Blockchain network takes on flawed steemit by offering lifetime earnings to creators

A blockchain-based company is launching a content rewards platform that compensates creators – and says its platform boasts compelling advantages over “exploitative” mainstream rivals, all the while addressing flaws in other crypto-driven sites which offer a similar concept.

UUNIO wants its service to threaten the likes of YouTube, where it claims some content creators are barely given $500 even if they amass a million views. It is also railing against internet giants such as Facebook, which makes billions of dollars a year on the back of personal data and advertising – wealth which is never shared with its users. Copyright infringement is also an issue, with fledgling entertainers all too often finding their work has been ripped off by other accounts.

But perhaps most interesting is UUNIO’s plan to challenge other blockchain platforms which pay people to post online – and Steemit is one of the networks firmly in the company’s sights.

According to UUNIO, Steemit’s upvoting system is flawed because the power carried by a single vote is determined by the money held in a user’s account. The company says this has left smaller content creators struggling to earn decent compensation unless their work is recognized by a “whale” – someone with significant Steem Power. To compound the problem, Steemit only pays out rewards for the first seven days that a post is live, meaning creators of evergreen viral content could potentially miss out on years of earnings.