Web 3.0 is the start of global decentralized data banks. Owning your data is the future of the internet. (My Content Is Not Financial Advice, Crypto is a highly risky asset)
Web 3.0 will transform from users with no authority, to stake based users. You will own a tiny piece of every website you use in the future. User incentives will be aligned and a natural UBI will be formed by doing what we do every day anyway.
The content creators that leverage their following using Web 3.0 tools will become the next powerhouses of social media.
- Content creators in Web 2.0 are RENTERS.
- Content creators in Web 3.0 are OWNERS.
Try seeing how much leverage you have as a renter over your landlord.
As the internet moves into blockchain databases, old data that is valued will be transferred over. These new databases that are the foundation of the new internet will need to be filtered from spam. 99% of the internet is spam, the handful of websites most people use do the curating for the content you see daily.
Sure, you see content from who you follow, and are friends with, but for the most part, Youtube, Twitter, Google curate what they want you to see. With Web 3.0, all that changes. With decentralized distributed database comes decentralized stake-based curation.
The future you are not the customer, you are a co-owner. Tokens are nothing more than measurement rights to space on a blockchain, like an acre is nothing more than a measurement of a piece of land.
Blockchains will need to have built-in decentralized, self-sustaining curation incentives to separate the bloat from the value.
On the Steem blockchain, when you buy a Steem "token", you are buying cryptographic digital rights to space on-chain, you can post whatever content you want, and no one can take that off the chain.
What is Steem?
Steem is a high-performance blockchain with very fast, feeless transactions utilizing Delegated Proof of Stake (DPOS.).
Steem is an immutable, censorship-resistant database that stores text-based data with built-in curation incentives called Proof of Brain (PoB) - Proof of Brain is going to be a big thing, decentralized content curation & being paid to curate will be a big thing.
The Steem blockchain rewards with the liquid decentralized cryptocurrency called Steem, Steem Power & Steem Backed Dollar, to its users utilizing the Proof of Brain protocol, and has given out almost $100,000,000 to date!
On August 27th, 2019, history will be made.
The most advanced blockchain in the world will undergo the biggest upgrade in its history. The Steem blockchain will be forever transformed and is already being dubbed "New Steem”. August 27th, New Steem will be unveiled!
I'm not sure if you have heard all of the buzz surrounding New Steem…
Yahoo Finance - Steemit Announces Major Blockchain Upgrade
https://finance.yahoo.com/news/steemit-announces-major-blockchain-upgrade-190300686.html
https://www.coindesk.com/steemit-to-automate-development-funding-with-new-dao?
Ihodl - Steemit to Experience Hard Fork on August 27
https://ihodl.com/topnews/2019-08-14/steemit-experience-hard-fork-august-27/
CryptoNinjas - Steemit prepares for major blockchain upgrade
https://www.cryptoninjas.net/2019/08/14/steemit-prepares-for-major-blockchain-upgrade-with-aug-27-hardfork/
Micky News - Steemit to distribute $2 million dollars to users following major upgrade
https://micky.com.au/steemit-to-distribute-two-million-dollars-to-users-following-major-upgrade/
Cryptopolitan - Steemit blockchain hard fork update approaching fast
https://www.cryptopolitan.com/steemit-blockchain-hard-fork-update/
Just to list a few media outlets covering the news.
New STEEM has come full circle.
Source: https://steemit.com/supersaiyan/@acidyo/super-saiyan-steem
On New Steem, the Proof of Brain protocol is being completely revamped & optimized from the ground up with a community-driven blueprint. Being paid to curate will be a big thing on Steem!
The Steem Decentralized Autonomous Organization (DAO) makes the most decentralized community more self-sufficient.
What I look for in a project:
Can it scale for Web 3.0?
Steem is now an efficient database due to the upgrade called MIRA - (Multi-Index RocksDB Adapter) - MIRA specifically optimized for random read performance on modern commodity hard drives.
MIRA is a big deal because it lets data on Steem to be stored on a regular commodity hard drives, not in RAM, making it vastly more efficient to store data on Steem then any other blockchain.
With the upgrades to Steem recently, the cost of running a full node has been reduced by over eighty percent. Moreover, optimizations are being done daily. What this means to you, the end user, is more security via a more decentralized network.
On Steem, another breakthrough was a revolutionary scaling solution called Resource Credits (RCs) - which allocate resources to token hodlers that are generated over time based on the amount of Steem Power (SP) you hodl. To perform actions on the blockchain, each user must have a tiny amount of RCs, that get burned during use but slowly regenerate over time.
Legally speaking, Steem can scale, which is a big scaling option most people overlook. Libra is having a hard time getting off the ground, not due to technical hurdles, but do to legal challenges.
Steem had no ICO (no SEC threat) and have been around since mid-2016. Having no ICO has allowed Steem to operate care free, even reaching the top 1,000 in website rankings on Alexa and has had over 1,000,000 accounts created (each account costing valuable resources).
How can it be used? (value proposition)
Steem is censorship-resistant digital real estate that gives you regenerative resources 🌱 (use it or lose it) in an age where centralized social media is doing the greatest content creator purge, we have ever seen.
Steem is an open-source immutable database which distributes resources in a decentralized way. Once you have a little bit of Steem, you own a piece of stake in the entire system.
With your Steem resources, you can post content that can never be deleted, or build apps that can never be taken down. On centralized websites like Facebook, they own your data and can ban you anytime. HostGator can take down your website anytime. No one can remove your Steem account.
So, I could buy SP, delegate my RCs to new users, and use the SP to upvote the users. I do not need to worry about making my own token as it takes a few clicks with Steem-Engine. I do not need to find a community because Steem has several already. As an example, the Tribe "SteemLeo," an investing community, was created recently on Steem and had instant traction. Other Tribes like Sports Talk Social and STEMgeeks are emerging with great success.
The future is tokenized tags.
Each tag with several different front ends and a variety of different tokens. IE: Car tag may have Lambo = Lambo token, Prius = Prius token, etc. Each with their own front end and communities, both public and private. From there, sub-communities will form like: Car - Racing - Lambo - Bob's Lambo Club, etc. However, to use/buidl any of these things on the robust immutable public Steem blockchain, you will need valuable resource credits. 🚀
There are only a few public blockchains built for web 3.0, and among those, there is a tiny fraction that you can buidl web 3.0 apps today. Steem is on the top of my list when it comes to undervalued projects with a great use case, now, not tomorrow, now.
Steem has the most developed applications that are Web 3.0 ready.
Applications like blogging on Steemit or digital card game Splinterlands - Collect, Trade, Battle! to a full blown censorship resistant YouTube alternative called 3speak.online. All of these are Web 3.0 apps that are built today that you can start enjoying.
Skate to where the puck is heading, and that puck is heading straight for immutable public blockchains that are Web 3.0 ready. I believe Steem is the best positioned for the future of the internet and that is why I put my cash where my mouth is and invested in Steem.
This post is a broader initiative to spread awareness about Steem. Feel free to join my Quora Space: “The Steemian Roundup” https://www.quora.com/q/otycmrjbbhahuqae if you wish to share your Steem content on Quora. The main goal of the Quora Space is marketing for Steem.
Im looking at WANchain at the moment. It is basically going to create an internet of blockchains. Everyones chains past, present and future can interact and i do kind of see as like internet 3.0. Each blockchain is running an intranet at the moment but wan can bring it all together into an internet of chains. Wan chain could be the next huge coin. It touching on Proof of stake as well as interoperability. Both are the future of crypto and Wan has a great team of hard working Developers. Its a serious project with alot of potential.
Check out Matic Network
wanchain doesn't come near on Steem has done. Steem is I think the most decentralised blockchain comparing in other crypto projects because of how the distribution of stake in community. Wanchain is centralised unlike #steem right now but maybe who knows if someday it will become decentralised if more people adapt it.
Steem was massively unfairly distributed and mined by insiders in the early days. It is incredibly centralised, its getting better as the power becomes diluted lets just hope nobody spits any dummies or just doesn't care anymore.
Steem and Matic Network
About time Steem got some publicity! Ready for hardfork21! 🚀 😎 🤑
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I think Steem is a crypto coin that is very appropriate for us to invest in the future. For me who do not have capital in the form of money that can get a lot of steem easily through posting on this steemit platform. And lots of dapps here that can produce steem.
Great article @theycallmedan! I agree steem is very undervalued for what it's worth and you are helping spread awareness.
You're definitely emphasising the great utilities that comes with Steem. In my opinion these are most of the impossible features that comes with Steem and I definitely think it should count for a reason for onoboarding or main reason why people should consider them.now newly we have the opportunities that comes with the tribes, I definitely think that we're not even done yet.
I didn't realise the HF was getting this much attention. It is certainly deserved. It's now up to us to make it a great success.
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"Skate to where the puck is heading..."....doing Wayne Gretzky proud.
What is the best crypto to invest in? My opinion is obvious, it is STEEM. I hodl some others but with our recent breakthroughs on here, there is no other option for me. What fiat I scrape up goes into STEEM (or Steem based assets).
Cryptocurrency gives us ownership of our money. It is the first global app for this new iteration of the net.
The second global app, in my opinion, will be a Digital ID system which does, indeed, give us full ownership over our data.
If HF21 is that great as you predict, Steem price should have taken up already.
Since rewards for smaller accounts will be lower there will be even less incentive for authors than before. This means the quality overall will go down further and whales will curate the same shit posts as before as curation is now more important than content creation.
Buy steem and hold- we have reached the bottom and now we will go up
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Excellent summary of the potential and all the strengths of Steem. Also, thanks for sharing the links to all the media articles, it is good to know we are finally getting some coverage :) I am so excited about the New Steem and all the changes it will bring. I am really glad I have never powered down a single Steem. What a great time to be a SP hodler.
This is a masterpiece. It's been a long time since I read a concise and brilliant post that details the relevant and unique aspect of Steem. Thanks for sharing.
I am preparing for HF21, looking for curating services to make me more steem for power up.
This post has been included in the latest edition of The Steem News - a compilation of the key news stories on the Steem blockchain.
Great post and vision. Not many see this. Yet. But it's coming.
Reality actually.
Very nice article full of information, thanks 🤗
Dan that part makes sense a lot!
Thanks for promoting #STEEM on Quora because people are really missing out a lot not knowing about Steem.
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This article had given me a boost for my motivation for journey in steem. There's a lot of new thing I learnt from here that I don't know even I have been on steemit since 2018. Thanks.
Steem to the moon 🔥🔥
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Steem...
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nice. resteemed.
I hope this gives Steem the marketing it needs to gain new accounts. I really liked the analogy of renters and owners.
I am glad there are others here who know far far more then I do about all of this technology talk then I do. I try to follow and learn but damn it gets confusing sometimes.
So I will try by best to keep up but other wise focus on what I can control or what I do understand.
well i consider developments for any crypto coin or platform and seeing steem and binance only BUIDL during this bear market they are the gems in the market right now
Web 3.0 is exciting
This is one of the most powerful things I've read about steem and I'm glad I decided to "take the plunge" and buy up 1500SP which is going to be staked ASAP!
The platform has so much going for it now and with all these changes where you can get paid to support your favourite artists, musician, blogger, vlogger, heck, whatever content creator you are, surely it's only a matter of time before people come on over and wake up to smell the coffee!?
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i think it's greatly undervalued, hope it's on its way up now after new HF!
@theycallmedan, I always see through the Point Of Foundational Opportunity and in my opinion at this moment there is no opportunity like Steem because on this space many started from zero and today grown effectively and with that empowered there communities too. So, if particular space can give opportunity to everyone, what's better than that?
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