Last three months have been pretty hectic, I was involved in the EOS launch and I can tell you from my own experience on different chains that launching a new chain tends to be a rather rocky path. Nonetheless, as time passes and the eosio software gets more stable, I have more time to focus again on my beloved Steem platform and my Steemit Blog.
Coming from a Bitshares background I am happy to see a lot of “Graphene” developers that are actively participating in Bitshares, Steem and now EOS. I believe there is room to cooperate and build applications amongst these three blockchains. However, I have also come across a sterile debate regarding the development of the new called Steem2.0, a Dapp built on EOS that still has no name of its own but its meant to compete with steemit.com.
Can Steemit work on EOS?
Now before answering this question, I think its important to mark the differences between what would be a Smart-Contract on the EOS blockchain and the Steem Blockchain that was specifically built to be a Social Network (even though there are other uses for it too). What this means is that Steem´s inflation and features were specially design to reward and promote use of the social network and if something is not working as expected, then Steemit Inc can easily propose a fork to modify the whole thing, like they have done just recently with the introduction of Resource Credits. While in EOS, the Steem2.0 Smart Contract will be one of many Dapps that can be deployed on their “decentralized operating system”.
A good example of this is the multiple permission system built-in on Steem that adds a Posting and a Memo Key, which make a better and safer user experience for a social Network, while in EOS, unless the software changes, people would need to either add their private keys to a website or use a wallet extension like Scatter.
In this sense, even though a Steemit2.0 can be perfectly created on EOS, it will have very different features from Steemit, which will ultimately make it a different product. Similar to how Twitter and Facebook are different, I don't see Steemit and Steemit2.0 directly competing.
Block One will also need to work very hard at making Steemit2.0 very user friendly to onboard as many users or more than what Steemit has done in the this past 2 years.
Steem will live on
Blockchains can have very different use cases and competition is nothing but a good thing. Nevertheless, Steem has a Blockchain that works great for Social Networks, many have already tried on Ethereum to copy steemit and have failed. It is still too early to say, but it is my opinion that Steemit will live on as the number 1 Blockchain Social Network for quite some time.
Thank you for sharing your insights @chitty
Offchain
While Velocity has stabilized, the core issue, in my opinion, is off chain.
The social network
Is Steemit, the first social network which is not social. Are the gatekeepers interested in people on Steemit?The blockchain is social but, are the custodians of the chain social?
As the @DenmarkGuy says, "Blockchain is not exempt from human nature."
Steemit is the best social media platform.
Posted using Partiko Android
It is now, for sure!
Great perspective from someone with good insight! I love the thought of EOS but have also found it difficult to onboard given my nontechnical background. This could also be a barrier to entry for any DApp looking to compete and even gain adoption at this point. I have a similar perspective in that competition is good as it provides for evolution to improve and always seek competitive advantages. I also think that the social arena is so broad that there is certainly space for more than one player.
Your familiarity of the three blockchains brings a great perspective to your analysis for me. Thanks for sharing.
Thank you for reading!
@chitty - Sir I'm really happy, you're the only person who explained the situation perfectly... Thank you...
+W+
You got a 24.28% upvote from @brupvoter courtesy of @hcf27!
@hcf27 purchased a 38.74% vote from @promobot on this post.
*If you disagree with the reward or content of this post you can purchase a reversal of this vote by using our curation interface http://promovotes.com
You got a 28.72% upvote from @dailyupvotes courtesy of @hcf27!