Steemit is unique in that it rides on top of a blockchain and allows bloggers to earn money (Steem Power and Steem Dollars) based on that blockchain. Steem tokens can be exchanged for US dollars, Bitcoin or other cryptocurrencies, or left to accumulate on Steemit to earn interest or to loan out.
A blockchain is a distributed ledger — pioneered by Bitcoin — upon which developers can build a variety of online services.
As I am still learning the ropes there, I’m going to let this video below do the explaining of how it all works. My username at Steemit.com is @wheatdogg (naturally). For now, I will probably cross-post my WordPress blogs there, but some content I write for each venue will be specific to that venue. In other words, you’ll have to follow me at both places.
Also published on Medium.