a new cryptocurrency which will overthrow steemit

in #blockchain7 years ago (edited)

Steemit is a kind of cryptocurrency system in which authors write or vote to get money, the money comes from investors' consensus that steemit is a transferable currency. In order to benefit from this blockchain based money system, people will have to register to steemit and this takes very long time and the most important thing of or, many people have achieved popularity in some other forum, blog sites so that they have to start from the scratch. Steemit has its own ecosystem, it has many off-site groups, organizations, so how much an article can get is somehow independent of its quality. This is understandable, since different forums/blogs have different policies and ways of survival.

Can you imagine that there is such a system which can provide API interface to the traditional bloggers can get their benefits from the votes of reader. The system would issue coins and provide token transfer functionality, the policies are to be defined by traditional website managers. If more and more generic websites use the APIs, the coins can obtain consensus and thus reinforce its position in the market.

This system will identify similar articles thus to reduce plagiarism, it will store authors' article titles, date, summaries into the underneath blockchain to guanrantee the original.

This is just a simple description of this system, if you know there is, please let me know, because I know people are developing a similar product to adapt existing websites to blockchain system to benefit more traditional bloggers who has already won their niches. It would be very difficult since you need to consider compatibility, throughput, security, and many many things.

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Steemit is presently enjoying the "first user advantage". In future, surely, there would be alternative competing platforms. Consequently, steemit must continue to innovate to remain relevant and competitive.

Nonetheless, I see a great future for steemit and its currency, Steem.

Thanks @chenlocus for sharing your insight.

My friend, a kind reminder here.
#cn tag is stand for Chinese.
However, no Chinese was detected in this article.
Please use wisely for your tag,thank you

sorry, 抱歉啦。

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