Steemit is Gaining Competition

Minds.com has been gaining traction slowly over the last year. Yesterday, 3/27/2018, they released a major update to their platform which backs it's token system with Etherium cryptocurrency. You can find more detail in their released whitepaper document.

Along with a face-lift to the general site, their token system that previously was only used to boost posts and had no convertible monetary value has now been swapped out for a system that is linked to Etherium. Like steemit, nearly everything you do is rewarded in some way with cryptocurrency. Here are some of the current ways to earn.

For now, Alexa website statistics still ranks Steemit as having an edge, #996 in Global Rank and #1,157 in the US compared to Minds #12,489 Global Rank and #4492 US Rank, but Minds is arguably simpler to understand for the average Grandma while also not requiring any waiting period to create an account. (There are plenty of stories of people waiting weeks to get a steemit account)

Competition is good and competition makes things better, so I'm happy to see another open platform utilize a crypto blockchain to enforce freedoms for the creators and consumers of content.