In biology we see population growth curves that follow a characteristic S shape.
When a new species enters a new environment and that environment is favorable we see an interesting growth phenomenon.
First growth is slow due to the limited number of individuals available for breeding. Once a critical mass is reached then the population growth rate explodes in an exponential fashion until the carrying capacity of the ecosystem is reached and then the population stabilizes at equilibrium.
We observe the same growth phenomena in the technology space.
At first adoption of a new technology is slow, its not well known and typically expensive.
The price gradually comes down as more factories start mass producing the maturing tech.
Then a tipping point is reached where the new tech is now at price that is affordable to the average person and adoption explodes.
Eventually things stabilize when everybody has some of the new tech and capacity is reached.
We have seen this with:
- Steam powered machines
- Cars
- Microwave ovens
- Video
- Cd
- Dvd
- Computers
- Mobile phones
To name but a few.
At the moment internationally we are still in the initial slow growth phase for crypto currencies and blockchain based solutions.
Steemit as a functional blockchain based applications is similarly still in the early adopters phase.
We saw these adoption curves in the social media and blogging spaces.
Web 1.0 was static web pages.(the internet of information)
Web 2.0 started with forums and chat rooms and culminated in the social web we see today.(the social internet)
Web 3.0 is in its infancy
Steemit is so innovative it could likely be considered Web 3.0 (an internet of value)
We still need to see the exponential explosive growth period of mass adoption.