be the favored blockchain for dApp development with Smart Media Tokens at its center. With SMTs, everybody can leverage the power of Steem.
Note- SP is Steem Power which can be obtained by vesting steem tokens into a locked in contract, one can withdraw SP by powering it down and it can be available in 13 equal installment after initiating power down. SP is the influence power in Steem Community.
