July 4th

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After being running in alpha version since March 24th, 2016, when the first block produced by Steem blockchain, and announced the beta to the public in May 3rd, only in July 4th Steemit released its first payouts and became fully functional. In May 5th, 2016, Steemit, Inc CEO Ned Scott answered in a interview to Kaherine Fletcher (CoinReport) about the chosen date:

"The Steem blockchain had been pre-coded to issue its first rewards on July 4th, which means it is currently tallying votes and posts, but it won’t reward the best contributions until July 4th. There is lots of interesting content showing up to compete to earn a piece of Steem’s first and largest payout, which will account for 10 percent of the Steem market cap. One of our goals is to attract many content creators and voters before July 4th to increase distribution Steem during this important moment."

In the United States of America this date is Independence Day, also referred to as the Fourth of July or July Fourth, is a federal holiday in the country commemorating the adoption of the Declaration of Independence on July 4, 1776. The ideia of relating blockchain and freedom and Censorship Free was reinforced by Ned Scott to Mike Dautner (Payment Week) in an article published in July 5th, 2016:

“Because it’s based entirely on a blockchain, Steemit shows what social media can look like without censorship. Everything we see on Steemit.com comes from the open source Steem blockchain, so the entire network is replicable on any front-end application. Attempts at censorship can be proven by anyone with a blockchain explorer or another front-end application built on the Steem, so users can feel free to post how they really feel. This freedom is what empowers the Steemit community, and it’s one of the major ways we’re different from centralized, controlling and manipulative social media networks.”

In July 17, 2016, Olusegun Ogundeji (The Cointelegraph) shared a Ned Scott's declaration on a media release about the effects of the STEEM Tokens distributions:

“After the successful payout on July 4, consumers have seen that our system really works. Everyday users are jumping onboard our social network and many early adopters have benefited. People have started saying that they have paid their rent with money earned on Steemit. Others have bought cell phones, washing machines, and even paid their electricity bills. We have constructed perhaps the first Blockchain application that anyone can use. Content creators and curators have enjoyed earning valuable crypto rewards through a fun and seamless experience.”


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