Steemit, the popular decentralized social media platform, has made significant changes to its economic model due to community demand.
The inflation rate on the Steem token has been reduced and the Steem Power holding requirements have been curtailed from an average of one year to an average of one and a half months. This change will be implemented on December 6, and it is has been overwhelmingly welcomed by the community, as well as short to mid term investors.
CEO of Ned Scott said:
“With this hardfork the greatest portion of the community feels the ecosystem will be changing for the better and will now be more accessible to more people. The hard fork request was initiated by the community, and once we reiterated the recommendations, we received an overwhelmingly positive response. The reason we built Steemit