What is Steemit.com?
Steemit is a social network and content rewards platform that makes the crowd the beneficiaries of the attention economy. It does this be rewarding users with STEEM. Steemit has redefined social media by building a living, breathing, and growing social economy; a community where users are getting rewarded for sharing their voice.
How does Steemit work?
Steemit is a social media platform that works by having the crowd reward the crowd for their content. It does this thanks to the Steem blockchain and cryptocurrency; Steem is ‘minted’ daily and distributed to content producers according to the votes they get.
Source: Faq — Steemit