4 What are Steem Dapps?

Hi Everyone. Now that we’ve established what the Steem token is and how it operates, let’s get into the good stuff! What is Steemit and how can you get involved?

Steem is a cryptocurrency token based on the Steem Blockchain that is distributed through its own social media and decentralized apps. You might not know the meaning of all those terms, but don´t worry. We´ll get to that in another video.

Think of Facebook, Instagram or Youtube. Whenever a user posts content on any of these Apps, the social media company makes money out of ad revenue, data mining and profiling its user. The users themselves get no part of that profit. All the money goes to the centralized entity running the social media site.

Steem apps, due to the blockchain’s decentralized nature, allows its users to monetize their content. This means that anyone who posts content on any of the Dapps based on the Steem Blockchain, can monetize through community engagement and content creation. Now that we’ve discussed the different Steem applications as a platform – let’s dig a little deeper on how the monetization piece of things works.

Next video:

5 Where Does the Money Come From