Steem is the first blockchain to set out to disrupt the world of social media. Most social media platforms today do not reward users for providing high quality content to their audience (one notable exception is YouTube, where content creators can earn a small percentage of the advertising revenue).
Steem has turned this idea around by offering a platform where users are incentivised to create high quality content. Actions such as liking, sharing and upvoting will earn micro-rewards as well. This article describes the platform’s payment and tipping structure.
In addition, Steem is completely decentralized; this means there is no governing body that censors or stores user information to later sell to companies. This gives Steem some clear advantages over social media giants such as Facebook.
Steem was founded by Ned Scott and Dan Larimer. Dan Larimer has worked on a few other very successful blockchain projects such as Bitshares and EOS.