I discovered steemit after knowing about EOS, in one of the interviews Dan Larimer was talking about his previous projects and one of them was steemit. I quickly visited the website, signed up myself and waited for approval. Since then my life completely changed.
For me, Steemit opened the doors to a different kind of world. Friends from different countries, a group of kind and loving people what else could you wish for. Plus people are earning money travelling, blogging and working on open source projects. It's simply unbelievable!
I started to learn more and more about this platform and continued tracking the EOS project as well.Like Steem, EOS is an amazing platform which will be going to attract many block-chain startups and as Dan has learned a lot through trial and error from his past ventures, Bitshare and Steem alike, we could expect great things from EOS as well.
I don't wanna get into the technical detail of EOS platform, why it's better? what is it offering?. For knowing that you may visit the 's blog or could read EOS whitepaper in here.
Why I think EOS gonna overtake Steem?
Steem Platform
Steem has prepared a lot of people to create content and earn. It has attracted a large audience and people are ready to experiment with decentralized platforms. After knowing about Steemit, I further came to know about similar projects working on the somewhat similar concept of social network on the blockchain. Some have already started and some projects are in ICO stages.
Do you know about sphere or sapiens.network or akasha, well there are plenty of projects working on similar concepts?
So why only steemit worked?
I could say it's the technology, graphene and Dan Larimer vision to create something like steem. We don't need to pay something for all transactions happening in the blockchain and its fastest blockchain till now.
After been here for like 2 months, I got to know a lot of thing about steemit, and how it's not perfect for being adopted by mainstream and why any other project working on the same tech could overtake it.
We all love steemit because of visibility and reward it provides to the content creators, but I think slowly things are changing and minnows are struggling hard for the visibility.
The people who discovered steemit in the early days are in advantage because of the weak algorithm of steemit.
For gaining some reputation one needs to get upvotes from reputed people. And once people with high reputation and VP leases there SP to some bots for passive earning things dramatically changes.
They don't care about the platform anymore, all they care about is money. The high Steem Power gives a lot of power in their hands and that could be misused for themselves.
We have all come across the people who just comment and upvote their own comments 100%, why they do that? Just because they own SP which will give them 3/4 SBDs and some more SP so instead of upvoting others why shouldn't they upvote their own comments?
High Steem Power should not have been the deciding power of voting value, instead of that Reputation should be deciding factor. That wouldn't have given an advantage to people who joined in early days, instead of that to people who created some great content.
Secondly, the steem power could not have leased to bots for selling upvotes. It would have been a better system than the current steemit version.
Changes in Reputation Algorithm could change a lot of things for people, the newbies to steem won't have dared to spam the site and uploaded the better content instead.
Could we bring that change? Even if
and steem organisation changes the algo will the witness support the fork?
We all the answer to it, people who have invested a lot of energy collecting bit and bytes of steem won't allow that change to happen, and that is where Steem will lose everything to its future competitors.
Some people have already started working on the reputation as the deciding factor. You may learn about sapien.network in here or you could scroll my blog as well for more details.
New platforms are emerging on Ethereum blockchain which is not that a big issue because of low tps and gas Ethereum blockchain requires.
But we surely can't ignore the fact that EOS has a lot of potentials to create successful competitor of Steem and I am cent percent sure that it gonna do that.
The comment by on
's development post about steem gave all of us some indication, but our speculation or greed or over trust blinded us into not taking that seriously.
Why EOS?
EOS will be going to have very less bandwidth issue, they have very large capital in their hands right now to build something huge as steemit. They have a frustrated audience/content creators who are struggling hard on steemit and looking for some similar platform. Actually, the fast steemit is growing ignoring is the issues, the fast it is helping some EOS social networking project to grow.
Dan's vision of Steem was to create something for blogging and then creating marketplaces around it. Maybe he was thinking small at that time. But after looking at the bigger picture of what Ethereum has done for blockchain world, he envisioned of EOS.
People will be a lot more excited of investing in different projects on EOS blockchain and if some social network just gives them an option to earn some EOS coin, people will just start migrating towards that platform.
Need is there, the audience is there, problems are there to be solved - It will be a perfect opportunity for EOS to start something like Steemit if Steem Inc just overlooks the issues of this blockchain, we could be actually seeing some strong competitor of steemit.
I know SMT is going to be introduced soon, a lot of people are positive and excited about that. They are liking the idea of token on this blockchain. But the development team is overlooking the foundation of steem i.e Steemit. I have gone through some of the comments by that no one could introduce something like SMTs, I don't know why he is saying such things we are open source and things could just be replicated. Maybe I am naive if you guys have any different opinion please tell me about that in comments.
Conclusion
We are living in nice times right now. The people who have find out about the steem are in luck because a lot more people going to be on-boarded. Steemit is better than any blockchain project till now with sign up ranging to 0.8 Million. But are they all happy, are the true content creators getting the fair share of profits. Or are they still struggling and wished that they would have joined this platform earlier.
If there is the slightest amount of feeling in newbies of regretting not joining steemit early, there are fair chances of them looking for better and similar projects. We all are comparatively early members of steemit, think about the people who gonna arrive later on this platform, it going to be hard for them to collect high valued SP.If things are not changed fast we gonna lose to Behemoth in the blockchain industry.
It going to be difficult changing things right now as people greed won't let them agree to changes. But their ignorance to changes/ forks will take steem down. Short term gains may result in loss of hard work of two years.
EOS will be going to attract a lot more people thinking of venturing into blockchain model. Because of no initial requirement for creating DAPPs and projects on EOS (you need to pay 1 Ether and Gas in Ethereum blockchain), people will divert towards EOS. In future, we could see people trying to earn some EOS just to invest in some great projects like Wikipedia's blockchain project and nothing could be better than a project like steemit to let the people earn!
In the end, I just want to say that please please don't flag me for aggrandizement, it was simply my opinion. if by chance you come across this post, you need to act fast. Steemit needs some changes, we don't want the bots or unnecessary power in the hands of early birds. Algos needs to be changed, or we could end up just being the "Orkut" of blockchain world and some else will take away the "Facebook" title.
You once commented "Competition is a good thing. Embrace it. Flaunt it. Savor it. Build a better product.
When you have competitors—make them known to you—find them—analyze them—pick them apart—find good things—see weaknesses—take ideas—beat them. Enjoy it."
I guess time is coming to see some tough competition and that too from the person who gave birth to this technology.
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