What Would Medium Be Like With Rewards For All Authors?
I’ve been using Medium on and off for a few years now and I still enjoy the platform. While I’m not the most avid blogger I do read content from medium authors regularly and look for inspiration and insight from fellow authors.
Content creators are the lifeblood of the platform and without them, there would be no reason to visit the site. However, on Medium one has to make a choice, to either have your content enjoyed by more readers or to paywall your content to receive financial compensation for your content. This is a tough decision for many authors who now have to choose between earning and income or having a better reach.
While this has worked out for some authors, the majority of Medium authors aren’t getting rewarded for any of their contributions to the site. But what if there was a way we could reward every contribution?
Well, that's what Steemit aims to do, subject curators and community members visit the website each day to be informed and entertained by content just like those who visit Medium.
Instead of giving a clap to assist curation, the clap or upvote in their instance carries with it, monetary value.
Steemit is the original interface that interacts with the steem blockchain and is the gateway for many users to get into the platform. ONce you have a steemit account/steemit wallet you’re free to join the blockchain and all its various interfaces.
When blogging on steemit you are rewarded for your contributions through their native cryptocurrency called STEEM. The more upvotes you receive from high staked curators the more STEEM you can earn for your posts, which is expressed in dollar value on the site, but paid out in STEEM.
But steemit and STEEM aren’t the only ones making use of the chain and like Medium has its own publications so does Steemit, these publications are known as Tribes.
As mentioned before Tribes are publications built on the Steem blockchain and when you post on one tribe your content is also available on generic front ends like Steemit so you can earn across publications and their native tokens.
When posting on these publications you will earn in their specific token as well as STEEM and the best part is like Medium all you need is one account, it will give you access to post on any of these sites.
To access tribes you can either post via their front end or use their official tag which will place your content on their site.
To give you an idea of Tribes here are a few examples:
All about reviews, product reviews, software reviews and more
For authors who like to review movies and TV series
For those interested in finance and investment
Ideal for anyone into a natural form of eating, living, healthcare and more
You guessed it these are all for artists and creative types wanting to share their work
For all, you science geeks out there wanting to share their experiments and hypotheses.
Now that you’ve earned tokens and they’re in your wallet, what can you do with them? Well, that's where an exchange comes in.
Steem Engine is the exchange where all your earned tokens can be bought and sold. You can sell your earned tokens to others would be keen on improving their stake and influence on their favourite platform.
While those who want to be larger influencers on the platform can buy up tokens to add to their stake for curating and rewarding other authors they would like to support authors with the inflation generated from the platform.
I realise some of you may not be interested in only one platform and would like to blog or curate in various platforms which can be done easily via an interface called Steempeak.
All you would need to do is click on the Tribes tab and you can narrow down to the publication you like and start reading, curating or comment on various authors contributions.
The more authors the more value
These publications are still pretty small and the upside is great for those wanting to get in early as a big emphasis is placed on getting new authors to start to contribute.
As more authors come on board they increase the value of the platform with their contributions, they redistribute the tokens across more people driving up the distribution and need for it, increasing the value of the native tokens over time.
While rewards are great, these sites provide a gateway for authors to interact and contribute to content and topics they are passionate about. Creating a real sense of community and making it easier to find like-minded people from all over the world.
About the Author
Che Kohler is the co-founder of nichemarket, a South African Business Directory, classified ads site and digital marketing agency. He is an avid blogger and SEO who specialises in writing about marketing tech and cryptocurrency.