While majority of people thought Meos was going to be the Steemit killer, it turned out that Meos was actually Voice - Twitter killer. Meanwhile, the real Steemit killer existed right on Steem.
Ladies, Gentlemen, Bots and Bugs, I present to you PALnet.io, the Social Crypto powered platform built on the Steem Blockchain.
This is the kind of news all over the place. Almost everybody is posting with Palnet nowadays. I have too, twice maybe, and I'd tell you why.
Palnet has a track record of a tested model, Minnow Support(MSP), by means of community upvote bot for distribution of Steem tokens, it wasn't a perfect system. But with the application of Scotbot, distribution is made better if MSP became a tokenized community of itself, which was made possible by SCOT and gave rise to PALnet. Now PALnet runs on PAL tokens.
Then how dare people say PAlnet is Steemit killer?
It's all about the distribution.
You see, Scotbot is a closed source Scot distribution tool. It has 3 separate rewards pools it can use to distribute Scot: proof of brain, delegated proof of stake mining, and staking.
I think steemit relies on only one very broken system of distribution which is Proof of Brain, which kind of 'untechnically' leaves distribution of Steem in the hands of curators, very inadequate as we've all seen over the years. If I'm to count proof of stake system, that makes it two ways, but that's majorly tailored for large stakeholders if I'm not mistaken. Both don't solve distribution, maybe together serve 40%, which is still below par.
Stake Mining. The PALnet magic beans
I'm a sucker for engagements outside steemit. Then I'm supposed to be on Whatsapp right? Connect with family and friends seamlessly through calls and private messages, guess what I'm a sucker for that too, I've deleted whatsapp for the 100th time. I'm a sucker at being social, but I thrive on steemit, I basically live here where I'm very comfortable with connecting with people and learning, socializing- the steemit way. Take me out of steemit and you've lost me, basically. I wish I could operate better, but it is as it is and I'm sure not alone.
Distribution by Proof-Of-Brain
When a system runs on a distribution that depends on Curators a lot of people like myself are bound to be left out among the multitude. Curators help to ensure that distribution not only gets to you but also tries to verify your authenticity, i.e, ensuring you're real and your content is original. Curators arise from different communities. As a user, one is supposed to be part of at least one community, for the sake of identification for distribution of token by engagement.
Hence the community decides to run on discord, with live meetings, engagement(s) activities and many other features to help identify real users. This is where I hate the kind of person I am, a sucker for engaging outside of steemit. A big problem for Curators to find me and my type, our day/night cries. Ofcourse some communities have perfected this more than others with strict rules and guidelines, which is why some of my posts still carry some figures.
Technically, one of the means through which PAL token is distributed to users is through proof-of-brain. Meaning contents are subject to be curated through public discovery, or the discretion of Curators. This should natually discourage me from using PALnet, this is why a lot of people left steemit.
Distribution by means of Proof-of-Stake
For steemit, when you stake your funds(steem), then you're being given some sort of calculated returns based on curation(upvoting good content). But some people left steemit for this reason as well because they had no funds to stake and were probably poor at engagement. This method of distribution is also available for PALnet, only better with 50/50 returns formula on curation.
Lastly, Distribution by Stake Mining
There are tokens on Steem engine called miners, owning and staking them allows stake holders to receive rewards. PALMM and PALM are SCOTS. These tokens allow you to mine PALcoin just by staking them, no posting, no gigantic infrastructure, just pure mining. The megaminer(PALMM) is 4 times more powerful than the miner(PALM) for only 3x the price.
So what if distribution doesn't reach me through the other two highlighted methods, then I can totally have my share of PALcoins by mining. This is what makes PALnet sweet for everybody, this is the Magic beans. Some users even engage curate and mine at the same time which is quite very interesting. If you're not on PALnet and taking advantage of these features available, then maybe you're living under a stone.
So it is evident that the PAL noise is not a facade afterall. Even if these features don't totally fix the distribution issues, it sure gets it closer to what it should really be, at least I see more opportunities for all. There's no feeling as sweet as when your post gets publicly appreciated and curated, but there's also a sweet feeling knowing one can stake and mine away. I'm up for both anyway, may the god of engagement and crypto be on me and you.
There it is pal, you don't want to miss out of the fun. So while you stake on steemit to earn steem on curation, coughs...coughs some more...clears throat..., remember you can also buy yourself a miner, and mine some Pal coins alongside.
So at this point, Steem engine with @Aggroed and his team are providing more use cases for purchasing and holding steem more than steemit itself, very interesting. But do you know steemit cannot be killed? Because steemit is the company that created and continues to work on the steem blockchain, and Steem my friend, is going to the moon.
So what does that make PALnet? Here is the whitepaper...
Palnet is what should have been, Palnet is the new dawn. PALnet is going all over the world. Are you tired of hearing or reading about palnet? Don't be, it's just getting started.
Glossary
Steem: a delegated proof of stake blockchain
steemit: a company that created and continues to work on the steem blockchain
steemit.com: a portal to view information posted to the steem blockchain
Steem Smart Contract Platform: this is a node that reads custom json published on the blockchain and executes contracts based on opensource and publicly available code. It utilizes the steem database as a public and distributed leger that records all the transaction data.
steem-engine.com: A UI that interacts with the Steem Smart Contract node and displays information. It additionally provides services that rely on the public and opensource node.
Scot: a smart contract organizational token, it's a synonym for token/coin, but specific to coins/tokens on the steem-engine.com platform
Scotbot: a closed source Scot distribution tool. It has 3 separate rewards pools it can use to distribute Scot: proof of brain, delegated proof of stake mining, and staking.
Nitrous: a custom website that displays post rewards for a particular Scot. It's similar to steemit.com because it was originally built on condenser, which is the program that powers steemit.com, but it's been highly tailored to specific scot instances.
ScotTube: a custom website that displays post rewards for a particular scot based on video content. It is a fork of of of D.Tube.
ScotBB: A custom forum that displays post rewards in a particular Scot. It is a scot powered instance of TokenBB.
Tribe: A website with multiple instances connected to it for example: a blog, a forum, and a video service.
source
Posted from my blog with SteemPress : http://steemhosting.com/kilimanjaro/pal-here-pal-there-give-me-a-break-pal/