It wouldn't be adding any complexity, in fact we could remove some. Basically steemit.com would just run with a different coin paying creators. Steem would be reserved to pay witnesses, SP holders, and the SPS. The inflation rate on steem would be cut dramatically since it no longer is used for the steemit.com reward pool.
Steemit.com would be run with an SMT, or heck perhaps only SBD? Though the entire way that is structured would need to be reworked.
The reason it would function like this is to better align steem with its mission of being a base layer other apps are built upon. Currently we have part of steem's inflation going to one of its apps. No other apps, just one. It is weird when you think about it and it drags down the price of steem if that app does not do well.
Having steem be the base layer to thousands of businesses and apps running on top of it is likely the better solution to making steem relevant again, more akin to ethereum, just without the gas etc.
Inflation doesn't just go to one app. Busy, steempeak, partiko etc are equivalent apps to steemit.
I like your idea (I think), by the way. Although, I do have questions like @ura-soul did about just transferring problems with inflation from steem to the various SMTs.
Sort of. They are more like different UIs as opposed to different apps. They have the same economics and whatever is posted on one shows up on the others.
The problem with that is that the blockchain would grow as big as with Bitcoin so it would require multiple SSD disks just for the blockchain. No single SSD drive can handle that large amount of I/O. Both Bitcoin and Ethereum are I/O heavy.
Why is that?
Even if all apps on top of Steem blockchain would have own tokens, at some point those tokens must be converted back to Steem as no exchange will list all tokens. It will also attract low-quality content that adds "noise" to the blockchain, information that has no value to most users.
True, but look out our usage capacity right now...
https://blocktivity.info/
We have a lot of runway for these things and they are the only way a content community could work. The current setup of one reward pool funding every community isn't likely to work.
Blocktivity statistics don't tell the whole truth... What is important is the distribution level of the coins... In normal economy 90% of the currency is in possession of 10% of the total user base. In same manner, we should evaluate how much of the daily trading volume is by that same 10% of the users and how much of the new coins generated each day ends up to the same 10%.
The distribution level will be something each community/app can focus on. If they get it right, their token will do well, if they get it wrong, their coin will suffer. They can always adjust if needed. The important thing is that steem is the base coin with low inflation that benefits if any of the other apps/businesses built on top of it do well.
That pretty much implies Steemit itself would also need to have separate token or coin instead of using Steem Dollar or Steem... Maybe it will be Steem Power, maybe something completely new... The point is that the current system of having three separate tokens for one website is overkill.