U Network - Steemit Killer?

in #cryptocurrency7 years ago

U Network - The Chinese Steemit Killer, or is it?

Recently, an up and coming project in the cryptocurrency sphere has shown up, and its name is U Network (UUU). U Network claims to be "A Decentralized Protocol for Publishing and Valuing Online Content". In other words, it is very similar to Steemit in the sense that it is also a prediction market, where it aims to sieve out the best content that content-makers have to offer.

Based on its whitepaper, U Network claims to provide these four key benefits:

  • Get more money for your work (Getting a fair valuation of your content)
    • Similar to how Steemit users earn revenue by creating interesting content.
  • Earn money by predicting popular content
    • Similar to Steemit's model as well
  • Discover high quality content faster
  • Be part of content moderation and governance

Honestly, it doesn't sound too shabby, and like many services that we use, it's less about the idea and more about the execution. A brilliant execution can take away what advantage a first mover had in the first place. In this case, we'll have to see how U Network executes its plan.

The rest of the whitepaper has quite a bit of math jargon, where they explain how their token economy and voting system works. You can take a look at their whitepaper here if you're interested.

From an Investor's standpoint

U Network can currently be bought on Bibox and DDEX. Standing at a mere 21 million USD market cap, with only obscure exchanges to its name, if U Network does live up to what it promises to do, investors can expect a decent return on their investment in time to come. With possible new exchanges on the horizon, I'm optimistic about U Network's potential to rise up as one of the top few coins to survive 2018. The development team and community are also very active, making that a huge plus for this project. 

Of course, investments are not without risks, and there are some things you might want to consider before investing into U Network. While it has a pretty lofty ambition, its main net release is scheduled to be in November this year, with a test net release only in August. A huge run up from now seems pretty unlikely, and you can consider holding off until it's closer to their test net release date. This is definitely one project that's on my radar, and as always, do your own due diligence before investing into any project.

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