I don't know if it's an announcement or just an idea to put everything in order on STEEM but whatever it is, a few lines by @ned in a meetup event give me a new hope about STEEM. :)
If you have been on Trending tab lately, you may have gone through a wonderful post by @happymoneyman putting his thoughts over few changes STEEM gonna implement.
The best thing which IMO will be a game changer for STEEM is "One account, one vote", as @ned said -
With Steem we didn't quite find that was the case. To truly realize a future where cryptocurrency helps us identify great information we need to leverage not "stake-weighted" voting, but "account-based" voting. 1 person, 1 vote. It's much more democratic that way. That in combination with superlinear rewards curve.
Wait a minute, what does that mean?
Yes, finally they have admitted that "Stake-based voting" is a huge problem for STEEM, and users demand change.
The "Stake Based Voting" is the reason we have circle jerkers jerking around the rich people.
Yes the circle-jerking will continue but around talented content creators.
It's the reason we have bot problems on this platform.
Only if one vote, one account has been in place from the starting, people wouldn't have been wasting time commenting on the post of whales rather they would have spent more time curating good content.
So how will Steem work without "Staked Based Voting"?
One account, one vote 'imo' will work more like the Reddit, just the curators who find the good content will earn more money based on how fast they upvotes a good content.
So Should I stop hoarding STEEM to increase my influence on STEEMIT?
No way, STEEM you are holding will help you earn passive income, when SMTs are out they would be needing bandwidth and delegation from fellow STEEMIANS. You could earn more STEEM by delegating to them.
SMTs token will be airdropped on the basis of STEEM you are holding in your wallet, so hey lots of free money, keep on hoarding up.
What will happen to Upvote Bots?
They need to die and the best way to kill them is to make Stake based Voting obsolete. If stake based voting becomes obsolete people will need to find some other sources of earning STEEM which would be SMTs.
One Account, One Vote Kills not two but seven birds with a single stone.
Solves SMTs bandwidth issues - We know projects will be needing a lot of STEEM for bandwidth, STEEM which whales are delegating to upvote bots need to be delegated need to SMTs project, it would provide required bandwidth for new SMTs projects and new users.
Limits spamming problems - not many people will try spamming the network as a comment for comment and follow for follow won't be such a profitable thing to do(it isn't much now as well, but the mindset of users may change).
Anyways only good post will get attention so people will be going to get more involved in curating others content rather than publishing their own posts.
The Bandwidth for users may be limited as people would be more interested in earning passive income delegating to SMTs instead of commenting and posting.
Trending Page - Yes, it's been much of the problem for people around. Mostly posts into trending are cause of upvote bots. One account, one vote and high curation rewards might change the trending tab.
SMTs whales influence - Since launching of SMTs whitepaper I wasn't much convinced about the dynamics of whales influence on SMTs. There may be an equal distribution in terms of airdrops but people will still try to hoard tokens for their increasing their influence in SMT projects. One vote, one account could make it obsolete though I still have doubts about the supply and demand mechanism of such tokens. I assume the supply and demand will work on Token Burnings.
Talent ain't about money in your wallet - I am not a good writer, there are better writers than me still sometimes I get much visibility using upvote bots. The focus on curation rewards may change the focus of earning just by posting content and might give a push to some talented people on STEEM.
Finally @curie, @qurator, @helpie, @thetrufflepig- A bright future for the users working for them, most of the users will trail upvotes of such projects to earn the curation rewards. These organisation will increase many-folds.
10 (Content Creators): 90 (Readers) - Everyone could not just keep on creating content, we need readers as well. The high curation reward might help grow the reader's strength on STEEM.
Every social network follows almost the same ratio and the change which STEEM is planning to bring will help to maintain the same ratio.
Challenges - because every development comes with its own cost and challenges.
People will start creating many accounts to upvote their own content. The projects like anon-steem and others need to be shut down and we would need some back-end tweak to forbid people creating an account (I don't know if that is technically possible).
Curation bots and favouritism - It would be extremely bad if people start trailing the whales like berryjanfiled and sweeetyjj in order to earn curation rewards instead of trailing their upvotes to @curie or other curation projects.
Is their anyway to stop the curation trail itself? just curious
One vote, one account could change how we see STEEM today and it's the solution to many problems as described. Every development creates its own set of problem and it would be good to see how STEEM tackles the new problems emerging cause of one vote, one account.