SteemApp is an application for the decentralized Steemit social network, which is based on the idea of monetization of user-generated content. At its core, the platform resembles the Medium and Reddit sites, but Steemit is based on a blockchain platform of the same name with the DPoS consensus algorithm. The rapid generation of nodes (once every 3 seconds) allows users to receive income from posts by distributing the reward from the pool. Active members of the system, who post information, receive earnings in the form of cryptocurrencies for the publication. The better and more interesting the content, the more likes, and, consequently, the higher the monetary reward.
The application is available on iOS and Android platforms. The number of active users per day is about 5,000. The primary language of SteemApp and the platform itself is English, but users post in different languages, including Russian. To post content and get a reward, users must register online. This, in our opinion, is better done through the desktop version of Steemit, since the mobile application, after filling in the user information, sends a link to the user’s email and cannot automatically redirect to the site.
As claimed by the creators of the Steemit network, they check for fake users manually. Therefore, the whole process of free confirmation of identity can take 1 to 2 weeks. To speed up verification or hide their identity, users can pay a fee and “go ahead of the line.” Payment is made through third-party application wallets like Blocktrades, SteemWallet.app, AnonSteem, SteemConnect, Steem.Ninja, which also need to be downloaded to a smartphone.
All payment transactions in SteemApp, including remuneration transfers, are made in Steem tokens (STEEM). The coin is traded on well-known cryptocurrency exchanges (47th place in the general currency rating), and this allows for the exchange of STEEM for other digital assets and fiat money.
After verification, the full range of Steemit network services is provided to users. The application allows users to vote for the content of other users they like, comment, make reposts, and publish posts.
The process of posting on SteemApp is simple and does not differ from similar processes on Reddit or Facebook. Users need to enter the name of the article, add text, hashtags (no more than five) by which users can find the text, and select a picture.
SteemApp: Review Summary
As stated on the official website of the project, Steem has already paid over $40 million to its users for publications, and slightly less than a million accounts making about 1.5 million publications per month are registered on the Steemit social network. The project receives income from the sale of tokens and the commission that it takes for accelerated user registration.
In general, the SteemApp platform can become an analog of the legacy social networks, but a lengthy sign-up process of up to two weeks can discourage users from using the dApp. Such an application is suitable for crypto enthusiasts who want to use blockchain technology in everyday life, and to all those who want to become bloggers and get profit for it.