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What do you understand by 'Steemit'?

What I understand by steemit is this;

Steemit is a blogging platform built on block chain technology that allows users to blog on any subject of choice and get rewarded in steem and sbd. Steemit has been in existence since the year 2016 and only accepts original and unique contents while giving you the opportunity to choose a niche.

Steemit is an ecosystem with so many communities. We have witnessed who keep the block chain server updated and produces block and also store the block chain data. They are the ones working behind the scenes to keep the site up and running.

We have reputations which is built on your SP. SP is steem power and it determines what the power of your upvote is on a particular post. The higher your SP the higher your rep on steemit. Those with the highest reputation are called whales while those with the lowest reputation are called minnows. Once registered, your owners key is sent to your mail which you can use to access every other key. Once your key is lost, you cannot have access to your account again and so you are advised to be careful with your owners key.

Post payout after every 7 days and you get the rewards of the post in SBD which is steem backed dollars and in SP. SP is frozen steem and can be converted to liquid steem through the process of powering down which occurs over a spam of 13weeks.

It is easy to earn on steemit once you understand the rules of engagement and always churns out original and quality posts.