What is Steemit and how does it work? Who created Steemit and when was it launched?

What is Steemit and how does it work?

Steemit is a blockchain-based social media platform where users can earn cryptocurrency for creating and curating content. It was launched in 2016 and is powered by the Steem blockchain.

On Steemit, users can create posts and earn rewards in the form of STEEM tokens, the native cryptocurrency of the platform. Rewards are distributed based on the votes and engagement that a post receives. Users can also earn rewards by curating content, which involves upvoting and commenting on posts that they find interesting or valuable.

The value of a user's rewards on Steemit is influenced by their reputation, which is determined by the quality and popularity of their content and engagement on the platform. Users with higher reputation scores have more influence and can earn higher rewards for their contributions.

In addition to creating and curating content, users on Steemit can also participate in various communities based on their interests. These communities, called "tribes," are separate from the main Steemit platform and allow users to connect with like-minded individuals and discover new content.

Overall, Steemit aims to provide a decentralized alternative to traditional social media platforms, where users have more control over their content and can earn rewards for their contributions.

Who created steemit? and when it was launched?

Steemit was created by a team of developers, including Ned Scott and Dan Larimer. Ned Scott is the founder of Steemit Inc., while Dan Larimer is a blockchain developer who also founded other blockchain-based platforms such as BitShares and EOS. The development of Steemit began in January 2016, and the platform was launched in March of the same year.