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RE: Help! What's the advantage of Blockchain-driven Steemit over e.g. Reddit?

in #steemit • 7 years ago (edited)

It is more about what the Blockchain CANNOT do, than what it can.
The Blockchain(eg Steem) cannot hide its decisions or decision-making process from the public.

  • If Steem owners want to make large changes to Steem, they will need to back the decision with large amounts of publicly identifiable Steem(shares).

  • If Reddit owners want to make large changes to Reddit, they only need own the asset known as reddit.com domain name.
    (and perhaps the ssl token that goes with that; but SteemIt.com must own this as well as large amounts of Steem/Power)

7 years ago in #steemit by
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     7 years ago  

    Thank you for that answer. So basically, this means that Steemit is like a cooperative, where users make decisions upon changes being made to the platform?

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     7 years ago  

    For the most part... yes, the owners do have some need to run things by the community before they can implement without issue.


    I actually have an account with them...
    Granted, if you check out https://steemwhales.com/ you will see the owners(eg. steemit) control most shares anyways.... Side note: in the event Steem owners disagree a blockchain fork will be imminent, the outcome will be a new duplicate of Steem like the Russian version: https://golos.io/ https://golos.io/@luke490/transfers