Are you sure Steem will not be using EOS when EOS is released? I'm not sure which is why I used the EOS tag. I don't see why the Steem developers wouldn't use EOS. I would like more clarification from the developers but I expect Steem to use EOS.
It's actually much more safe, valuable, effective to build these on Steem than any general platform, eos or anything else. I wouldn't dare code these on a general platform and purport they would work very well nor that they could have the same economic benefits to the core token. Ultimately, the idea of general purpose blockchains will also mean meta Proof of Brain tokens are limited by bad bandwidth or transaction pricing and other economic pitfalls, and in the end, application-specific blockchains will over-win opportunities like layered Proof of Brain tokens, such as SMTs.
Check out these sections of the SMT whitepaper. It mentions Ethereum, and the drawbacks of eos will apply just the same:
What Makes SMTs Better Suited to Application-Specific Blockchains, such
as Steem, than Application-General Blockchains, such as Ethereum? 53
SMTs are Safer and More Cost Effective in Application-Specific Blockchain Environments
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
SMTs on Steem have Aligned Proof-of-Brain Incentives with the Core Token . 54
SMTs on Steem Have Transaction Pricing that Contributes to a Quality User
Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain that has Scaling Processes Programmed to a
Specialized Set of Applications . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain with Content Management System (CMS)
Primitives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
I'm surprised you swallowed ned's assertion that SMT's will work better on Steem and that EOS will have similar drawbacks to Ethereum in this regard. Is ned qualified to make that claim? EOS isn't built yet for starters.
...i think it is hard and I could most certainly be wrong about a great many things. However, only part of my defense is that EOS is not built.
I'm not sure what you mean by, nor what your criticism is of EOS being general purpose in handling of pricing. Please could you elaborate?
I think you mean that EOS's economic model will be difficult to predict and at risk of instability if dapp tokens and sub-tokens have too much latitude in terms of configuration.
Even if that were the case, I would rather build complexity and scope for flexibility onto a network with a better core token distribution. I think that is a far greater issue and risk to the economic incentives governing behaviour and stability than being general purpose. With a more solid foundation, tolerances for dapps and sub-tokens will be far easier to establish and adjust. Not only that, the relationship between the layers and the flow of value will be more distinct and stable with a broader distribution.
I accept that it is difficult to distinguish between these projects on what they say they will be able to do. However, when I look at where each project is today, the projects that have been delivered before by the chief architects and the current management teams, EOS stands out by a mile.
The fact that EOS is not built and has no community (no real network effect) is the reason why for me I'm more interested in Steem. The other fact is, there is Cardano, there is Tezos, there is Tauchain, there is Enigma, and perhaps some others I forgot to mention all which will be capable of the same as EOS theoretically but which have chosen different design philosophies. We do not know which of these will be market dominant in the future.
Steem in my opinion is almost a sure thing at this point. The number of users are high, over 200,000, I don't recall exact numbers but higher than any other platform in crypto, and this translates into Metcalfe's law which translates into actual wealth of the network.
The only thing missing in my opinion is the technical mechanisms to maximize utility. SMTs help with this, and I think they can expand on that base to add more and better features before EOS can. EOS may have a technical advantage but that doesn't make me want to buy the token.
I think there is quite a large community forming around EOS, but we don't need to argue that point, I accept that EOS has not yet launched (though a development community has certainly formed and is engaging and building.)
Tezos at this point, given it's legal issues would seem to be a very bad bet.
I know nothing of Enigma yet.
Tauchain looks very interesting, I looked at it based on your recommendation actually. However, It seems a very long way off of delivering.
Cardano I see as an interesting alternative, however, I'm put off by Charles Hoskinson's salesman-like manner, arrogance and seeming failure to credit anyone's work in crypto but his own or his allies.
In my opinion, competition is distinctly thin on the ground.
Steem is doing well considering, but without addressing the token's distribution and unseemly economic incentives, I don't think it will be much competition at all for the next generation of social media dapps. People with smaller stakes will not be loyal to an abusive and unfair platform. If that situation was decisively addressed however, that would be a totally different matter.
Enigma has a large community forming around it as well and the brain power to match EOS. The only thing EOS has over Enigma is Dan Larimer. I do not think EOS has anything over Cardano.
This is a lot more competitive than you realize. It's not just community size but the effectiveness of the members. Sometimes a smaller yet more effective community makes a bigger impact.
I understand Charles Hoskinson is controversial. Dan Larimer is also controversial. This doesn't change the fact that both are extremely effective at what they do. Enigma has heavyweights from academia, from MIT, from Harvard, so a lot of brain power, but not a lot of experience doing crypto specific projects. This is to say that if they can get over the initial technical hurdles then they will be a force and hard to compete with in terms of brain power but they do not have a Dan Larimer or Charles Hoskinson.
I'm actually putting my chips in with Enigma because EOS isn't focusing on privacy. I think privacy is critical for the pursuit of happiness. People require a sense of privacy in order to even seek happiness is my hypothesis and since I know that, I think Enigma has a strategic advantage even if EOS and Cardano have great tech.
Hmmmm. You have privacy, in your thoughts, in your physical life and digitally, by your choice of community engagement. What Dan is attempting to solve is the privacy we think we need in order to secure life, liberty and property. But perhaps privacy is not what we need at all in this regard. Perhaps our sense of happiness and security will be better served by participating in a system where the incentives, rules and relationships secure us in which we are being open. It is an intriguing possibility. I guess we'll find out. Oh, I don't rate Charles anywhere near as highly as Dan and the experience Dan has, along with the massive team he's working with should not be underestimated. :)
It's be a real pleasure to chat with you dana-edwards. I wish you all possible success and I wish us all a brighter, fairer, more free future.
I agree that this is not well done, seeing the current steemit development is much more advanced, and a business opportunity in the future, however... For a small fish like me, maybe that's what we can do, powerdown, then the result buy upvote,
The steemit site in blockchain has grown so rapidly and has made economic changes in the world. However, is with the launch of SMT this can it favorable to the steem and if it's safe?
If EOS and SMT are to be profitable to STEEM then if it were safe, it would be something new for steemit.
But everything we returned again to the steemit developers how well for the development of steemit.
On EOS you'll be able to launch a social media dapp with communities and additional tokens built into the model. The critical point is that the EOS distribution will be far superior and therefore the starting point for the cascading economic affects will be far superior to Steem. Added to which, dapps built upon EOS will have better distributions further strengthening the economic balance. Token building and community supporting functions will work far better in this environment.
No one’s saying you can’t build things — just that Tokens that try to be like SMTs will simply be sub optimally priced, sub optimally safe, sub optimally aligned compared to app specific environment. As for distribution, I’m not seeing a clear reasoning. Wikipedia the Pareto Principle and be prepared for the distros you’ll really be dealing with.
Are you sure Steem will not be using EOS when EOS is released? I'm not sure which is why I used the EOS tag. I don't see why the Steem developers wouldn't use EOS. I would like more clarification from the developers but I expect Steem to use EOS.
It's actually much more safe, valuable, effective to build these on Steem than any general platform, eos or anything else. I wouldn't dare code these on a general platform and purport they would work very well nor that they could have the same economic benefits to the core token. Ultimately, the idea of general purpose blockchains will also mean meta Proof of Brain tokens are limited by bad bandwidth or transaction pricing and other economic pitfalls, and in the end, application-specific blockchains will over-win opportunities like layered Proof of Brain tokens, such as SMTs.
Check out these sections of the SMT whitepaper. It mentions Ethereum, and the drawbacks of eos will apply just the same:
What Makes SMTs Better Suited to Application-Specific Blockchains, such
as Steem, than Application-General Blockchains, such as Ethereum? 53
SMTs are Safer and More Cost Effective in Application-Specific Blockchain Environments
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
SMTs on Steem have Aligned Proof-of-Brain Incentives with the Core Token . 54
SMTs on Steem Have Transaction Pricing that Contributes to a Quality User
Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain that has Scaling Processes Programmed to a
Specialized Set of Applications . . . . . . . . . . . . . . . . . . . . . . . . 55
SMTs Benefit from a Blockchain with Content Management System (CMS)
Primitives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Thanks for addressing my question. I'll remove the EOS tag now.
I'm surprised you swallowed ned's assertion that SMT's will work better on Steem and that EOS will have similar drawbacks to Ethereum in this regard. Is ned qualified to make that claim? EOS isn't built yet for starters.
your defense is it’s not built..but it purports to be general purpose in handling of pricing..this isn’t hard
...i think it is hard and I could most certainly be wrong about a great many things. However, only part of my defense is that EOS is not built.
I'm not sure what you mean by, nor what your criticism is of EOS being general purpose in handling of pricing. Please could you elaborate?
I think you mean that EOS's economic model will be difficult to predict and at risk of instability if dapp tokens and sub-tokens have too much latitude in terms of configuration.
Even if that were the case, I would rather build complexity and scope for flexibility onto a network with a better core token distribution. I think that is a far greater issue and risk to the economic incentives governing behaviour and stability than being general purpose. With a more solid foundation, tolerances for dapps and sub-tokens will be far easier to establish and adjust. Not only that, the relationship between the layers and the flow of value will be more distinct and stable with a broader distribution.
Tell me what EOS can do which Tezos, Cardano, Tauchain, Enigma, and other upcoming technologies can't do? EOS has a lot of competition in my opinion.
I accept that it is difficult to distinguish between these projects on what they say they will be able to do. However, when I look at where each project is today, the projects that have been delivered before by the chief architects and the current management teams, EOS stands out by a mile.
The fact that EOS is not built and has no community (no real network effect) is the reason why for me I'm more interested in Steem. The other fact is, there is Cardano, there is Tezos, there is Tauchain, there is Enigma, and perhaps some others I forgot to mention all which will be capable of the same as EOS theoretically but which have chosen different design philosophies. We do not know which of these will be market dominant in the future.
Steem in my opinion is almost a sure thing at this point. The number of users are high, over 200,000, I don't recall exact numbers but higher than any other platform in crypto, and this translates into Metcalfe's law which translates into actual wealth of the network.
The only thing missing in my opinion is the technical mechanisms to maximize utility. SMTs help with this, and I think they can expand on that base to add more and better features before EOS can. EOS may have a technical advantage but that doesn't make me want to buy the token.
I think there is quite a large community forming around EOS, but we don't need to argue that point, I accept that EOS has not yet launched (though a development community has certainly formed and is engaging and building.)
Tezos at this point, given it's legal issues would seem to be a very bad bet.
I know nothing of Enigma yet.
Tauchain looks very interesting, I looked at it based on your recommendation actually. However, It seems a very long way off of delivering.
Cardano I see as an interesting alternative, however, I'm put off by Charles Hoskinson's salesman-like manner, arrogance and seeming failure to credit anyone's work in crypto but his own or his allies.
In my opinion, competition is distinctly thin on the ground.
Steem is doing well considering, but without addressing the token's distribution and unseemly economic incentives, I don't think it will be much competition at all for the next generation of social media dapps. People with smaller stakes will not be loyal to an abusive and unfair platform. If that situation was decisively addressed however, that would be a totally different matter.
Enigma has a large community forming around it as well and the brain power to match EOS. The only thing EOS has over Enigma is Dan Larimer. I do not think EOS has anything over Cardano.
This is a lot more competitive than you realize. It's not just community size but the effectiveness of the members. Sometimes a smaller yet more effective community makes a bigger impact.
I understand Charles Hoskinson is controversial. Dan Larimer is also controversial. This doesn't change the fact that both are extremely effective at what they do. Enigma has heavyweights from academia, from MIT, from Harvard, so a lot of brain power, but not a lot of experience doing crypto specific projects. This is to say that if they can get over the initial technical hurdles then they will be a force and hard to compete with in terms of brain power but they do not have a Dan Larimer or Charles Hoskinson.
I'm actually putting my chips in with Enigma because EOS isn't focusing on privacy. I think privacy is critical for the pursuit of happiness. People require a sense of privacy in order to even seek happiness is my hypothesis and since I know that, I think Enigma has a strategic advantage even if EOS and Cardano have great tech.
Hmmmm. You have privacy, in your thoughts, in your physical life and digitally, by your choice of community engagement. What Dan is attempting to solve is the privacy we think we need in order to secure life, liberty and property. But perhaps privacy is not what we need at all in this regard. Perhaps our sense of happiness and security will be better served by participating in a system where the incentives, rules and relationships secure us in which we are being open. It is an intriguing possibility. I guess we'll find out. Oh, I don't rate Charles anywhere near as highly as Dan and the experience Dan has, along with the massive team he's working with should not be underestimated. :)
It's be a real pleasure to chat with you dana-edwards. I wish you all possible success and I wish us all a brighter, fairer, more free future.
I agree that this is not well done, seeing the current steemit development is much more advanced, and a business opportunity in the future, however... For a small fish like me, maybe that's what we can do, powerdown, then the result buy upvote,
The steemit site in blockchain has grown so rapidly and has made economic changes in the world. However, is with the launch of SMT this can it favorable to the steem and if it's safe?
If EOS and SMT are to be profitable to STEEM then if it were safe, it would be something new for steemit.
But everything we returned again to the steemit developers how well for the development of steemit.
The boss laying down the F*** EOS knowledge.
Thank you very much for your explanstion.
On EOS you'll be able to launch a social media dapp with communities and additional tokens built into the model. The critical point is that the EOS distribution will be far superior and therefore the starting point for the cascading economic affects will be far superior to Steem. Added to which, dapps built upon EOS will have better distributions further strengthening the economic balance. Token building and community supporting functions will work far better in this environment.
No one’s saying you can’t build things — just that Tokens that try to be like SMTs will simply be sub optimally priced, sub optimally safe, sub optimally aligned compared to app specific environment. As for distribution, I’m not seeing a clear reasoning. Wikipedia the Pareto Principle and be prepared for the distros you’ll really be dealing with.