Steemit is a blockchain-based blogging social media website platform where everyone gets paid to post online, has been released in beta, and is owned by Steemit Inc., a privately held company based in New York City and a headquarters in Virginia.
HISTORY OF STEEMITSteemit is a relatively company, founded by Ned Scott and blockchain developer Dan 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.
CONCEPTSteemit is powered by blockchain technology and uses a new cryptocurrency to reward users who share there articles, upload images, commentary, etc. 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 more is the reward. Users are paid half in 'Steem Power' (a vesting currency) and half in Steem Dollars, which can be exchanged for US Dollars.
Source:
WIKI and Steemit
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