Steem is a digital, decentralized social currency based on cryptography blockchain. It grows communities and makes immediate revenue streams for users possible by rewarding them for sharing content. It’s currently the only blockchain that can power real applications via social apps like Steemit. Steem's money supply increases by around 100% per year. So Steem has a high inflation rate. Just like other digital currencies such as Bitcoin, Litecoin, Dash or Ether, Steem is traded on various stock exchanges.
Steemit is an online platform,built on top of the Steem network, where you can post, comment and rate any kind of content. The beauty of Steemit is that all these processes are rewarded. If you post a post that many other people rate positively, you will be paid in the form of Steem Power and Steem Dollars.
There is also income for popular comments and even for the process of rating itself. The greater the Steem Power of a contributor, the more revenue the author earns. According to Steem co-founder Dan Larimer, the meaning of this platform is according to the fact that as many people as possible own and use and share Steem - especially people who have no understanding of cryptography or financial banking soloutions.