Ethereum vs Steem. Help me Compare Please!
Hi there. I have a blockchain-based project which is too early to disclose, but I would be glad to get today some input from this community on my Ethereum vs Steem comparison.
I am inclined to launch my project on the Ethereum blockchain, but before making a choice, since I really like Steem, I would like some feedback/validation on the three key points listed below.
Please note that as I am not a developer, some of my points might be 100% wrong, or 100% obvious...just let me know :-)
Comparison points
Issuing Custom Assets
As far as I know, it is not possible/easy to issue custom assets on the Steem blockchain, while this is a well-established application on Ethereum.Visibility
For the time being, the Ethereum ecosystem is much more developed than Steem's. No Steem-related ICOs have been launched yet.Fees, transaction speed and scalability
Here Steem is best in class, with zero transaction fees.
Thanks for your feedback! The first point is probably the most important one for my project.
Why do you only consider steem and ethereum? Bitshares e.g. has similar features compared with steem (Ned and Dan created Bitshares) and isn't bound to the steemit application.
I don't know Bitshares very well. Also, to be very honest...I think I have a larger potential investor/user base in the Ethereum context than elsewhere...
why would you need your own currency if you can use Steem or SBD for instance ?
that's the first question you need to ask yourself
You can also consider issuing assets with other blockchain like ethereum or bitshares and connect it with Steem
it all depends on the project you want to build so it's relatively difficult to give feedback without specific idea on what you wanna build
Creating my own currency is related to the idea of setting up an ecosystem where the value of the internal currency is correlated with the performance and growth of the ecosystem itself.
As for your second point: it sounds intriguing (and obscure) to me...can you briefly explain what you mean by "connecting"? Thanks.
if Steem become fully open source, which is what @dan wanted before he left https://github.com/steemit/steem/pull/936 you'd be able to fork steem and create your own currency using the Steem blockchain code base & Dpos.
Now the only way you can have your own currency is with other blockchain, so if you can't accept the pros of using steem for your project (existing, solid and growing community, incentive to build your decentralized app with arbitrary rewards, etc.) this is obviously better to start it on bitshares or ethereum
you can have a look also on Openledger, regarding your ICO questions
about the hybrid chain part, (connecting) it all depends on your project, Steem can be used for several other reason than its currencies. As for account management on the blockchain, identity, votes, immutability, distributed content & censorship resistent, API, etc.
this is possible to build hybrid ecosystem but i cant give more detail
Hi! you should check out bitshares,i think you can issue custom assets there.For more info,check out user: @virtualgrowth
Issuing Custom Assets
Ethereum and Bitshares - yes
Visibility
Each has its own visibility and uses which you are looking into and will discover pros and cons of each with tools available for the different chains.
Fees, transaction speed and scalability
Here Steem is best in class, with zero transaction fees. - Yes Bitshares speed and scalability is proving good as well.
Ethereum has more Dapp possibilities with existing code however bitshares or STEEM could be used depending on your project possiblities.
Of course use what you understand and works for you
So matter of balancing out pros and cons of each for your project (and developers).
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