Steemit is a new platform that is designed much like the Reddit platform. The site uses the same style of feed and generates comments from subscribed users that will initiate conversations and attention of content to the related topic. Topics are separated into different chains. If you have used Reddit before, you will immediately be familiar with the page structure and format.

The most prominent feature that makes Steemit different is the fact that the site will reward contributors for creating relevant content. Steemit will pay those that comment in cryptocurrency which is a novel idea.

Steemit was founded by Daniel Larimer and Ned Scott. Ned Scott was a financial analyst, and Daniel Larimer was the brain behind Bit Shares. Steemit took a few months to gain momentum really. This was because the unique platform was the subject of scrutiny and most were taking the stance of watching and waiting to see exactly what would happen once it was available to the public.

Another factor that had slowed public reaction was the fact that the team of developers behind the site wanted to make sure that the social media platform was running smoothly. Many of the original contributors did not heavily promote the new site because everyone was waiting to see how all of the parts of the site were going to work including the pay feature.

Now that the kinks have been worked out with the platform the new site has taken off, and its cryptocurrency has its own unique way of working fairly for both the company and the site’s users. The way the cryptocurrency works is that the user invests given Steem which is then converted to the equivalent of one dollar in the future. There is a conversation waiting period that will prevent individuals from taking advantage fo the conversion rate difference so that the currency has a standard value.

The new site is called a blockchain and was created using cutting edge technology that allowed the concept to come to life in a few short months. Now that the testing phase is pretty much over individuals are making real money by contributing to the site.

Word has spread and now more and more adventurous, and curious contributors are joining the site in hopes of making some extra money with their contributions. The good news for contributors is the fact that Steem dollars accumulate interest which is an attractive idea for those that are looking to make money through alternative methods.

People that post on the site are awarded Steem for blog entries that others like. The amount of Steem dollars that are awarded varies by reputation and amount of likes. Naturally, those with a higher reputation score have more voting power and will be granted more money. Steem dollars are like a long-term investment mixed with a social media platform which is both unique and intriguing. As for now, the platform has seen its membership numbers rise dramatically. Hopefully, that trend will continue.People are passing down the buzz by word of mouth mostly but expect to see some sort of commercial advertisements in the future.

Because of the original nature of this venture, the company stands to make huge profits if things continue to look up. In just the last few weeks the amount of cryptocurrency has increased dramatically due to the increase in activity and investment. Most of the current members are those individuals that are committed to earning extra money through the use of social media such as freelance marketers and bloggers.

Many are wondering if this is the new wave of investing while also communicating with a broad audience that will serve to help individuals market products and services as well as reaching audiences in the way that Reddit is famous for but with a whole host of added benefits and features that the market has never seen before.

It is worth a visit to the site to get a good idea of how the site operates as well as to gather information and to answer any questions you may have. You may find yourself intrigued and considering the possibility of contributing to the site and earning a bit of extra money in the process.