STEEM, The People's Blockchain.
For the majority of people when they hear crypto they hear the word bitcoin or to a lesser extent ethereum if they have looked a little closer. If I asked a thousand people in my city what they though of the STEEM blockchain I would be shocked if anybody knew what I was talking about. To be fair, if I asked 100,000 people in my city it would be interesting if anybody knew about what it is.
That is the stage that STEEM is at right now. People know about bitcoin because it has been on the news, it was the first mover in a new industry and therefore it is a household name. We have seen time and time again how being first is a massive advantage. It doesn't even have to be near the best but once people know the brand name they assume that it is a better product since they recognize it. Looking at coinmarketcap and STEEM is sitting at the lowly position of 42 in terms of marketcap. Well below Bitcoin, Ethereum, EOS, and Litecoin which are seen as the big coins in the market.
These numbers tell a story and for a lot of people that is the only story that they want to hear. Price and market capacity. They like charts and numbers and will base a lot of their decisions off of that. STEEM for them is a cute little social site that a lot of people think is a coin for steemit.com and is just a blogging site with a lot of issues and not much to offer in the long run. They could not be more wrong however.
STEEM is going to be the people's blockchain. The blockchain that brings in the average user, the non tech people and the tech people alike. It will be the chain that sees mass adoption, mass innovation and within a few years will offer the most diverse range of use cases compared to any other blockchain that exists right now.
Why am I so confident??
I am confident because I can see the changes happening as we speak. I can see what is being built here and I love it. It is not without fault and not without many issues but these hurdles are being overcome one at a time and strengthening our position every time.
Blockchain stats.
I am a no tech user so for me the stats are a side that I tend to stay away from for the most part. But even I have to sit up and take notice when the chain has zero fee, 3 second transactions. Meaning you can sent value anywhere in the world in seconds without losing any of it to fees. Put that in contrast with any existing system and see how it stacks up. Put that in comparison with Bitcoin, the market leader and see how it stacks up. There is a lot more to STEEM than meets the eye.
Blockchain transactions and capacity.
STEEM Apps
If you take a look at the site,
https://www.stateofthedapps.com/rankings
right now you will see that STEEM apps make up 7 out of the top 10 active apps at the moment. While other chains like EOS, TRON and Ethereum are lauded for having all of the apps and being to the forefront of development. Where they are lacking is in having the people to use them.
STEEM on the other hand has developed apps and grown them through community use. These have been increasing in the past few months and we will see a lot more to come during the year. Not only that, STEEM has developed a broad range of apps that provide many ways to interact with the chain and earn STEEM through their use.
You can blog through,
Post images through,
Videos shared through,
Gaming with,
Gambling with,
This is just a snapshot of what the chain has to offer with multiple other apps covering different areas of interest and opportunity. There are apps like @steemhunt which has recently started it's IEO and offers huge marketing and advertisment possibilities. Soon to be followed by @actifit (Our fitness tracker) and many others. We have a STEEM business alliance which is gaining real use cases for the STEEM token and bringing businesses into the fold. @oracle-d who have been working to bring STEEM to the forefront of blockchain innovation and adoption.
There are also multiple tools and options there for people to build their own apps and projects on the chain and add another layer to this thriving eco-system. So many that I have left ouut but maybe for the next time. It's a lot to get your head around all at once.
STEEM Community
This is a factor which is a lot harder to measure but one which should be top of the list in my opinion. It is the people which are driving all of these projects and without getting in users to be part of the blockchain then there is no point in having it. STEEM is a unique project full of varied and interesting individuals spanning all sectors of technology and the arts. While the project started out as a simple blogging platform the fact is that it has far surpassed it at this stage.
With that in mind the fact that we can all showcase our projects and interact with each other is a huge strength behind the projects. That ability to market your work and gather followers is the reason that the apps have been so successful.
People can showcase the work that they do and create content for the people to see and follow. It's a self sustaining circle. If the work is good it will get support and advertisement. If you have a crypto project, what better place to write about it and get people involved then on a platform filled with crypto users?? There are a lot of possibilities for this going forward for businesses and groups to utilize the community to start projects.
We have so many users involved in reaching and educating the population on what can be achieved through using the STEEM blockchain and all of the possibilities it will offer for the general public. Not to mention some of the work going on behind the scenes in Discord where you will meet some of the best people imaginable who are trying to bring this project to the people.
With over 1,200,000 total accounts and 50,000 unique accounts operating on a daily basis this really is where all of the activity is happening.
Summary
While there are a lot of apps and information involved in this post, I have really only scratched the surface of what we have to offer on STEEM. There are a lot more projects covering a lot more areas than I could possibly fit into one post.
I fully believe that in the next three years we will see a huge shift in the way people use the internet. The large corporations that are taking advantage of our internet use have started to expose themselves for what they truly are and people have taken notice. What we have here is an opportunity to build a new system of use. One that empowers the people through their use and allows them to earn from the value that they add to the system.
That can be done in numerous different ways but people will have the various options for that. At the moment it's all still a bit messy and a bit un-coordinated but it is getting there. This blockchain has the chance to become a blockchain of mass adoption. A blockchain that we can bring people to and let them jump straight in.
One of the major adoption issues right now is the complicated nature of the system but that is being untangled day by day. Like any new system it will take time to get it right but i think that we are on the right track. A day will come soon where people will be operating on STEEM without knowing the details behind it. They will get an account through an app that they noticed and suddenly be part of the eco-system. From there all they will see are the apps that they have joined and the wallet for their STEEM. That is all they will want or need to see to use it.
I think that STEEM has the unique opportunity to on-board people to crypto and get them into a change of use on the internet in a way that none of the other blockchains do. Here there are options for everybody to learn and grow a portfolio.
STEEM is the gateway to cryptocurrency that people just don't know about yet. That will change and the sooner people realise that the better it will be for them. Like bitcoin, getting in early is a huge advantage and will give you a massive head start before people wake up to what is on offer here. And that day will come, sooner rather than later.
For anybody who has not yet joined the system there are plenty ways to join. Through steemit.com for a free account (can be a waiting period). Instantly with @steem.ninja using this link, https://account.steem.ninja?ref=niallon11 (cost $2.50) or i have spare accounts if you want to get in contact through steemit or twitter @niallon11.
If you don't know much about the blockchain feel free to ask me any questions that you have either here or on twitter niallon11 and I will get back to you. If I don't have the answer I will find it out. Either way you should be trying to learn as much as possible about the people's blocchain and getting involved sooner rather than later.
Thanks for reading and feel free to share this across any social media that you like. The more people that can see what we are building here the better.
@niallon11, you pulled everything together in your post. You've identified the impacted apps and shown good reasoning on why Steemit is the blockchain for the people.
Thank you!
Steem was crippled by the change from proof of brain to proof of wallet, imo.
We have dethroned the public face of that mistake, but until we fix the damage we will remain walking with a limp, and there will only be hobbling rather than running.
Long live proof of brain!
Proof of brain was before my time so I'm not sure how effective it was for running the chain. All I know us that when I joined in 2017 the distribution did not work. It was all kept in house between a few larger users. Thankfully that has changed during the year as their influence is shrinking and the apps are spreading out the steem a lot wider.
There have been a lot of changes over the past 6 months so hopefully we can keep fixing these issues until the system works a lot better for the majority of users.
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It was the same under the n2, but worse.
Until the whale experiment put a 800mv cap on voting, then all the math came into balance.
My vote went from dust to .04stu with under 1000sp.
Stinc hurried up, 8 days, and forked in linear rewards and took out the 4 post soft cap on rewards so haejin could rape the pool.
Before, the 5th post of the day got its rewards reduced, the 6th even more.
With a 500mv cap you will see just how bad the greedy whales are raping us.
When they are removed from the pool the rewards they take daily now gets spread out to everybody else.
Look here.
If anything, this is even worse now that this report isn't produced daily.
I can't say that there are not other drawbacks to the n2, but simply putting a 500mv cap in place does wonders to the adoption rates because the fortunes now being taken by the top ten accounts would get spread out to reach more newbs.
I'm not in front of my computer this weekend to study that properly but from what I can see you have a massive point on this one.
Without doing the maths anything that can spread the distribution of the reward pool among more active users could only be a good thing. The amount of people that we lose at the beginning of their steem entry is crazy. The power of the whales is getting diluted slowly and steadily over time but it would be great to speed that up and get the rewards to more people. The use of apps has broken up their power as they reward people for use rather than knowing the right people.
The reward structure will no doubt get changed again at some point but the people making those decisions will hardly change their stance at this stage and will keep it profitable for themselves.
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That dilution is their biggest fear.
As dilution increases their power decreases.
Little man disease tells them that less power is the worst thing in the world.
'It's just good crapitalism.'
I know stinc, et al, will take years to dilute, but they can only sell once.
Once they have, I'm hoping proof of brain is restored.
Otherwise, once they get the memory issues cheap enough to run a node, we can organise a fork to restore proof of brain.
Then we can just see if proof of brain can float without a tyrant forcing it on us, eh?
I may be the only one beating a drum, but I'm not alone on the principle.
Vote proof of brain!
Better distribution should be a priority as a large stakeholder. They already have their reserves built up so getting steem into more hands can only be a good thing. I would much rather have 10000 at $10 than 1m at 10c.
Making steem a success and raising the price will help the whales more than anybody. I know steem.inc has a huge amount but they are on a scheduled sell off so that will dilute over time especially since they don't actively use the stake. I was on discord thursday and steem.inc were on talking about the new memory system through mira. From what I understood within the next month it will be possible to run a full node for a far reduced price. Making it profitable for anybody to run a top 100 witness from a basic set up. I'm not a techie but there were a lot of witnesses in the chat and they were very excited about the possilities.
There are plenty more people thinking and talking the same way that you are.
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Yes, after the hijackening stinc, et al, was very careful to bring some golden boys with them.
They know which side of the bread gets the butter.
Don't expect to hear any dissent from them.
I'd agree with you about the distribution, but it doesn't seem those currently in charge agree with you.
Dilution was a popular topic before linear reaards, not so much after.
I can't say, for sure, that pob, in the form of the n2, is the optimal solution, but the abuse we flag now was predicted, and many former authors just farm self votes, now.
Some made posts at the time.
Remember, these folks think they are doing you a favor to break your game, all the better if your bank comes with it.
Awesome post! You covered all there is to say, the best overview I have seen. This post right here should be an advertisement everywhere. After reading this I see no reason anyone should refuse the invitation to join :D Instant resteem.
Thanks for the encouragement. I know that most of us here know the benifits of STEEM and that is why we are here.
What I was really hoping to do is get this seen by a few outsiders who might have some interest and start looking at STEEM a little closer. Feel free to share it externally and let the people know what we are building here. 💪
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Great post! Shared this on Reddit
Thanks for that. I'm at home sick and just wanted to put together a post from an earlier conversation. Never expected it to get this kind of traction behind it. Appreciate the support though.
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Wonderfully written post!
Thanks a million for everything you’re doing for our Blockchain!
You've done a lot more for STEEM than I ever could but as always I'm happy to be here working away. If anything we do today's adds a little value or brings in another user then I consider it a win.
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Highly resteemed.
Thank you. Appreciate you taking an interest and giving it a little push.
You're welcome.
I always do this when I find an excellent post like this one.
Steem on, my friend.
100% sharing for any curious friends on fb 🧡❤💜 #STEEM on!
Great to hear it. The more people we get interested the better. Every person we can convert is a win. 🤗
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A good post. But posting this here, albeit necessary as not everyone knows all this here, is preaching to the choir. What everyone needs to do is to go out to mainstream platforms and set the record straight if they encounter blatantly false information about Steem. Much of what little information there is out there on Steem - even in the wider cryptocommunity - tends to be, in @theycallmedan's words, dog shit. It is begging to be corrected. There are tens of thousands of us. That's enough to have an impact in the long run.
I've been told that marketing Steem to the masses is unnecessary as Steem is infrastucture only and of interest to developers at best. I disagree to the extent that Steem has a bad and mostly undeserved image problem among people in the crypto space, too. So, wherever Steem and Steem apps are talked about, please do get yourself up to speed about the basics, if need be, and the most important developments, and simply correct any false information you see spread out there. If everyone does that for a year, our chain and the STEEM price should be in a lot better shape than it is now.
100% agree with you on this. I actually wrote this to share on twitter and try to get more people interested in what is going on. I was hoping that it would get a few shares among the crypto community and get people asking the questions at least.
I have only recently start using mainstream social media again with the sole aim of getting steem more widely known. I know the reason it has a bad name from when it was created but that was a long time ago and we have moved on from there. Every day those original accounts become less and less relevant to what we do here and the apps are a big part of that. They are changing the distribution of steem which can only be good in the long run.
If we all get involved we can get the right message out there and try to correct all of that false info being spread around. As you said we have thousands of people active every day and that can create huge waves.
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Your point about the bad name of Steem originating from how it was created is a good one. We have come a long way, indeed. Rather than spend a lot of time on certain mainstream social media sites, I'd perhaps prefer googling up Steem and making surgical strikes, cutting the wings off of false pieces of information appearing in conversations.
$rewarding 25% 15 min
That's an interesting approach actually. Especially if you were targeting crypto hotspots. Places that are influential towards the crypto world and the people involved. If you had a dedicated group of people operating in influential areas you could stop a lot of the false info before it gets going.
And while I've heard of hear of plenty people promoting the blockchain I haven't seen many talking about defending it in the way you have been.
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Ottimo post, davvero!!! Lo condivido subito
Thanks for reading.
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Great and well rounded summary my friend! I am a bit behind on my feed but Ibam happy you have hit this home run! I shared this on Twitter as well!
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Thanks for the support. It's been great to see so many people enjoying the post and giving their opinion. It really seems to be shared by a lot of people on the chain and the popular opinion.
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