How to evaluate a project or app built on steem

in #steem6 years ago (edited)

For several weeks I have been pondering on a "simple" way to evaluate the different apps and projects that are being built on this network. Honestly, it's not as simple as it appears. First of all, everyone has an opinion and your goals may not align with mine or someone else's.

Some people view this place as just another way to make money. Others may see it as a means to spread their idealogy, political opinions or just want everyone to know how awesom they are.


Source

There is one thing that we can agree on (I think)...In order to keep the lights on we need the ecosystem to be economically viable. In a nutshell what we need is for the price of our currency to rise (the cost of running the blockchain is another factor but it's not the main point of this article).

Following this train of thought I came up with a set a questions that we should ask ourselves or that should be asked of every app or project out there:

  1. Does it create demand for steem?
  2. Does it reduce the supply of steem?
  3. Does it contribute to the distribution of steem?
  4. Does it help the "system" grow in the future?

So far we have been relatively good in creating ways of extracting value from the network. Think about it, with some notable exceptions most of the "succesfull" frontends to the blockchain are just fancy faucets.


Source

I know, this topics have been discussed lately (in light of the current bear market). It's like we are stumbling upon some fundamental truth. Hey, no one said it was going to be easy (and hindsight is always 20/20).

Even if you feel that your a small fish and that your actions are just a drop in an ocean remember this:

"What is an ocean but a multitude of drops"

Sort:  

@onthewayout You have received a 100% upvote from @botreporter because this post did not use any bidbots and you have not used bidbots in the last 30 days!

Upvoting this comment will help keep this service running.

Congratulations @onthewayout! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got more than 1000 replies. Your next target is to reach 1250 replies.

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

Support SteemitBoard's project! Vote for its witness and get one more award!

Coin Marketplace

STEEM 0.18
TRX 0.15
JST 0.028
BTC 63597.74
ETH 2476.06
USDT 1.00
SBD 2.53