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RE: Why #Steemit prevails where Ethereum fails
The thing is, Ethereum's target market is not end users. Their target market is entrepreneurs who want to build awesome stuff on top of a secure, decentralized platform. Those entrepreneurs' target market is the end users.
Steem's target market is the end users.
Thanks for your response.
I would agree, but I have found that several of these businesses being built on ETH's decentralized network don't really need to be decentralized .
Trust isn't really an issue in many of these cases (generally because regulation acts as a crutch to insulate them from this security hole), and so the scaling trade-off is worse.
Decentralization appeals to a general minority of people who are either concerned with general data security and privacy, or live in intrusive countries (generally defined).
The only cases where it is truly required as far as I can see are in cases where the degree of intrusiveness by the state is high. So for online gambling in some parts of the US or in Singapore. And in most countries for the purchase of drugs.
But then ETH wouldn't be decentralized enough to protect the privacy of the users.
agree, targets are not the same, in fact ethereum is public decentralized blockchain-based financial computing platform and Steem is a blockchain-based social media platform., they dont push each other
I believe Ethereum was designed for those-initially, that have a greater level of computer savvy. Also, I believe the public has failed to distinguish between a crypto-token and a cryptocurrency. For this reason, the token has been purchased by many who have no affiliation with FinTech- to include myself.
A few minutes in the past, I read a post which predicted Ethereum will correct to $2-5.
Although a correction is imminent, I perceive Ethereum as an excellent investment for the future. Although, I will never over purchase it, I will preserve a few at all times.