Earning And Rewarding On Steemit – An Explanation Of Voting Power [STEEM POWER]
We love the Steemit platform here at BitcoinShirtz. We think the Steemit is truly revolutionary and we produce tons of content under @bitcoinshirtz.
So What is Steemit? And what is STEEM POWER?
Steemit.com is the world’s fastest growing decentralized social media platform. Steemit connects to a robust blockchain database called Steem. This blockchain database distributes rewards in cryptocurrency to the users who bring the best content (blogs, comments, videos etc.) to the Steemit site.
STEEM can be traded for Bitcoin or other crypto assets on almost all crypto exchanges.
STEEM can be bought, but also earned. Earn STEEM POWER or STEEM DOLLARS for producing blog type content on the platform. Earnings depend on the amount of upvotes or downvotes a post receives. The voting system of Reddit works in a similar way just without cryptocurrency.
The role of voting power or STEEM POWER sounds complicated, but it is quite simple. Users with STEEM POWER are invested in the platform and have vested their stake. In return users get voting power. Everyday the Steemit blockchain pays content creators. Those that are invested get to decide with their upvotes, who should get paid. Think of a board of directors voting on a proposition, each person votes with their unique percentage. Steemit rewards work in a similar way.
An Explainer Video On STEEM POWER Produced By @sethlinson
For a more full detailed explanation on STEEM POWER and the Steemit blockchain platform please explore the Steemit white paper. You can check out the PDF in the link below.
We Accept STEEM For Our Products!
Steem is one of the many cryptocurrencies that we accept for our shirts and hoodies.
Crank out some awesome content on Steemit and use some funds to buy crypto clothing! How cool is that?
Let’s build the crypto economy. It starts with you. And it starts with us.