Several months ago, an avid cryptography student Bedeho Mender outlining the problem that the Ethereum network faces.
https://medium.com/@bedeho/why-your-ethereum-project-will-most-likely-fail-d14b6d8f1c7c#.twwpy0tuv
Namely: Who on Earth needs to use its platform?
I quote:
"Most proposed projects on Ethereum cannot point to a plausible end user benefit which is primarily enabled by being on the platform.
Things like “no middlemen” and “decentralization” are not actual end user benefits, they only potentially generate benefits indirectly.
Perhaps even more so than in the Bitcoin space, using the Ethereum platform seems to be a decisive end-goal for people in Ethereum projects, rather than providing a better solution to a real world problem."
The problem that has plagued the crypto space is really one of use cases. The appeal to "decentralization" and "financial freedom" are mere abstractions to average joe, and not significant enough to entice them to use cryptos.
Bitcoin arguably has a use case, Silk Road, and so naturally, bitcoin price exploded once the site was launched.
How is Steem different?
Isn't it obvious?
It's a crypto-coin with a use case built in!
So now years of wandering around trying to find adoption like a sad puppy searching for a master
Steem was designed WITH a master. It's designed with adoption BUILT-IN.
So hang tight and enjoy the ride, my fellow early adopters, I guarantee it'll be unforgettable!
;)
Check out my other exciting posts:
https://steemit.com/money/@positive/my-next-door-neighbour-who-is-a-single-mother-is-now-on-steem-steemyourneighbour
https://steemit.com/money/@positive/how-steem-will-solve-global-inequality
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