On the surface, EOS and Steemit have little in common. One is a decentralized application platform while the other is a profit-sharing media platform.
The truth is, however, that both services are trying to redefine how business is done in their respective spheres. EOS is arguing that with superior code and by rewarding stakeholders, you can have a faster, cheaper, safer ecosystem for running industrial-grade dapps. Steemit is seeking to break down the "publisher takes all" format of advertisement revenue by creating a means that readers and publishers alike can monetarily credit content creators and moderators.
This article will compare the two platforms from an investor's point-of-view.
Tales of the Tape
|
|
EOS.IO (EOS) | Steemit (STEEM) |
| Utility | Ultra-fast, transaction fee-free decentralized application platform | Steemit network store of value, social network reward token. |
| Number of Holders | Unsure. Due to EOS's unique distribution scheme, where 90 percent of the platform's tokens will be distributed over a 350-day period, the number of purchasers is in flux. Additionally, as there is no public block explorer, the number of wallets cannot be confirmed. | 500,000+ |
| Community | Large (based on Twitter followers, Facebook presence) | Large |
| Market Capitalization (2017) | $6,994,699,385 | $940,021,504 |
| Daily Trading Volume (High, 2017) | $925,685,000 | $3.987,600 |
| One-Year Performance (2017) | 1,237% | 4,835% |
| Public Awareness | Low | Low |
Good News Spreads
EOS is far from the only competitor in its sphere. A decentralized application platform, EOS is butting heads with the would-be king, Ethereum, and a large array of sibling patterns. EOS, however, seeks to distinguish itself by claiming to eliminate all transaction fees on its network and having transaction speeds measured in milliseconds.
EOS seeks to achieve this by developing EOS.IO, the proposed world's first decentralized operating system designed specifically for the running of decentralized applications. EOS.IO would be multi-threaded, dependent on delegated proof-of-stake for its consensus protocol, and reflective of its token allocation for determining bandwidth access and storage on the blockchain. What this means is that a node owning five percent of the available EOS will control five percent of the EOS.IO's blockchain bandwidth and storage.
Enthusiasm for this technology has EOS surging when the rest of the market is sagging. EOS is rumored to be pursuing joint ventures and is up for listing on several exchanges, per online discussions. One such venture partner, FinLab AG, has announced a $100 million venture fund with Block.one, EOS.IO's developer, for the development of EOS software.
While there is building enthusiasm surrounding the use of the Steemit platform to promote censor-free media, this enthusiasm has yet to translate into increased speculation. While Steemit has a superior year-to-year performance, EOS's daily transactions, at a seventh of the coin's market capitalization, demonstrate extreme investor interest. Despite the coin's opaqueness regarding certain details, the excitement surrounding the coin currently is offering a reprieve from the bitcoin bear market most of the market is currently experiencing.
This could change soon, however. The news about Facebook allowing outside organizations to mine its user data without the consent of the users may drive content creators and moderators away from Facebook and toward profit-sharing content platforms like Steemit.
"I feel like I'm in the Stone Age when I'm on Facebook or Twitter," David Kadavy, an American writer posting on Steemit, said to the Toronto Star. "They have no value without what you're contributing to them. If Facebook doesn't respond to this, things can change very quickly. They should be very concerned."
The Takeaway
Though altcoin investment is inherently risky, both EOS and Steem have some momentum in the market and may be attractive to some investors.
It is important that you realize the risks involved in engaging in any altcoin activity before investing. As always, due diligence is key.
Be the first to know what is going on in the altcoin market. Sign up for the Bitcoin Market Journal investor newsletter today!
Steemit is great, but the main difference between the two is: EOS is where you can build 100 variations of Steemit. Dan has already said he's working on a better version of Steemit to launch on EOS. While I enjoy Steemit, I'm looking forward to competition in this space.
EOS is set to make a move. Over $1.5 billion investments by Legacy Investors. It will not be sub $6.00 for long. Remember this post.
Excellent analysis Bitcoin-Journal. Much appreciated.
SirKnight!
Hi, i alway upvote u
U never upvote to me
Why...........?
Please compare Linux vs https://coindesk.com next... a similarly incoherent comparison.
didnt this exact article been posted before? cos i was wondering what does bmw and bananas have in common. what is the purpose of comparing eos and steem?
this was good info, i have resteemed and shared on twitter as well.
You can assume the EOS market CAP at over 5 Billion US dollar at the end of distribution period, assuming the current price. There's going to be a billion tokens distributed on June 1st and over 5 dollars each.
Twitter has a ton of value while Facebook is worthless. Steemit has a LONG way to go before it reaches Twitter's level of usefulness.
WARNING - The message you received from @ironyan is a CONFIRMED SCAM!
DO NOT FOLLOW any instruction and DO NOT CLICK on any link in the comment!
For more information, read this post: https://steemit.com/steemit/@arcange/phishing-site-reported-steemij-dot-tk
Please consider to upvote this warning if you find my work to protect you and the platform valuable. Your support is welcome!
Steem will not attract investment like EOS. It is an anti-market coin. It measures value by, well, value. The Proof of Brain concept, that valuation of what people find valuable, is an anathema to the "market".
If Steem succeeds it will not be due to big investment. Success, if it happens, will be due to a common market of ideas and dedicated community.
Steem is outside the corporate box.
If I had to guess, I'd guess the media peeps will accept and try to pilfer the value out of steem before shifting to some mature bankster aping of the Steem blockchain.
Very informative and good explanation.
Hi your article is very good.
i want to translate it and share your idea with people around me.
am from China, Beijing.
hope can get your early response discuss about this.
Thank you so much for your sharing.
Congratulations @bitcoin-journal! You received a personal award!
Click here to view your Board
Congratulations @bitcoin-journal! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Congratulations @bitcoin-journal! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @hivebuzz: