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Steemit is based on a blockchain called Steem and two monetary tokens called STEEM and STEEM Power. Steem Dollars are an asset which is pledged to the US dollar. The value which is paid out to the content publishers is created through the trading of the currency on exchange platforms. When other users see your content as valuable they can upvote your content. The higher the status of this user is, the higher will your payout be.