I read an interesting article by William Mougayar regarding the three stages of ICO projects and token sales. He breaks it down into three evolutionary phases where crypto coin initiatives can grow stronger or die. The most promising will graduate from one phase, to the next.
Darkness Phase
This is a lot of talk, but not much to show for it. Characterized with idea sharing and promotion to garner support.
- No demonstrable product yet. Protocol or app are not deployed yet
- White paper may still be in draft/revision modes
- Team focused on a heavily promoted token sale with little attention on the product itself
- No indication of users, customers, networks usage
- Lots of social and blogging about what will be done, as the main activity, active Slack channels
Transition Phase
A major milestone where Alpha/Beta products become tangible assets to highlight feasibility, scalability, and key capabilities. External testers and users begin providing crucial input to the continuous-improvement-cycle.
- A working demo available, not just a mock-up or simulation
- Testnet or pre-production deployment for scalability testing and tuning
- A growing list of early beta/test users, customers, and developers
- Announced release date and signs/regular-updates the team is making progress
- Increased & regular Github activity
Reality Phase
Only the elite make it this far. Product is in production with a growing base of users and supporting ecosystem. The value proposition becomes truly meaningful.
- In production with visible, credible and tangible signs of users and a supporting ecosystem
- Transaction volumes and other real metrics available
- Real customer and user growth, driving value to the market
The article, which I recommend reading, can be found here: https://medium.com/@wmougayar/the-reality-quadrant-in-ico-projects-and-token-sales-part-ii-fee324274f93
Steemit in the Ranks!
I am happy to report that the author has ranked Steemit with the elite. Accompanied by other names such as Bitcoin, Ethereum, Ripple, Dash, Storj, and Siacoin, Steemit is firmly in the Reality phase. With more users, growth, interaction, and transitions, our community and platform is growing.
Image Source: https://medium.com/@wmougayar/the-reality-quadrant-in-ico-projects-and-token-sales-part-ii-fee324274f93
I have read your post. I think it's very useful and useful. Because the post explains about a great project. And I rate that a new breakthrough. I am very interested in your post. Thanks @ned
One of the best steem posts I have read on this platform. I wish we could have a minsky analysis on top of this as well as google trends analysis versus USD price. :P
Interesting post indeed! The fact that Steemit is REALLY used is a very bullish sign. I remarked that I enjoy using Steemit a lot and that a very special community is born. This community has a very strong network effect, the network effect of a (more used) currency can't beat this. This made me power up to get more out of my time on Steemit and as an promising investment.
The interaction of the users is the backbone of Steemit.
Yes, I really see that as a strength compare to other alts
Great read.
You must be a wings fan to classify it among the 'elite' class. Its still fairly early in alpha...
Im also a wings holder/ forecaster so hopefully development produces.
I enjoy the whole bounty idea behind forecasting too, so can see the value in obtaining a nice stash and holding.
Which is similiar to holding and voting with steem
2 out of 11. Not bad.
Are you looking to increase that number Dan? :)
...perhaps going for Gold, Silver, and Bronze?
XD
Happy to note that Steem is in reality phase. There is still so much potential in Steem.
We are just at the beginning of a journey. One that we all get to determine where we go and for how long.
Your interest is in coins, my interest is in writing poems like these.
https://steemit.com/poetry/@positivesteem/father-s-day-poem-a-special-place-in-our-hearts-a-tribute-to-all-the-fathers-in-the-world
https://steemit.com/poetry/@positivesteem/bounty4love-longing-for-a-love-so-true
Do follow me for more
It will be increasingly important to have a viable product or service. I am increasingly convinced that "just another coin" concepts -no matter how cleverly marketed will die off in the coming years.
Value must be presented. Very soon, I think being just another log on the financial-currency fire will not be good enough.
Gotta be honest.. never touched Storj or Wings but I agree with the rest of the list.. Steems one of the few coins you can actually earn DO stuff with (like influence content).. thats what makes the project interesting.
I have been playing with Storj. I did a few posts on it. It has potential if the market latches on and they can prove value (security, responsiveness, data-confidence, and availability). Same is true with Sia.
I've held Sia off and on only because it has good volume.. I think Stratis is cool as well. Steem and Ethereum are cool because you can do stuff with both of them. I wish they had smart contracts when I was a kid - every keg party, gift or "tab" I had to pay would have been a smart contract.. Post the pictures on Steemit - earn some Steem. I love projects that actually accomplish some goal!
Thanks for sharing! Nice to see it that way... sometimes you just need to step back to get some perspective.
I agree with the four stages, and seeing Steem, Ethereum and Bitshares on the reality side makes me happy! Feel like I invested wisely :D
Thanks again for a great post!
Found this highly informative article through @ned, so thanks for that. Thanks to @mrosenquist as well. I am a newbie here, but I am certainly happy I joined Steem, looking forward to its amazing future! I must look into other cryptos!
Glad to have you as part of the community.
And happy to be here! I am really wanting to invest more in to steem, but its all new territory to me. =]
Thank you for posting, great article. Followed and upvoted! :)
Thanks. Followed in-turn.
Thanks for the info @mrosenquist. This is a great point of reference to see where each of the initiatives are in relation to each other. Being new to the world of blockchain and cryptocurrency, this kind of information is really valuable to my learning.
Thanks for the post @mrosenquist im starting in the cryptocoins world and all information is welcome for me thanks greta POST
Thank you for your good post. I am very pleased to read good posts in feeds.
Great POST! I have heard Steemit and Steem mentioned on youtube by channels that have nothing to do with cryptocurrency twice in the past four or five days. I see the #whalepower community growing by leaps and bounds every day. I am seeing new introduction posts from India and Korea and other countries coming into Steemit at a rapid pace, all positive growth signs. I hope to grow this community in Vietnam as much as I can and use crypto in my new business I'm developing at the moment. All positive growth signs. Just have to figure out the site more for myself first, just been a week but enjoying the learning curve!
Peace and happiness from Vietnam!
Steemit is definitely growing. Glad to have representation in Vietnam. Steem too will gain more strength as scale-ability issues begin to plague the big POW players, like bitcoin.
Yes, it will be an interesting road ahead!
very interesting article. I truly think that steemit has such a great future...
The good thing about ICOs is that you will be able to buy at the first price available and is very difficult that the coin fall down this price
Thank you for posting, great article. Followed and upvoted! :)
Thanks for the upvote and follow!
Sir Your working skill is brilliant.... Your post will be highly appreciated in the prospect of Steemit....I am glad to read this post....This will be helpful for us all...
Great article
Have just read your post and it has me 100% interested imeadiatley. Feel extremely lucky to have received this information at an early stage(before it goes main stream which I believe will happen) Would be extremely intrestrested in more info and can't wait to get started. Happy times to come will be happy to leave my opinions and thoughts and hope to be back in touch soon with with plenty of good news!🤤👍
I am @ijoel. In hard fork 19, you are one of first my nominatios, @ned. I support you
Now, I entered the school stage.Good luck with your good posts.I'm looking forward to working with you.
Thanks for the post. So much good information. I'm learning and this will help me very much!
Wow amazing
An interesting view into the Reality phase might be to break down "Reality" between tools and platforms for the community and applications for the end user. I suspect this would highlight the fact that Steemit is even more unique in the crypto environment. Tools and platforms can't be successful in the long run unless there are useful and widely adopted end user apps.