Steem blockchain is a community-driven network that enables users to earn instantly. It provides an earning opportunity for customers based on their contribution to the network. Users can share curated content online and receive payment in cryptocurrency. The protocol is a publicly available incentivized blockchain database that allows users to interact and earn. It combines social media and cryptocurrency technology to provide users with value. The network ensures fair treatment of contributors by implementing a reward structure that reflects each user's contribution.

Steemit, the first app built on the Steem blockchain, launched on July 4, 2016. The protocol aims to provide value to its community of users by offering thoughtfully chosen news and commentaries, creating an opportunity to earn, answering users' inquiries, and offering a stable cryptocurrency pegged to the USD.

In January, Steemit was launched by Ned Scott and blockchain developer Dan Larimer, marking the first app on the Steem blockchain. Steemit is a unique social network app that operates like others, but it is decentralized and non-custodial thanks to its blockchain technology. As a result, the app avoids common data-related issues seen on traditional social platforms. Moreover, Steemit allows users to earn rewards based on their contributions to the community, and it also offers a stable cryptocurrency pegged to the USD, providing more value to its users.

Steem stands out from traditional social media companies because it rewards its users for their valuable contributions to the platform. What makes it even more unique is that it is based on blockchain technology, making it non-custodial and decentralized. This means that there is no downtime or data abuse, and the platform's data is perfectly secure. Additionally, users are paid in cryptocurrencies for participating on the platform. One of Steem's guiding principles is that those who contribute should be paid, just like startups do during funding rounds. Another core belief is to provide financial services and opportunities to its community members.

Following its acquisition by Tron platform founder Justin Sun, Steem underwent a restructuring of its operations. As a result, the creation of new blocks no longer relies on mining and the network has moved away from using proof-of-work. Instead, witnesses are scheduled to create a block every three seconds using delegated proof-of-stake, which helps to boost transaction speed and scalability. Witnesses who create blocks are rewarded with Steem Power.

To sum up, blockchain technology has been showcased by Steem in a remarkable way, transforming the way creators and curators of content are rewarded. Steem's rewards system, fast processing of transactions, and focus on community engagement have established it as a significant contender in the cryptocurrency realm. With the platform growing and attracting more users, there is no doubt that it will have a significant influence on the digital content industry in the long run.