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RE: Help! What's the advantage of Blockchain-driven Steemit over e.g. Reddit?
It is more about what the Blockchain CANNOT do, than what it can.
The Blockchain(eg Steem) cannot hide its decisions or decision-making process from the public.
If Steem owners want to make large changes to Steem, they will need to back the decision with large amounts of publicly identifiable Steem(shares).
If Reddit owners want to make large changes to Reddit, they only need own the asset known as reddit.com domain name.
(and perhaps the ssl token that goes with that; but SteemIt.com must own this as well as large amounts of Steem/Power)
Thank you for that answer. So basically, this means that Steemit is like a cooperative, where users make decisions upon changes being made to the platform?
For the most part... yes, the owners do have some need to run things by the community before they can implement without issue.
Granted, if you check out https://steemwhales.com/ you will see the owners(eg. steemit) control most shares anyways....
Side note: in the event Steem owners disagree a blockchain fork will be imminent, the outcome will be a new duplicate of Steem like the Russian version: https://golos.io/
I actually have an account with them...
https://golos.io/@luke490/transfers