Many people, unfortunately, think that steemit and steem is the same (maybe because they sound alike? ) however there is a big difference between the two which I will explore on this post and hopefully most of steemit new members and some older members will better understand and appreciate the difference: Moreover, you should note that steem is more valuable than steemit, here are some few points:
**Superior Blockchain **: the technology that power all in the steem ecosystem including apps is steem blockchain-which processes transactions faster than bitcoin and ethereum combined and thus superior than their technologies in terms of user experience and processing faster transactions (see diagram below).
Cryptocurrency Vs Social Media platform: Steem is the cryptocurrency that powers steem blockchain ( note that investors are the backbone of the successes we are enjoying here especially those that buys steem and power up )and thus superior and separate from the social media / blogging site : steemit where we blog and earn steem dollars and steem power. However, steemit is great because most of us gain knowledge here by reading other people posts, learning from others about wide ranges of topics examples cryptocurrencies , life, travel, cooking etc and thus we see a huge value creation from the platform including earning steem dollars and steem which we can change for fiat and solve our financial issues. Conversely, however, the intrinsic value we get on the platform lies on steem because of the future value which might surpass 500USD in 2 to 3 years’ time.
Why?
The reason is steem blockchain superior technology (which is currenty undervalued) which powers tops application (Dtube, Dlive, Dmania, Busy, steemit) and upcoming Smart media tokens(SMT read about the topic here) .
Moreover, @lukestokes in his article about the subject argued that
Steemit, the social media site and how it interacts with newly minted STEEM distribution, is almost a distraction from the value of STEEM, the cryptocurrency. When we focus too much on the reward distribution and not enough on the STEEM blockchain itself, we create confusion for investors. They hear "scam!" concerning abusers on the social platform which distributes new STEEM and equate that to concerns about the currency
Therefore we all should understand that there is a big difference between steem and steemit however both are very valuable to all of us . Put succinctly, steem is the gem that powers the steem blockchain and steemit is the social media application built on top of the steem blockchain.
Do you agree? Send in your comments and or sugestions and resteem in order to teach your contacts and upvote in order to send in your support.
Click here and read my former post: Warning: Blogging / Vlogging Smart: A better strategy to making it on steemit and online
An Advert for a top new crypto www.elyte.io
Competition: Our competition bounty is open- feel free to share this form and Join Elyte 1st Social Media Video Competition via this link : https://docs.google.com/forms/d/e/1FAIpQLSdOtRSqVYV48sIghmNUGG_pUNtoc-AneaDUzN8YBZhDPGPIzw/viewform
White List / Crowdsale: crowdsale is still open for those who want large quantities of Ethereum Lyte at good price. Take up the opportunity of cheap Eth now to change some fiat and buy cheap elyte tokens now before it is too late (see link https://main.elyte.biz/?page_id=433 )