Steemit is a blogging and social networking website that uses its Steem blockchain-based rewards platform for publishers.[2] The Steem blockchain produces Steem and Steem Dollars which are tradable tokens obtained for posting, discovering, and commenting on content.[3]
Steemit, Inc. is a privately held company based in New York City and headquartered in Virginia. The company was founded by Ned Scott, and Dan Larimer, creator of BitShares, and EOS.A cryptocurrency (or crypto currency) is digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.Cryptocurrency is a kind of digital currency, virtual currency or alternative currency. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems.The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.A Steemian is the term used to describe a member of the Steemit website.
