Steemit and imusify share common concepts with regards to community rewards.
Steemit, the largest social network on the blockchain, has gained popularity over the last few years. Created in 2016, the STEEM-powered platform now boasts over 1 million users. Thought blockchain was just hype? In fact, Steemit is one example of how blockchain can foster community-focused incentives. Let’s explore Steemit’s fast adoption and its comparison with imusify when it comes to rewarding the community.
The birth of Steemit, pioneering blockchain blogging platform
The Founders of Steemit, Dan Larimer and Ned Scott, once imagined a new form of social network powered by blockchain technology that would encourage all users to participate and get paid. And their dream came true! Steemit was born soon after as a blogging platform compensating its users for content creation and curation. Today, the largest blockchain social network records over 250,000 unique daily visitors.
Steemit rewards content curators and creators with various incentives every time they blog, comment or share a post, receiving STEEM — Steemit's native cryptocurrency — into their wallets. Users get rewarded in STEEM as well as STEEM power. While STEEM is the utility token of Steemit, STEEM Power is pegged against the dollar and can be exchanged on most cryptocurrency exchanges platforms.
So, what kind of rewards do users receive on Steemit?
Rewards are proportionate to the number of votes. On Steemit, many blockchain and crypto influencers push quality content, in turn, they get rewarded.
Users are actively encouraged to vote as the reward mechanism is enticing. One vote equals one STEEM. The more everyone contributes and votes, the more they receive, note that the payouts are split between the curators.
Steemit vs imusify: why is the game still the same
Like Steemit, imusify’s mission is to actively reward everyone who contributes to the music community on imusify. Rewards are proportionate to users’ active participation. Whenever users vote for music, upload new songs, create and share music playlists, they are compensated in IMU tokens. IMU is imusify's native cryptocurrency. IMU Tokens can be used as a means of payment between users to exchange value.
Since Steemit and imusify are community-focused blockchain platforms with an endless reach of global users, rewards can be endless, too. Indeed, the incentives are proportional to the active participation of users. Who has never dreamed of being paid for listening to music or sharing new songs with others? Well, the game has changed. We expect imusify's global reach to be similar to that of Steemit, great rewards are on the way.
You can check out the benefits of holding IMU tokens here. In case you want to see how the imusify platform will look like, here's the link. Check out the working prototype.
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By: Angel Lebailly @angelbali | imusify
@imusify I love this concept, it would be like Napster built on the blockchain. I am definitely looking into this today! Awesome thanks for sharing.
Posted using Partiko Android
Thanks for the love.