Steemit is a decentralized social network specifically developed using Steemit blockchain technology. The main feature of the site is rewarding active users with Bitcoin. The internal Steemit cryptocurrency — named Steem, which has a value currently much less than Bitcoin — can be earned through posting, voting, commenting, curating, etc., and by just staying active on the site. New users don’t get a lot from voting, so they have to work to gain their steem power by providing unique and useful posts. With every creation, the value of their vote becomes greater. In addition, the platform offers Steemit mining on CPU, just like any other cryptocoin. Currently, there is also a Steemit app available for both iOS and Android.
During Virtual Blockchain Week, Justin Sun recounted his version of the events surrounding Hive’s controversial fork away from Steem.
Justin Sun Recounts Steem-Hive Hard Fork at Virtual Blockchain Week
One week after Justin Sun’s hostile takeover of Steem, Huobi launched trading for the community hard fork Sun sought to suppress.
To Justin Sun’s Chagrin, Huobi Listing Spikes Hive's Price by 600%
Major Steem stakeholder Dan Hensley accuses TRON founder Justin Sun of attempting to bribe him with “money, power and users.”
Justin Sun Accused of Bribing His Way to the Top of the Steem Hierarchy
The ex-Steem community continues to battle Justin Sun with the Hive hard fork — stakeholders seemingly migrating to the new network.
Hive Continues Independence Push as Steem Stakeholders Migrate to New Chain
After forking off the Steem blockchain on March 20, Hive is now trading at a 20% premium over Steem.
Hive Trades for 20% Premium Over Steem on Bittrex Crypto Exchange
The Steem community continues its fight in one of the biggest crypto dramas of 2020 — rolls out Hive as an alternative.
Steem Community Resists Takeover, Hard Fork Launches Hive Network
Justin Sun’s Steemit has been accused of censoring content about the upcoming Hive hard fork.
Justin Sun’s Steemit Accused of Censoring Hive Related Content