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RE: How does Steem work, anyway?
Very informative article @cmichel, even if some of it towards the end was above my head!
Aside from the technical, do you have any opinions on the adoption of Steemit as a major blogging platform? I've shared it with some friends but always have difficulty explaining the economics and computational side of how it works (actually how I found your article). I think Steemit has a lot of potential, but the complexities do hold it back from larger adoption.
Anyways, great post. I'm sure once I understand it better I'll be able to explain it in simple terms to others.
Now I'm one step closer :)
-J
I agree it gets quite technical, however that was kind of my intention :)
I find steem.center has some nice articles for beginners.
I also think Steemit has great potential. It's actually the only blockchain with an immediate use-case already IMO. All other blockchain projects are fun to play around with but I don't consistently come back to them, they're mostly for future speculation.
Of course, steem has its own issues, questionable behavior of some whales that feels like this platform is not really decentralized, big amount of low-quality posts trying to make a profit, but in general, it's working quite well. It'll be interesting to see where this is going :)