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Steemit is an online social media platform built on the Steem blockchain. Users of Steemit are rewarded with Steem, the cryptocurrency of Steemit, for creating and curating content on the Steemit platform. Steemit was founded in 2016 by Ned Scott and Dan Larimer, and is based out of New York City, New York. Steemit provides the following services for Steemit members: offers a platform for curated news and commentary, a way to get high quality answers to personalized questions, the cryptocurrency Steem which is pegged to the US dollar, and free payments.