What is DApp?
If you already involved in cryptocurrency community than I definitely can say that you know about Dapp may not ! No problem here I will explain about it in simple words.In the world of decentralizaton DApp is not a new thing. Dapp for Decentralized Application. In Decentralized network any body can interact with place and at any time. Decentralized network is controlled by servals people from different places. It is not necessity that person should at certain place. In Short words.
A Dapp an open source application that operates autonomously on a decentralized public Blockchain. It connot be controlled by the single entity or single person.
Now it can be believe that you might be able to understand what is Dapp .Today I,m going to talk to about Decentralized Social Media Network platform. It is famous name in social media network. I,m taking about STEEMIT. I will talk about it's features. How it different thing than others some one. How Much currency units are included in the steemit ecosystem. Can be use for Different perposes?? These all we be find together. Let Start Together!!
How it work!
Instead of a blogging platform, Steemit is part of a social network. You can vote and vote down, follow topics that you are involved in, upload content, and chat posts to others. This works quite like Reddit on its basic level.
First i will heed that how it work. STEEMIT with reputation system. All users that are registered atSTEEMIT platform their reputation start from 25. Than how Increase your work equally increase your reputation. Steemit that is a decentralized application (DApp) and built in the the Steem blockchain, It native cryptocurrency is by the name of the" STEEM " which is use to reward users for their content. Their are two types rewarding way to get reward. First Users called "Curation Rewards" Curation reward is which users that is find good content than upvote. Second that gets upvoted by other users for creating a new good content. Steemit is a well-know Name in the Crypto community. Basically it a social media Platform model where contributors and content Creator get together! Steemit growth is well in last months. It communities is big That make revenue for sharing content. Steemit pay it's content Creator and contributer .Shareholders like other social media platforms where content Creator made nothing for creating a new content.Here Steemit changed the entire game. Steemit pay it's well content Creator. Twitter or Facebook or other some platform where Creator get nothing for their struggle. But these platformers has made million dollars by these Bloggers.STEAM is a blockchain database in favor of building community and interacting with cryptocurrency rewards. Steam Lessons It connects its users with rewards as well as social media concepts.By building communities of crypto currencies. A system that reflects each partner's contribution as a accounting system. Cryptocurrency, both accurate and transparent, is a system that seeks to reap huge rewards.It is for those who contribute to its community. Steemit allows peoples for mining. Every day, new Steemit units that are created users. Steemit pay for comment(if any upvote) on the post!! That's are exciting things that made it unique than some of the others.
Steemit Currency Units
allows peoples for mining. Every day, new STEEMIT units that are created through users. Basically there are three different currency units that are include in steemit ecosystem STEEM, Steem Dollar and Steem Power. These different currency units perform different task . We take them by one by one below.
STEEM: STEEM which is considered The native currency unit of the Steem blockchain or can say it main currency unit .STEEM Coins are monthly increasing so STEEM erodes at a 9.5% rate yearly. It help to steem in higher. Like Others Coins that are able to transfer, exchange and can be trade so steem can be trade exchange and sell with big coins like BTC & ETH. Some Names of Exchanges allow you to trade steem Coins their plàtform. Some are below that allow you to trade your stéem conis in some other coins. HitBTC, Upbit, Bithumb and Bittrex.
STEEM Power is important currency unit of steemit ecosystem. It also help peoples to increase mining level . You might increase your social mining by increasing your stéem power.Here One thing more That total amount of STEEM that is created daily are allotment automatically given to the Steem Power that HODL-steem power 15% get steem power and while the rest of 85% of newly created coins distributed to steemit platform the content creators, upvoters, commenters and such more. We can say that steem power is just like governance currency where steem is rewarded for hold steem power.
STEEMIT DOLLAR: Steem Dollar By the you can expect from it's name it is like Dollar .it's price is tied by one Dollar .it is a stable coin in steemit ecosystem.which user post at steemit platform are rewarded with 50% By steem Dollar and rest 50% in the form of Steem power. You can also get up interest By just HolDing it. Theremore, you can sell it in different currency Exchanges.
Steemit Team !
Ned Scott - image source
So what does the Steemit Core team look like? Ned Scott and Dan Larimer were two of the key members of the Steam Core team. In 2014, he introduced the concept of STEAM and successfully launched the project in 2016. Dan Larimer is especially the name of one of the most important secrets. He is also known for co-founder and co-founder of EOS, as well as co-founder BitShares and EOS. Dan Larimer left steemit for focusing on the EOS project. After Dan Larimer start it's popularity. Many enthusiasts of steem decrease their interest due toDan Larimer .
Estimated user that daily base participate in the steemit ecosystem. About to mentioned below!!
- It is big platform for Different content Creators and a source of earning for long.
You can use it for social media marketing!!
If you are already know marketing through social media networks. Advertising on social media site is common thing. Steemit also has plan to add Your products list. Steemt is an influencers like other platforms where you promote your product when you are beginning to bussniss. In fact, You can use it like grip for connect to your customers.when connected as more people learn about Steem it will continue opening up to your business. The main goal of using social networking is to grow your audience.
We know, advertising and affiliate marketing are most reliable ways for product marketing.
Nevertheless, most of the people on the same social media sites still disregard the same ads and promotions. SteemIt uses a different monetization method to address this exact problem. The vision is that whoever "contributes" to the site must be valued and recompensed.