Steemit is a blogging platform which comes with its own Smart Media Tokens (SMT) called STEEM. STEEM is a tradeable token which can easily be converted into Bitcoin or Ether. On the other hand, SMT is a native digital asset which is found on the Steem blockchain. SMTs can be launched by anyone when they want to monetize online content. This, in turn, creates incentives hence encouraging desired user behavior. Even though quite similar to Ethereum ERC-20 tokens, the SMTs have Proof-of-Brain properties and token distribution reward system. This makes it easy for the network to offer seamless digital content.
