Steemit is a blogging and social networking website that uses its Steem blockchain-based rewards platform for publishers.[2] The Steem blockchain produces Steem and Steem Dollars which are magic bean tokens obtained for posting, discovering, and commenting on content.
History:
On July 4, 2016, Steemit, Inc. officially launched Steemit, a social media with virtual currency rewards that runs over the Steem blockchain. On July 14, 2016, Steemit announced on their website that they were hacked. The attack, according to them, has compromised about 260 accounts. A little less than US$ 85,000 worth of Steem Dollars and Steem are reported to have been taken by the attackers.