STEEM

Steemit Announces Structural Reorganization, Laying of 70% of Employees

Steemit Announces Structural Reorganization, Laying of 70% of Employees

CRYPTOCURRENCY, NEWSBTC, STEEM
The decentralized content platform that rewards content providers with cryptocurrency, Steemit, recently announced a corporate restructuring that will result in a significant amount of their workforce being cut.The announcement, which was made by the company’s CEO in a recent post, explained that the weakness of the cryptocurrency markets has affected both the company’s cryptocurrency (STEEM) and the company’s user-base, forcing them to layoff close to 70% of their employees.Ned Scott, the founder and CEO of Steemit, explained the restructuring, saying:“Given the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes, we have been forced to layoff close to 70% of the team.”Related Reading: Cry
Steemit Lays Off Over 70 Percent of Staff Due to Cryptocurrency Market Crash

Steemit Lays Off Over 70 Percent of Staff Due to Cryptocurrency Market Crash

BLOCKCHAIN, BTC MANAGER, CRYPTOCURRENCY, STEEM
Steemit, a decentralized social media platform has laid off 70 percent of its staff due to the prolonged bearish cryptocurrency market. According to a Youtube video posted on November 29, 2018, Ned Scott, the CEO of Steemit mentioned that the company will prioritize a restructuring and undergo further cost reduction strategies to ensure that the company remains economically sustainable. Steemit Experiences Poor Returns on STEEM tokens Steemit is a blockchain startup that that uses the Steem blockchain to reward their publishers and curators. Like other social network sites, users can upvote posts and comments. Content creators who get upvoted receive a monetary reward in the form of a Steem token and Steem Dollars. Steemit functions like a community where people who curate popular content ...
When Blockchains Go Down: Why Crypto Outages Are on the Rise

When Blockchains Go Down: Why Crypto Outages Are on the Rise

BITCOIN, Coin Desk, EOS, ETHEREUM, NEO, STEEM
Berniesanders (not to be confused with former presidential candidate and Vermont Senator Bernie Sanders) is an institution on blockchain-based blogging platform Steemit. Steemit allows content creators to earn crypto – at least, crypto that's native to the Steem blockchain, of which there are three – for popular posts. While recent successes include waffle recipes, romantic fiction and crypto punditry, berniesanders gets a pretty steady paycheck (about $30 at a time) for his single sentence, self-described "shit posts." A recent sampling: "Are you having fun? I'm having fun." ($60), "I'm on a boat!" ($31), "Show me your shoes." ($30) and "How many comments can a shit post get?" ($263 and 319 comments). But for a few hours on September 17, the Steemit community was deprived of berniesanders
Governing Decentralization: How On-Chain Voting Protocols Operate and Vary

Governing Decentralization: How On-Chain Voting Protocols Operate and Vary

BLOCKCHAIN, COINTELEGRAPH, CRYPTOCURRENCY, DASH, STEEM
Since Bitcoin’s introduction in 2009, there have been several attempts to include a decision-making process as part of the rules of a blockchain. This is called on-chain governance, a formalized way in which a group of people can make changes by voting through the protocol.The purpose behind it is to provide a clear-cut path to consensus. What are some examples of people using on-chain governance? It can include — but is not limited to — the following three topics:Changes in the existing protocol and parameters of a blockchain.Retroactively make changes to the state of the blockchain.Distribution of subsidies when relevant.Cointelegraph interviewed several cryptocurrency projects — such as Decred (DCR), Dash (DASH), Bitshares (BTS) and Steemit (STEEM) — to see how they address the various
STEEM DApps Take Center Stage in New York Crypto Exhibition Hosted by Sndbox

STEEM DApps Take Center Stage in New York Crypto Exhibition Hosted by Sndbox

BLOCKCHAIN, BTC MANAGER, STEEM
A pioneering exhibition that recently took place in New York may hold the key to envisioning the future of blockchain technology as more than just a framework for cryptocurrencies. Many are convinced that it could operate as a tool for opening entirely new opportunities for everyone from content creators to developers. The Crypto Renaissance, which was hosted by Sandbox between July 20 and August 15, 2018, brought together a range of new projects developed on the STEEM blockchain and showcased their use cases in the context of modern content creation and syndication. Far and Beyond the World of Finance More than just bitcoin, its price, and the associated crypto news cycle, blockchain technology also has some far-reaching implications for the creative industry and everyone concerned. This ...