| operations | | 0. | | 0. | comment |
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| 1. | | parent_author | "" |
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| parent_permlink | steem |
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| author | bluabaleno |
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| permlink | is-dan-building-a-steem-competitor-on-eos-he-have-already-started |
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| title | "Is Dan building a Steem competitor on EOS? He have already started." |
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| body | "<html>
<p>Check out this example contract on the EOS github labelled 'Social'</p>
<p><a href="https://github.com/EOSIO/eos/blob/master/contracts/social/social.cpp">https://github.com/EOSIO/eos/blob/master/contracts/social/social.cpp</a></p>
<p>Here is the stated purpose of the contract.</p>
<p><code> * The purpose of this contract is to implement something like Steem on EOS, this</code></p>
<p><code> * means this contract defines its own currency, allows people to create posts, vote</code></p>
<p><code> * on posts, and stake their voting power.</code></p>
<p><code> * Unlike Steem, the goal is to enable maximum parallelism and enable the currency to</code></p>
<p><code> * be easily integrated with an exchange contract.</code></p>
<p>Well I could just leave you here and let you freak out the future viability of Steem, but that's not exactly what I'm interested in doing.</p>
<p>Instead, I want to find out why Dan wants to build another social network. </p>
<p><strong>The disconnect.</strong></p>
<p>If you think about it, it does not really make sense.</p>
<p>Dan Larimer is a programmer first and foremost, and, I might add, not very a social person. His main interest in is in building infrastructures that a emerging decentralized system needs. </p>
<p>He was prescient in many areas regarding, from centralized exchanges being a target for hackers to the limitations of PoW blockchains.</p>
<p>To solve these issues, he built Bitshares, arguably the first decentralized exchange and with a new consensus algorithm called Delegated Proof-of-Stake.</p>
<p>So what problem was Steem trying to solve?</p>
<p><strong>An economy is nothing without people.</strong></p>
<p>No economy can function without people. You need people to produce goods and services and you need people to consume said products and services.</p>
<p>Most importantly of all, all economy needs a currency to facilitate exchange, a genuine use case for cryptocurrencies.</p>
<p>All of not most of the cryptocurrencies today are merely securities in disguise, to be held with the expectation that its value will increase in the future.</p>
<p>But for a currency to really be a currency, it needs to be a medium of exchange, a temporary means to an end.</p>
<p><strong>Identity.</strong></p>
<p>In centralized systems, there is one central authority that gives you your identity, and it is based on that identity that other people who operate in that system come to trust you.</p>
<p>But in decentralized systems, who can you turn to verify who you are and establish that trust infrastructure?</p>
<p>Identity, or the story of who we say we are, is not written in isolation. For those who live by a different name than the one that is registered on their government isssued IDs, we often run into problems. We often identify ourselves by a name we prefer and over time that becomes the name that is associate with who we are as individuals.</p>
<p>In this scenario, it is the connection we form with our peers that establishes our identity. Social networks, in other words, is a natural and better way of establishing identity.</p>
<p><strong>Trust.</strong></p>
<p>Trust is an essential part of deciding whether or not to do business with another person. The trust infrastructure we depend on today are all derived from centralized institutions: Which government's ID do you have? Which university did you graduate from? Which corporation did you work for? </p>
<p>But all these centralized source of trust suffer from a same problem, in that they are difficult to transfer. Accreditation attained in one institution within one geographic locations does not necessarily transfer over to another. </p>
<p><strong>A decentralized workforce.</strong></p>
<p>One of the most amazing things about Steem is the diversity of talents. Everyone can and could contribute to the ecosystem in one way or another. Whether you are a programmer, writer, painter, organizer, or photographer, you can find a way to contribute. </p>
<p>Your contribution are judged by your peers through their vote, creating a culture rather than a project.</p>
<p>Subjective incentive rewards are something that cannot be hard-coded into the economics of the blockchain, and thus must rely on human judgement.</p>
<p><strong>Other fringe benefits.</strong></p>
<p>Having a social network like Steem makes it a lot harder to justify a chain split because it would split a social network, now instead of having to keep up one account on one website that you know everyone will read, you have to manage multiple accounts.</p>
<p><strong>So what's going to happen to Steem?</strong></p>
<p>In the short term, nothing. The power of a social network means that there is significant hurdle for people to migrate. </p>
<p>In the long run, Steem is relatively new, just a little over 2 years old, and it might be a lot easier to convince people to move to another platform. In order to survive then, Steem needs to find their niche, and it needs to do so quickly, that might mean replacing the leadership team with a new one. </p>
<p>@ned, with his effort on SMT has attempted this. But it is obvious that the lack of communication has frustrated many developers. It might be time for a new leadership team with fresh energy to take over if Steem is to succeed. </p>
<p>EOS aims to be the new backbone of the internet. And Steem must find its place in it.</p>
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| json_metadata | {"tags":["steem","eos","social-network","identity","steemit"],"users":["ned"],"links":["https://github.com/EOSIO/eos/blob/master/contracts/social/social.cpp"],"app":"steemit/0.1","format":"html"} |
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