Type of site | Social media platform |
---|---|
URL | steemit |
Registration | Free |
Users | 1,238,717 registered users [1] |
Launched | March 24, 2016 |
Current status | Active |
Steemit is an American blockchain-based blogging and social media website. Users can gain a cryptocurrency, more specifically STEEM, for publishing and curating content (i.e. posts). Users can also be rewarded with STEEM based on their comments. The company is owned by Steemit Inc., a privately held company based in New York City and a headquarters in Virginia. HIVE is the official cryptocurrency on the successful fork of the main Steem blockchain in 2020. In addition, this fork has many of the features of the main Steem blockchain, as well as a series of original ones, such as badges.
Steemit is designed as a decentralized application (DApp) built upon the Steem blockchain, using the eponymous cryptocurrency STEEM to reward users for their content. [2] [3] [4] By voting on posts and comments, users get to decide the payout of those posts. Users also get "Curation Rewards" for finding and upvoting content that gets upvoted by other users afterwards. [5] [6]
On 4 July 2016, Steemit, Inc., a company founded by Ned Scott and blockchain developer Daniel Larimer, launched the social media platform Steemit as the first application built upon Steem blockchain. On 14 July 2016, Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. About US$85,000 worth of Steem Dollars and STEEM are reported to have been taken by the attackers. [7] In March 2017, Larimer stepped back as Steemit's chief technology officer and left the company. [8] With the STEEM price dropping during the 2018 cryptocurrency crash, Steemit faced financial difficulties and had to lay off 70% of its staff. [9] In 2020, Steem successfully forked and the HIVE blockchain was created in the process. [10]
Reddit is an American social news aggregation, content rating, and forum social network. Registered users submit content to the site such as links, text posts, images, and videos, which are then voted up or down by other members. Posts are organized by subject into user-created boards called "communities" or "subreddits". Submissions with more upvotes appear towards the top of their subreddit and, if they receive enough upvotes, ultimately on the site's front page. Reddit administrators moderate the communities. Moderation is also conducted by community-specific moderators, who are not Reddit employees. It is operated by Reddit Inc., based in San Francisco.
Hacker News (HN) is a social news website focusing on computer science and entrepreneurship. It is run by the investment fund and startup incubator Y Combinator. In general, content that can be submitted is defined as "anything that gratifies one's intellectual curiosity."
Bitcoin is the first decentralized cryptocurrency. Nodes in the peer-to-peer bitcoin network verify transactions through cryptography and record them in a public distributed ledger, called a blockchain, without central oversight. Consensus between nodes is achieved using a computationally intensive process based on proof of work, called mining, that requires increasing quantities of electricity and guarantees the security of the bitcoin blockchain.
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States in terms of trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam. In May 2020, Coinbase announced it would shut its San Francisco, California, headquarters and change operations to remote-first, part of a wave of several major tech companies closing headquarters in San Francisco in the wake of the COVID-19 pandemic.
Bitcoin is a cryptocurrency, a digital asset that uses cryptography to control its creation and management rather than relying on central authorities. Originally designed as a medium of exchange, Bitcoin is now primarily regarded as a store of value. The history of bitcoin started with its invention and implementation by Satoshi Nakamoto, who integrated many existing ideas from the cryptography community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant store of value both on- and offline. From the mid-2010s, some businesses began accepting bitcoin in addition to traditional currencies.
Ethereum is a decentralized blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software.
A blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Since each block contains information about the previous block, they effectively form a chain, with each additional block linking to the ones before it. Consequently, blockchain transactions are irreversible in that, once they are recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.
Monero is a cryptocurrency which uses a blockchain with privacy-enhancing technologies to obfuscate transactions to achieve anonymity and fungibility. Observers cannot decipher addresses trading Monero, transaction amounts, address balances, or transaction histories.
Ethereum Classic is a blockchain-based distributed computing platform that offers smart contract (scripting) functionality. It is open source and supports a modified version of Nakamoto consensus via transaction-based state transitions executed on a public Ethereum Virtual Machine (EVM).
Everipedia is a defunct blockchain-based online encyclopedia. Everipedia was founded in 2014 and was officially launched in 2015, as a fork of Wikipedia. Larry Sanger joined the company in 2017. In 2022, Everipedia was inactivated, becoming a static archive and redirecting to a new crypto-only encyclopedia, IQ.Wiki.
A cryptocurrency wallet is a device, physical medium, program or an online service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often offers the functionality of encrypting and/or signing information. Signing can for example result in executing a smart contract, a cryptocurrency transaction, identification, or legally signing a 'document'.
Bitcoin Gold (BTG) is a cryptocurrency. It is a hard fork of Bitcoin, the open source cryptocurrency. It is an open source, decentralized digital currency without a central bank or intermediary that can be sent from user to user on the peer-to-peer Bitcoin Gold network.
Gavin James Wood is an English computer scientist, a co-founder of Ethereum and creator of Polkadot and Kusama.
EOS.IO is a blockchain protocol based on the cryptocurrency EOS. The smart contract platform claims to eliminate transaction fees and also conduct millions of transactions per second. It was developed by the private company Block.one and launched in 2017. The platform was later released as open-source software.
In blockchain, a fork is defined variously as:
Cryptocurrency and crime describe notable examples of cybercrime related to theft of cryptocurrencies and some methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that have been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrency.
TRON is a decentralized, blockchain-based operating system with smart contract functionality, proof-of-stake principles as its consensus algorithm and a cryptocurrency native to the system, known as Tronix (TRX). It was established in March 2014 by Justin Sun and since 2017 has been overseen and supervised by the TRON Foundation, a non-profit organization in Singapore, established in the same year. It is open-source software.
MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. MetaMask is developed by ConsenSys Software Inc., a blockchain software company focusing on Ethereum-based tools and infrastructure.
LBRY is a blockchain-based file-sharing and payment network that powers decentralized platforms, primarily social networks and video platforms. LBRY's creators also created Odysee, an open-source video-sharing website that uses the network, which was split into a separate company on October 1, 2021. Video platforms built on LBRY, such as Odysee, have been described as decentralized, fringe alternatives to YouTube. Odysee lightly moderates content based on community guidelines; its web site delists videos containing pornography and the promotion of violence and terrorism, although delisted videos remain available on the platform's blockchain data store.
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