Social network on the blockchain Steemit experiencing explosive growth
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Category: News
Published: 09 June 2016
Views: 2776
Audience blockchain platform Steemit that pays the participants for the publication, increased by 1600% during the first month of work. The market capitalization of its cryptocurrency Steem rose from 7 to 17 million dollars for the same time.
In the month since the launch of the platform, its audience has doubled every week, according to a press release. The approval of the Executive Director Steemit ned Scott, he did not expect such rapid development.
"We worked so hard to perfect Steemit and give anyone the opportunity to earn by creating and overseeing good content. Based on the opinions of experts and examining the product to the consumer, we understood that the reaction will be strong, but Steemit has gone so far forward compared to what we expected. Within about a month the market capitalization Steem has increased two and a half times, attendance has jumped almost sixfold, and the blockchain Steemit now registers an average of about twelve translations, publications, and votes per minute. This is a phenomenal figures, and we are pleased that our growing community is included in the fascinating and potentially lucrative social environment."
Seeing the popularity of the platform, the sponsors have opened the network code wallet Steemit. There is a growing demand from innovative developers who would like to bring technology Steemit to other social platforms such as Twitter, Reddit and Wordpress, said Scott.
On the website Steemit you can post and vote for others. Materials that is gaining a lot of votes get a reward. Participants at an early stage in favour of the publication became popular, and also receive a reward. Thus, it is argued in the white paper platform, "Steem is the first cryptocurrency that is committed to accurately and transparently to reward an unlimited number of people who make a subjective contribution to its community."
Participants Steemit publish articles on a variety of topics, primarily about politics, technology, bitcoin, art, Comedy and current news. Many also just write about yourself. The spread is really so great — there is, for example, philosophy, hemp, economy, health and Ethereum.
Voting or posting material, the participant receives remuneration in two parts: Power Steem (Steem power) increases the opportunities for voting, and Steem Dollars ($Steem) is a virtual currency unit which is approximately equal to one dollar, which already accept such cryptocurrency exchanges like Bittrex and OpenLedger. The reward will come approximately 24 hours after posting or voting.
To date, the most played record on the platform is estimated at nearly 15.5 thousand dollars. It was created by William Maguire, author of The Business of the Blockchain. More than a hundred other entries in Steemit leapt over 2 thousand dollars, and the top 20 records on average scored 8.5 thousand dollars of remuneration, distributed between the authors and active participants of voting.
The first interest payment is expected on 4 July, when, according to the organizers of the platform, will be spent 10% of the total Steem.