Steemit, the social media platform where everyone gets paid to post online, has just rolled out it’s BETA. Led by CEO Ned Scott, formerly in private equity, and CTO Dan Larimer, the creator of Bitshares – Steemit today released a publicly available beta version of a social media content aggregator designed to reward content creators and curators with cryptocurrency.
CEO and Co-Founder Ned Scott said the reason he created this system was to build a community, incentivize them to contribute, and improve the quality of original content.
“Our vision is to not only build an empowered community but give content creators an avenue to make money online without needing to advertise,” said Scott.
“Steemit’s technology rewards users for posting, and the better it performs, the more that person earns. The system also rewards people for voting, and the more popular the content becomes, the more that person earns.”
Steemit, which is powered by Blockchain technology, uses forms of a new currency called Steem to reward users that upload articles, images, commentary and blogs, while rewarding users for sourcing and upvoting popular content. The earlier a person up-votes a post that becomes popular, the more they are rewarded. Users are paid half in “Steem Power,” a vesting currency that supercharges voting power, and half with Steem Dollars, which can be exchanged for USD.
Steemit’s peer-to-peer social economy, is open to anyone around the world. Users can earn Steem, use it as voting power, and exchange it for USD. The technology behind Steemit is open source and available to be viewed and expanded upon by others.
CTO Dan Larimer said:
“Steemit is a brand new way to recognize contributors online, especially those who join our community early and stay long term. New users will be given a portion of Steem when they sign up and those who initiate or improve the quality of discussions, through persuasiveness, clarity, grammar and formatting, will be upvoted faster and more appropriately rewarded.
“Steemit is easy and fun to use, and is the best opportunity for the regular consumer to earn and accumulate cryptocurrency,” added Larimer.
“The versatility of the Blockchain has allowed us to create an incentivized social media platform to exchange conversation, creativity, empowerment, and value. We want to promote dynamic, creative dialogue and debate with an opportunity to earn,” said Scott.
Steemit expects significant user growth from May until their first major reward issuance on July 4. Steem is currently trading at the US based crypto-exchange, Bittrex.com and at the Blockchain based ledger, Openledger.info. Steemit will also soon be available on mobile app.
- Blockchain Startup Exscudo Rolls Out EON Source Code On GitHub - May 24, 2017
- Blockchain Startup Binded Raises $950k in Seed Round to Democratize Copyright - May 24, 2017
- Waves launches Gatway for the Euro - May 23, 2017
- Netki & Bitt Production Release Underway with Caribbean Financial Institution - May 23, 2017
- Kibo Lotto Launched in Ethereum Test Network - May 23, 2017
- Deloitte’s Blockchain Team Unveils Prototypes, Research and Alliances at Consensus 2017 - May 23, 2017
- Swiss e-government startup Procivis releases integrated e-identity platform - May 23, 2017
- Blockchain Wallet Jaxx Announces Massive Expansion - May 22, 2017
- ShapeShift Launches First Trustless Asset Portfolio Platform - May 22, 2017
- Status.im and Bancor Protocol Cut Deal to Issue Tokens From Smartphones - May 22, 2017
- Future\Perfect Lab Launches Blockchain, IoT, Artificial Intelligence and Security Convergence Project - May 21, 2017
- Storj Labs Claims Number Two ICO Spot With $20 Million Raised in Less than Six Hours - May 19, 2017
- Starta ICO Announces Crowdsale for Eastern European VC Vehicle on Waves Platform - May 19, 2017
- SingularDTV Announces New 11 Application Ecosystem - May 19, 2017
- Storj Labs Launches Token Sale - May 19, 2017
- CORION Announces Full-Service Blockchain Platform to Build and Manage Any Business - May 19, 2017
- Luxembourg Blockchain Group Incorporates Infrachain a.s.b.l. - May 18, 2017
- Fintech Investment Group Launches With AI Forex Trading Platform And Compcoin Digital Tokens Ahead Of Initial Coin Offering - May 18, 2017
- IBM and Chile’s Santiago Exchange to Deliver World’s First Securities Lending Blockchain Solution - May 18, 2017
- Supercomputer Organized by Network Mining (SONM) announces ICO - May 18, 2017
- Digital Assess Wants to Use Blockchain Technology to Replace Paper Qualifications - May 18, 2017
- Aragon Smashes ICO Record Pulling in $25 million in 15 Minutes - May 18, 2017
- Bloq Launches BloqLabs to Bring Open Source Blockchain Technologies to Enterprise - May 17, 2017
- Wagerr (WGR) — Sports Betting on the Blockchain - May 17, 2017
- Avalon Life Puts Land Ownership on Blockchain, Launches GREEN EARTH ZERO Service with NEM Technology - May 17, 2017
- Swiss EY Team Joins Polybius Cryptobank as Advisors, ICO to Follow - May 17, 2017
- IOTA Announces $2 Million IOTA Ecosystem Fund - May 17, 2017
- Crypviser Blockchain-Based Encrypted Communication Platform Announces the ICO of CVCoin Tokens - May 17, 2017
- Blockchain App Puts An End To Medical Records Being Held To Ransom - May 17, 2017
- Report on Blockchain Start-up Marketing Maturity Shows Challenges and Opportunities Ahead - May 17, 2017
- BlockEx Partners With Winston & Strawn to Leverage Blockchain for Bond Issuance - May 17, 2017
- US Brokerage Petitions SEC to Get Moving on ICOs - May 17, 2017
- Silicon Valley’s Boost VC to Invest in ICOs - May 16, 2017
- Aragon Partners with Leading Digital Asset Exchange ShapeShift Ahead of Highly Anticipated Token Sale - May 16, 2017
- LuxTrust and Cambridge Blockchain Announce Privacy-Protecting Identity Platform - May 15, 2017
- Sphre Partners with Airbitz to Power Secure Blockchain-Based Identity Management - May 15, 2017
- Furtherfield Gallery – Blockchain Art Exhibition London - May 12, 2017
- P2pfisy: An Innovative, Cross-sectoral Perspective On The Ongoing Disintermediation Of Financial Systems. - May 12, 2017
- How Exscudo Helps You To Store Cryptocurrencies - May 12, 2017
- Blockchain-Fueled Waves Platform Integrated in Microsoft Azure - May 12, 2017
- Nick Gogerty Joins the Lykke Team as Chief Strategist - May 12, 2017
- Countr POS Partners with Coinify to bring Blockchain Payments to its Merchants - May 12, 2017
- Wall Street Fintech PR Agency, Wachsman PR, Chooses Dublin as European HQ - May 12, 2017
- London Crypofinancing Conference – The Future of Startup Finance – Initial Coin Offerings, Token Sales, Cryptocurrencies and Blockchain - May 12, 2017
- AST to Deliver Blockchain-based Proxy Voting Solution - May 10, 2017
- Cofound.it Launches Token Sale for Startup Platform - May 10, 2017
- Global Graphchain Project FERMAT Expands, Partners with Cicada - May 9, 2017
- Gideon Greenspan – Where Flexible Thinking is Preferable to Dogmatism – The Blockchain Immutability Myth - May 9, 2017
- Mathematician and Israeli Bitcoin Association Chairman Meni Rosenfeld Joins Bancor Advisory Board - May 7, 2017
- South Korea’s BOScoin announces ICO May 10th, 2017 - May 6, 2017