Steemit May Become Killer App As It Looks to Draw 1 Mln Bitcoin Users Yearly
The exponential rate at which Steem grows may put on fast track a solution to the scaling issue that the Bitcoin community faces. Steem is a digital currency behind Steemit, a decentralized social media platform which rewards posters and voters online. Scaling Bitcoin has become a hot button issue in the community. This is the process to increase block size from its current form in which the network can only support up to seven transactions per second to process more like Paypal achieves with about 100 transactions per second, and as Visa does with about 4,000 per second. In the wake of....
Related News
Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. A little less than US$ 85,000 worth of Steem Dollars and Steem are reported to have been taken by the attackers. In the security announcement CEO of Steemit Ned Scott said: “User accounts and wallets are not at risk, and we hope to soon reactivate the Steemit website to normal order. Any users whose accounts were compromised will be completely reimbursed.” Law enforcement informed. At the moment it appears that the virtual currency itself has not been compromised but....
The social media website Steemit that’s similar to Reddit has just announced it has distributed $1.3 million USD in the platform’s native cryptocurrency Steem. The website’s user base will have a lot more digital currency to earn just by posting original content on the decentralized platform. Steemit Users Rewarded. On July 5, the Steemit (steemit.com)....
Social media site Steemit, just a week after giving away $1.3 million USD to users after seeing huge success, has temporarily shut down after a major hack. Steemit Accounts, Wallets ‘Not at Risk’. In an official statement released today, CEO Ned Scott said that a maximum of $85,000 worth of the site’s currency, the Steemit dollar, “may have been stolen.”....
The first ever Bitfilm movie competition starts on Steemit today. The users of this decentralzied social network can vote for movies they like the most. Why on Steemit? Steemit is one of the first decentralized social network where you can earn money by posting good content online. Unlike Reddit or Facebook - that they also have a heavy censorship, this blockchain-related platform uses a currency, called “Steem” (its value is around $0.23 per unit) to fund authors of the best content. Users, in fact, can donate a tip to the authors and let them earn online. Steemit is similar to PaymeaBit,....
Blockchain-based social network, Steemit, recently hit 100K users within its first 5 months of operation. It has also acquired 500K monthly unique visitors from all over the world with its unique blogging platform that rewards contributors. Steemit growth similar to Reddit. Ever since Steemit launched in summer, 2016, it has gained a lot of popularity by its bloggers and curators while in beta with its goal to “redefine social media.” This is mostly due to Steemit’s popular system of rewarding people for voting and posting content on the platform with its own coin, Steem. Some are even....