Decentralized social media is peer-to-peering into the future In 2016, Steemit pioneered the world's first blockchain-based decentralized social network and in my view remains one of the most important blockchain projects today. Boiled down to its simplest form, Steemit is a kind of reddit with the property that creating interesting content, or curating it effectively, will earn users real money on the platform in the form of a cryptocurrency called Steem.