How does the Steemit site work?

Steemit is a social network site + e-business, which is Steem,

I think you knows just what a social networking site means. Continue on knowing about the electronic currency Steem (Steem)

The electronic currency is a virtual work, which means that it exists on the net only as the currency of creation. Steam can be delivered to anyone who has an account on the site and is converted to a configuration through exchange platforms like Colonex or can be purcahased by a local paper currency in manners that will be mentioned in subsequent listings.
There are approximately two hundred fifity stained-glass windows currently, and the price of one camping is around bucks 1. Every day, a certain number of individuals are distributed on the site in line with the volume of ballots, their strength and the effectiveness of their medical data. The cloak that is distributed daily is a new currency that is released from a block out of code (Blockchain). 1% of the total volume of twelve-monthly surveys will be given. This means that if there are two hundred fifity million CITES in 2017, 2. 5 million new CITES will be given in the same 12 months, distributed daily to the participants.
Explanation of the Portfolio of Steam
When ever anyone opens an bank account in the account, this individual or she automatically has his or her e-currency account linked to the account consisting of Steem, Steem Power, Steem Money.