My Understanding of U Network (UUU)

U Network is claiming to be a Steem alternative that will fix Steem's bot problem. It's fundamental values are very similar to Steem's but main difference would be users need to spend UUU token called Sugars to upvote contents they like. If the content become popular, all the upvoters called Content Explorers get rewarded with UUU tokens based on when they voted for the content. So, basically content explorers are investing in good contents hoping that those will get increasingly popular. Explorers can also downvote like what we have on Steem, but they will get rewards if the content get many downvotes.

Another interesting thing is decentralized content moderation. Recently @utopian-io started something similar to this. Content Moderator of U Network will find and request to remove infringing contents. Those contents will be removed but authors can appeal by staking UUU token. Users will vote, if moderators get more votes author looses his/her stake, and users and moderators get rewards.

U Network may also have a referral system for promoting the platform. Each user can invite 3 others, after new account approval both new and existing user get UUU tokens. Also any user can share their contents of social media, if share contents get enough views, author will get some UUU tokens. Users can earn points for daily sign ins, social media shares, helping in dispute settlement, which they can use to upvote or downvote contents.

Users can pay Sugars to unlock skins and medals but there is always a 5% commission charged by the platform that goes back to the reward pool. There is paid subscription, q&a, pay to message services that influencers can setup and earn Sugars from subscribers.

Can it compete with Steem?

Yes, it can. But it has to overcome many hurdles and toughest of them is Network Effect. Steem will reach to 1 million users soon and that may double or triple until U Network launch.

Am I excited about it?

Yes, I am because healthy competition is good.

Will I use it?

Yes, I will. If I like it I may continue along with Steem.

Will I invest?

Not right now. I may purchase it after their testnet launch or may decided to wait till their mainnet launch.

U Network platform is not released yet. U Network Testnet could be released in this August, and main net could be released in the middle of next year. UUU Token can be bought right now on Bibox. You can check their website and read whitepaper for more information.