Steemit is a relatively new social media platform where it users have the opportunity to get paid to post online. The platform was founded in early 2016 by Ned Scott and Daniel Larimer. Ned Scott earlier worked for Gellert Global Group, a family-owned private equity group which holds many North American food companies. Daniel Larimer is the founder of Bitshares, which has the 11th largest market capitalization amongst all cryptocurrencies.
Steemit is powered by blockchain technology and uses the cryptocurrency Steem to reward users who upload content whether it be articles, images or videos. The reward system is referred to as up-voting. Once the user makes a post, other users can give the post and up-vote which gives the person who made the post Steem.
Other ways users can get paid is through sourcing and up-voting popular content. The earlier a person up-votes a post that becomes popular, the greater the reward. Users are paid half in ‘Steem Power’ (a vesting currency) and half in Steem Dollars, which can be exchanged forUS Dollars.
Steemit is a viable option for the people that frequently post on Facebook that want to get more than likes and shares.