Review on Steem by Fanuel PORPORTY
Steemit is an interesting project that wants to reward content creators for their fair value
Steem is a blogging site that allows content creators to monetize their creations. The functions offered are roughly similar to other platforms of the same type.
The main difference from its competitors is that people can vote for content that they find most interesting or that they simply liked. Depending on the votes received, the content creator may receive rewards.
The Steemit network creates STEEM coins every day and distributes them to its users, who can then exchange them for other cryptocurrencies or fiat money.
The functioning of the coin is different from that of the majority of crypto-assets, because it is created on a regular basis and is distributed to the people who contribute the most to the platform, whether it is by creating content or interacting with it. The number of coins you will get is proportional to the votes you will receive on your content, the votes you will give to other users and the comments you will leave on publications.
Steemit is trying to solve a problem encountered by most content creators: monetizing the work done. By rewarding quality content, Steemit encourages editors to publish the highest quality content possible and that appeals to a maximum of people, without the publications being written for the sole purpose of earning maximum money with types of publications sponsored.
To operate, Steemit uses a system based on 3 crypto-assets: STEEM, steem Power (SP) Steem Dollars (SBD)
STEEM is the project's default asset. It is a coin that you can buy and resell like most other cryptocurrencies on exchange sites. By keeping this coin for a long time, you will lose money due to constant inflation. You receive STEEM coins in proportion to the Steem Power tokens you have, up to 15% of the STEEM coins created by Steemit.
Pros
- Steemit works with a reward system for active users. It should therefore naturally increase popularity if the profits of users are attractive.
- Content creators will be encouraged to create content that appeals to users, rather than uninteresting content that will increase their profits with referral links, for example.
- The more active a user, the more they will be rewarded.
- The Steemit platform is intuitive and easy to use.
- Many people already use Steemit and its reputation in the world of cryptocurrencies is well established.
Cons
- STEEM parts are concentrated in the hands of a few users.
- It is difficult for new users to have influence.
- The 3 token system can be difficult to master for a beginner.
