After the success of Equality, steem’s developers are already thinking of new updates to help onboard new users.
We propose a new method of burning STEEM (i.e. destroying the tokens and removing them from the token supply) on each account creation and crediting the account with permanent minimum bandwidth instead of providing Steem Power to the new account. - “Proposing Hardfork 0.20.0 Velocity”
The scaling benefits of this new upgrade can be read on the official post, I would like to focus on the economic aspect of it.
After Velocity is implemented the price of Steem will be directly correlated with its growth, as users sign-up to the platform Steem will be burnt and the supply will be reduced each time, making Steem more scarce and thus more valuable. By effectively reducing the supply and increasing the demand the price of Steem should see a dramatic increase to unseen levels.
