Steem is a blockchain-based rewards platform for publishers to monetize content and grow community.
Steemit.com is one of the many websites (including Busy.org, DTube, and Utopian.io) that are powered by the Steem blockchain and STEEM cryptocurrency. All of these websites read and write content to the Steem blockchain, which stores the content in an immutable blockchain ledger, and rewards users for their contributions with digital tokens called STEEM.
Every day, the Steem blockchain mints new STEEM tokens and adds them to a community's "rewards pool". These tokens are then awarded to users for their contributions, based on the votes that their content receives. Users who hold more tokens in their account as "Steem Power" will get to decide where a larger portion of the rewards pool is distributed.
Steemit.com is built on Steem to show the world the future of the web. We built it to inspire new digital content business models and apps by entrepreneurs and developers.