| json_metadata | "{"app":"musing/1.1","appTags":["steem","steemit","rewards"],"appCategory":"steem","appTitle":"Where do the rewards come from in simple terms please ??","appBody":"<p>New Steem tokens are minted to reward authors, curators, block producers and vested SP holders. Tokens in Steem are generated at a fixed rate of one block every three seconds. These tokens get distributed to various actors in the system based on the defined rules of the blockchain. These actors, such as content creators, witnesses, and curators, compete in specialized ways for the tokens. Unlike the traditional PoW means of distribution, where miners are competing over raw computing power, the actors in the Steem network are incentivized to compete in ways that add value to the network. </p>\n<p>The rate that new tokens are generated was set to 9.5% per year starting in December 2016, and decreases at a rate of 0.01% every 250,000 blocks, or about 0.5% per year. The inflation will continue decreasing at this rate until it reaches 0.95%, after a period of approximately 20.5 years. Of the supply of new tokens created by the Steem blockchain every year, 75% of those tokens compose the “rewards pool” which are distributed to content creators and content curators. 15% are distributed to vested token holders, and 10% are distributed to Witnesses, the block producers cooperating inside Steem’s DPoS consensus protocol. </p>\n<p>Steemit is just a dapp which offers a simple user interface and web wallet for users to deal with steem blockchain. I hope you know about CLI wallet, so one can handle it without steemit also. But only thing is that steemit gives a simple and easy to use interface. Also if steemit will not be there tomorrow then some another option may become available to fill that void. It is steem blockchain which is more generic than any dapps on the top of it.</p>","appDepth":2,"appParentPermlink":"fkx7txfxq","appParentAuthor":"nathen007","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
|---|
hiveblocks