RE: Ridiculous MySpace Comparison: Lego Your Ego
I think that this analogy makes things even worse, because there are so many Lego sets out there and the Steem blockchain is way behind in many aspects. Instant transaction times with no fees and tokenization (SMTs) are actually a standard with other chainOS like Tron.
Steem wants to position itself as the first and best Lego, while in reality, they are behind in development. The only advantage - whether we like it or not - are actually the active userbase of Steemit (or what is left of it) and not the blockchain itself.
Technology-wise the Steem blockchain can only surprise people either new to crypto or coming from a slow and/or expensive "currency-only" crypto like old BTC - for them, Steem will be a revelation, but for experienced people in the blockchain sphere, I really doubt that...
Real users and community are everything.
Like Bitcoin was "good enough" to be workable digital money, Steem was the first "good enough" blockchain lego set.
Steem has by far the largest community and number of active users doing legitimate things of any blockchain platform. See https://www.stateofthedapps.com/rankings?sort=dau&order=desc
Steemit is now a clear number 1 with 8 times the users of the best ETH dApp. EOS is basically just a gambling platform which is not sustainable.
See more details here https://steempeak.com/stateofthedapps/@apshamilton/half-of-top-10-dapps-steem-smashes-ethereum-and-eos-for-legal-dapps-and-why-eos-is-in-big-trouble
Yeah, as I said, active users are the true advantage - but the Steem blockchain itself is just one of many Legos out there. I also think that chains won't survive if they just deliver gambling dapps, but this is, unfortunately, the first and seemingly most profitable use case. (Like porn was a huge selling factor for the internet itself)
That's why developers will focus on it first. I'm not a gambler myself, but profit-sharing on dapps is actually a huge advantage and novelty in this field. Tron has more transactions than the top 5 cryptos combined each day and yes, over 50% at the moment is also about gambling. This development won't stop there and there will be many more other and valuable content coming over the next months.
You can’t build a community based on gambling. If you already have a big community like Steem you can tolerate a bit of gambling but if it takes over your platform it’s bad news.
It provides no stickiness or commitment to the platform. Gamblers will very quickly move on to the next gambling platform.
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That's true, but I wouldn't say, that the blockchains were really looking for gambling dapp developers - it is the other way round... I'm also the content guy and prefer dapps that provide value content, but you can't blame the blockchains for developers and their work. You can't blame "the internet" for porn, memes and spam, that still are over 50% of its traffic 😉I'm also no big fan of EOS anymore and never have owned a huge bag, but for other reasons....
About the community I agree, but I wouldn't call the Steemit community "big" anymore - it has been some months ago, but now after all the troubles it remembers me more of a ghost town. Let's hope this will change, but I still think, that Justin Sun should buy Steemit and let it run on Tron - I don't have much hope that STINC will survive under the current situation and leadership.
I'm new to blockchain development and like you said Steem feels like a revelation to me. I think we can build a lot of stuff on top of the current Steem blockchain without any hard-forks. For example, have a look at the vapor-chain protocol which allows to create tokens without any modifications to the blockchain.
Yeah, Tron is cool, sure. They have a lot of money and they are doing a lot of development. Justin Sun is also a greedy shill and the governance of Tron serves mega-corporation block producers. At Steem, anyone with coins controls 90% of the inflation rate of those coins. The other 10% is basically payment for Resource Credits.
Tron pre-mined everything and no more new coins will be created. Their economy is completely different than ours. There is no competition here. During the next bull run we will be up to our ears in scaling problems just like every other coin.
I'll also be writing a post very soon about how redundant coins still have value. Litecoin is the perfect example. Even though Litecoin doesn't really do anything that Bitcoin can't do, it will still retain value. None of the new Lego sets are going to be so good that they stop the old ones from being played with. In addition, many apps will be modular and be connected to multiple blockchains. The end-user might not even know or care about which chain they are on.
You might want to check out my steem-state project which allows arbitrary DApps on Steem which are much more scalable and quick than other existing DApp platforms such as Ethereum.