Innovation is an ascent that builds upon achievements of others.
Companies, teams, and entrepreneurs have always looked at existing innovative products and considered means to develop something better. Many of the electronics companies today reverse engineer their competitors' products to learn how the products work; then they research ways to advance the product's abilities. Software developers are no different.
The blockchain industry, in particular, is grounds for rapid advancements built upon concepts borrowed from existing products. In this market, new projects stand on the shoulders of existing products, that may have been developed just a few months ago, and grasp a greater level of value offering.
Steemit is one of the most successful products utilizing blockchain technology, but could a new project, MEDIA Protocol, provide something better?
The Function
MEDIA Protocol intends to remove the existence of centralized entities in the content market. It provides the means for other platforms to build an open market where content creators are able to deliver content directly to consumers.
These features seem similar to what Steemit offers because both products aim to decentralize the content industry, but there are many important differences.
One major difference is that Steemit is just one platform. MEDIA Protocol provides the means to other platforms to achieve the features Steemit has.
Moreover, MEDIA Protocol has a key focus on developing engagement without having content creators rely on centralized entities; that’s why the economics of the rewards a consumer can get by engaging with a particular creator are decided by the content creator as he/she is offering the incentive. Steemit’s engagement rewards are limited by the daily rewards pool.
MEDIA Protocol opens up the door for creators to earn in many ways as they can receive tips or set-up pay walls for premium content.
Steemit has always had an intent to become a new form of social media and it’s cored on individuals making their own profiles (including their own blogs). MEDIA Protocol is a means to develop an open market for content all across the web.
Is Steemit Over?
Steemit and MEDIA Protocol are not direct competitors, however, MEDIA Protocol has the ability to build platforms that could be competitors to Steemit.
In a direct comparison, these two products could actually function to strengthen one another. As MEDIA Protocol has the ability to bring an open content market across the web, it can penetrate new circles that hadn’t been very crypto-oriented through the incentive of allowing them to handle their own content market. This way, MEDIA Protocol hones the interest of a new user base that would eventually become accustomed to an open content market; some of these users would eventually go on to adopt Steemit.
Steemit’s made efforts, over the past 2 years, to gather an audience interested in an open market for content. Now, many of these users have become accustomed to content in this form and these users will fuel MEDIA Protocol’s beginning. With time MEDIA Platform will bring in more people into this form of a content market and some of them would spill over and adopt Steemit as-well.
Essential MEDIA Protocol ICO Links
🌐 Website: https://www.mediaprotocol.org/
💡 Whitepaper: https://www.mediaprotocol.org/papers/whitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3396313
💻 Telegram: https://t.me/Media_Protocol_Community
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