Don't Panic! You will get it too.
PalNet is a bit over a week old and the composition of stakeholders is still very fluid, with significant differences from a day to the next.
I'm not going to through at you a bunch of numbers, mainly because I think we are going to see major changes as the interface becomes more adopted and more time will pass.
What is best for you to understand is that you've got to separate yourself from what you learned on steemit.com about how the Steem economics works, about what whales and minnows are, about ways to earn STEEM etc.
Things are set up in a different way on PalNet and there is no direct correlation to how things happen on Steem.
I've seen people saying they don't understand how it all works, or who needed time to get it.
As everything new, people are picking it up at different paces. Or they might give up on trying, if they feel it's too damn complicated for them.
Don't panic if you don't get it! There are others like you. And when the news about PalNet snowballs and starts to be explained in different ways, by different people, with different backgrounds, it will become easier.
In the meantime, PalNet will change rapidly now at first. What is true today may be (slightly) changed next week. So expect that.
I remember when I joined Steem it took me about two weeks to understand pretty much anything. From mark down to reward pool, to SBD, payout window, witnesses etc.
You are in a much better position as a Steem user to understand PalNet than a new user to understand Steem. But still there is a learning curve. Or at least an adjusting curve.
First payouts started to come. But that's not the only way to get PALcoins. At 50% curation rewards, this is an interesting option, but probably only after the next PalNet release for people with small stakes. You can mine them or you can be active in PAL discord for them, for example:
Be a PAL and Steem on! ;)
With the recent announcement, I expect more critics to draw their swords and exercise their 'mandate'.
PALnet looks promising as compared to the current state of steem, may the changes come.
Its best advantage is that it can experiment with a totally different stake composition, which cannot be done on Steem.
Posted using Partiko Android
I think that I have got it how PALnet works, but they are planning new changes.... so, I will do it again after that... and after another one...
Life is continuous learning!
Oh yeah, Steem is one continuous learning curve. :)
Posted using Partiko Android
Never mind the how. I'm still suck at the why.
I know, technically, Steem-Engine is more centralized than Steem (not sure if PalNet has one server or the entire side-chain, but it doesn't have the infrastructure of Steem behind). But we don't really have SMTs, do we? That's one more reason why I am not selling any STEEM (Power).
Otherwise, earning additional tokens on top of STEEM (Power) and SBD, I don't see who could argue this is not a good idea.
The content discovery seems to work much better on PalNet than on Steemit.com, mostly because of the reset stakes.
Maybe because promotion makes sense, but this exact implementation can be imported back to steemit.com.
There are still things to fix. Quite a few of them. And I'm sure you would spot some too.
Hi @gadrian!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 3.785 which ranks you at #4502 across all Steem accounts.
Your rank has dropped 52 places in the last three days (old rank 4450).
In our last Algorithmic Curation Round, consisting of 184 contributions, your post is ranked at #115.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!