When I first joined the Steem community, I did not understand the differences between Steem, Steemit.com, and Steemit, Inc.
So in an attempt to help new users not relive my mistakes, I wanted to share some simple definitions.
Steem
Steem is the most versatile of the three definitions.
It can reference the ...
- Steem Token (the most common use I have seen) - Steem tokens are tradeable and may be transferred anywhere at any time. They can also be converted to Steem Power in a process called powering up.
- Steem Blockchain (the hardest definition for most people to understand) - The Steem Blockchain is a ledger that records all of the transactions that take place. All transactions will be stored for as long as Witnesses (the network’s block producers and governance body) produce blocks.
- Steem Community (my favorite definition) - For me, the real value of Steem is the people that make up our community.
- Steem Projects (where I anticipate the most growth) - Steem projects are developed on the Steem Blockchain with the purpose of engaging Steem users. We are seeing an increase in the number of projects that are being developed, and I look forward to seeing future projects that are released by developers and supported by investors.
Steemit.com
Steemit.com is a front end application that lets users access the Steem blockchain. This particular application was created by Steemit, Inc.
There are many different front end applications that provide various features and cater to different groups of users. Again Steemit.com, the first and probably most well know front end application, is just one of the many.
Steemit, Inc.
Steemit, Inc. is a private company that is trying to make a profit (well, at least that is what most companies try to do). As a private company, they can make rules and enforce terms of use for their social media site (steemit.com). However, Steemit Inc. cannot change the information that has been stored on the Steem blockchain.
Hope this helps. Please let me know if you have any questions.
If you feel I shared any information that was not accurate, please let me know in the comments sections and I will update the post.
Thanks for stopping by!
@SumatraNate