Mangaluru, Jun 17: In an age where most social media networks engage its users addictively without remuneration for the time spent, a one year old blockchain and cryptocurrency based social networking site rewards their users to use it. ‘Steemit.com’ encourages it’s users to use its platform and by way of upvotes monetize their writing in the form of Steemit’s own internet currencies; Steem and SBD. These cryptocurrencies are similar to the popular Bitcoin, often known as internet gold.
Just as how Facebook and Twitter attracts likes, shares and retweets which has restricted reach; Steemit has upvotes and that is accessible to all. The community upvotes each other and this rewards the author (user) for the posts they make. Apart from making this platform free for all to join and use, it also manages to reward every author for every post or comment that is upvoted. The site also has the concept of curation rewards to reward voters for curating good quality content. Moreover, all the articles are categorized under tags making it reader friendly.
In the dawn of this new age social media craze, a team of 15 young and zestful keyboard enthusiasts have come forward from Mangalore to be a part of Steemit following the initiative of pro-blogger Meghan Naik. The rainy Sunday morning of 11 June witnessed the Steemit meet by this group consisting of bikers, photographers and sportspersons as they pledged to start exercising their flair for writing and get paid for it as well.
A briefing on this matter conducted by one of the first Indians on Steemit platform, Meghan Naik, who organized and educated the gathering about Steemit.co. He explained how to use the platform, how the incentives work, tips to make the most of this new technology and use of cryptocurrencies such as Bitcoin in the Indian scenario were disseminated to the gathering.
“I came across this platform a year ago and invested my time, and effort in writing content, building a global community for Steemit, helping many users use of this new platform to their benefit. Unlike the other social media platforms such as Facebook, Instagram or Twitter which makes money off it’s users by way of advertising to them, Steemit rewards it’s users for their attention, effort and engaging on its platform”, Meghan said and added, “Your attention, effort and time is definitely worth a reward and Steemit makes it worthwhile to use it over any other social media platform. Even a dollar earned through participation on Steemit is worth more than zero earned when updating your status on Facebook.”
It is but a blogger’s dream to monetize their blogs at day one and Steemit helps them achieve this instantly with exception engagement with the target audience. As was written in one of Meghan’s blog (www.Steemit.com/@firepower), it is wise to spend more time on Steemit and engage more with users across the world. When you are an established author you could even consider sharing content on Steemit full-time as Meghan Naik currently does!
More technical information: Steemit.com is a platform which provides a unique solution to monetize content. It is a social network which empowers the community to award content it finds valuable. The awards are in the digital currency STEEM, and it’s proportionately allocated based upon weighted upvotes earned from the community. Contrasting Steemit against traditional social media platforms such as Facebook and Twitter, outstanding content will attract likes, reposts and attention on traditional social media platforms, but no monetary reward. However, on Steemit, every like (in the form of an upvote) is a vote to award some digital currency STEEM to the content creator – more upvotes equal a greater allocation of STEEM from the reward pool.
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If it catches on in India, it will become another Quora.
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