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How Does STEEM Compare? by inertia

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· @inertia ·
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How Does STEEM Compare?
Amanda B. Johnson posted a comparison of Zcash vs. Dash.  To me, it looks like STEEM is getting close to Dash, under Amanda's criteria.  And if the STEEM roadmap gets an update, it'll be at least on par with Dash.

#### Zcash vs. Dash: How Do They Compare Across the Board?
https://www.youtube.com/watch?v=591J9KcKgHM

---

# Governance

So far, STEEM has had a stellar implementation of Governance.  Witnesses have done a great job of protecting the platform.  Discussion of each change has even resulted in the precision excise of certain unfavorable features in past proposed hardforks, almost like a line-item veto.

While it could still be debated whether or not these vetos would have benefitted the platform, it was clear *what* the stakeholders wanted and didn't want.  The unpopular changes were removed, and the hardforks proceeded without a hitch.

In fact, theoretically, STEEM cannot even be forked into a "STEEM-Classic" chain like Zcash and Dash could.  Personally, I'm not privy to the exact mechanism that prevents this kind of fork.  But supposedly, it's resistant to the idea right in the protocol.

All this to say, STEEM has a very good Governance.  It's certainly not rudimentary like Zcash.  Personally, I think it's at least on par with Dash.  But if you include the fully threaded discussions on-chain, it should get two checkmarks.  But I'll stick to one, like Dash, because Dash can at least have the proposed changes on-chain with cryptographically provable votes by stakeholders, even if it doesn't have a fully threaded discussion directly on-chain like STEEM.

# Trajectory of Infrastructure

Over time, the STEEM infrastructure will expand and become even more decentralize.  [ChainBase](https://github.com/steemit/chainbase) alone will ensure this, and it is clearly defined as part of the STEEM roadmap.  The hardware requirements for ChainBase will drop so that more hardware can be dedicated to the platform.

Economic incentive is already built into the platform.  The advantage for STEEM over Dash is that STEEM witnesses do not personally require a huge stake to get started.  Stakeholders can vote for particular witnesses.

Unlike Dash, the STEEM witness nodes do personally not require locked up collateral.  There's still a collateral model, but its owned by the stakeholders who vote for the witnesses (via Delegated Proof of Stake).  They can change their vote at any time.  Witnesses that "go rogue" are risking an instant backlash from stakeholders.

STEEM is pool resistant since private keys are required for signing blocks.  A pool manager must take a risk that the keys will not fall into the wrong hands.

The roadmap for STEEM includes smart contracts.  One of the side-effects of implementing smart contracts is that mining will become more time-complexity-bound than it already is, since mining will only be allowed to take 10 times the smart-contract execution time, making ASIC and GPU mining completely pointless.

For the above reasons, the STEEM trajectory of infrastructure is at least on par with Dash.

# Independence of Development

STEEM development takes two distinct paths.  One path involves the announcement of projects in discussion threads.  These announcements pay from the reward pool by upvotes by stakeholders.

The other path involves running witness nodes.  Witnesses get paid to sign blocks.  If they power down, they can fund development of the platform.

These paths can even complement one another when bounties come online, so unlike the previous criteria, independence of development on STEEM is far beyond Dash.

# Privacy for User

There are murmurings of `zkSNARKs` being implemented on many blockchains other than Zcash.  Dash has hinted at it.  Ethereum has hinted at it.

There's no reason STEEM can't implement some kind of `zkSTEEM` solution.  But it's not officially on any published roadmap yet.

You can have privacy in STEEM now if you keep your identity a secret.  But that kind of pseudonymization is true for any cryptocurrency.

# Double-Spend Protection in Real Time

STEEM uses Graphene, which has a 3 second block time.  This really isn't an issue, especially since transactions are free.  On Dash, their "Instant Send" implementation costs extra.

# User Friendly at Protocol Level

Under Amanda's criteria, STEEM is already better than Dash in terms of being user-friendly.  Also, under her criteria, the roadmap can be considered.  But she also considers the usefulness of the currency.  Dash is already useful, being accepted at a myriad of locations.

So STEEM, being user-friendly but not accepted anywhere compared to Dash being accepted many places but not as user-friendly, Dash wins.

And the user-friendly roadmap for Dash is more impressive than STEEM's current "user-friendlyness".  And on this topic, the roadmap for STEEM hasn't been updated.

I think all STEEM has to do is define a roadmap to get a half checkmark in this area.

---

Using the above criteria, how does STEEM compare to Zcash and Dash?

# 6 Prediction Metrics for Long Term Success

This is Amanda's chart *except* for the STEEM column.  I added with what I believe are appropriate values based on her assertions.  I feel like this is how Amanda would evaluate STEEM, if she ever took a look at it.

| | Zcash | Dash | STEEM |
|:-:|:-:|:-:|:-:|
| Governance | 0.5 | 1 | 1 |
| T. of Infrastructure | 0.5 | 1 | 1 |
| I. of Development | 0.5 | 1 | 1 |
| Privacy | 1 | 0.5 | 0 |
| Double-Spend Protection | 0 | 1 | 1 |
| User Friendly in-Protocol | 0 | 0.5 | 0 |
| | 2.5 | 5 | 4 |

Remember, this is a comparison matrix defined by a Dash supporter.  Of course, STEEM currently has features that neither Zcash nor Dash will ever implement, like threaded blogging with a reward pool and a superior DPOS implementation.  Also, STEEM will likely have smart contracts.

I think the fundamentals of STEEM are impressive and will continue to improve.  An expanded set of metrics would undoubtedly reflect this.
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@steemitqa ·
Good read.
I couldn't agree more.
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@thecryptofiend · (edited)
I'm starting to question if this lady (in the video) is a robot her speech and mannerisms are a lot like computer speech and Max Headroom.  Also she gives the impression that she has no understanding of the words that are coming out of her mouth.
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@steemitqa ·
Something is off I agree.
👍  
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@thecryptofiend ·
It's the editing I think and if you have seen Max Headroom it has replicated it really well.  From what i understand reading autocue is really hard - it is a different skill from reading normally.  You have to read and perform like an actor at the same time and some people can't do it very easily which can result in a lot of takes to get it right.

I think the editing of this has created a strange kind of rythm which to some people (like me) just seems a bit off.
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@inertia ·
I don't see her as a robot.  Her speech is very precise, and I like that very much.
👍  
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@thecryptofiend · (edited)
I was joking.  The way they have edited it is reminiscent of Max Headroom which creates that robotic feel.  It's an 80s meme.  

Also I don't think it is precise.  It is quite clear she is just reading some kind of autocue and not even that well given the number of edits.  It makes it really hard to concentrate on the actual words due to the disjointed cadence that creates.

Also whoever wrote it was more interested in making themselves seem really clever instead of actually providing a clear explanation.
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@builderofcastles ·
She is real.  She does sound like that.  I have seen several interviews of her.
Even talking to a good interviewer, whom she is comfortable with, she is still stiff in her speech.
👍  
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@thecryptofiend ·
OK.  I think the editing doesn't help though.
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@diego24 ·
I think it is a bit difficult to compare Dash with Steem. Dash is intended for anonymous transactions. Steem not really. Of course, Steem could change this but I don't expect this to be on the Steem roadmap.

And I also think you have to not forget the huge amount of Steem that are available and that they are all going to the whales. And the longer time evolves, the more coins go to the whales. This makes Steem very unattractive for investors. Something really great has to come up out of the Steem's roadmap to make Steem attractive for investors.
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@teamsteem ·
I'll read your article later.

Why doesn't she mentioned Darpa is sponsoring Scash? Scash's website is the source of this information. It's link below. 

Also I've read some other interesting stuff about scash. 

https://blog.okturtles.com/2016/03/the-zcash-catch/

Amazon.com through an AWS in Education research grant
Broadcom Foundation and Tel Aviv University Authentication Initiative
Center for Science of Information (CSoI), an NSF Science and Technology Center, under grant agreement CCF-0939370
Check Point Institute for Information Security
U.S. Defense Advanced Research Projects Agency (DARPA) and the Air Force Research Laboratory (AFRL) under contract FA8750-11-2-0211
European Community's Seventh Framework Programme (FP7/2007-2013) under grant agreement number 240258
Israeli Centers of Research Excellence I-CORE program (center 4/11)
Israeli Ministry of Science and Technology
The Leona M. and Harry B. Helmsley Charitable Trust
Office of Naval Research under contract N00014-11-1-0470
Simons Foundation, with a Simons Award for Graduate Students in Theoretical Computer Science
Skolkovo Foundation under grant agreement dated 10/26/2011

http://zerocash-project.org/about_us
👍  , ,
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@linkback-bot-v0 ·
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