I've encountered quite a few blogs that predict that EOS will disrupt Steem. Dan Larimer even hinted that he would launch a "Steem 2.0" that fix the errors that he made when launching Steem for the first time.
Now, for the sake of transparency, I own a significant stake in both Steem and EOS. With that being said, here is my take on this issue...
To begin, EOS and STEEM are completely different beasts. The former, is designed for people to creates dapps that runs on a fast blockchain. It's made so that it can run decentralized exchange, social media, supply chain or even cryptokitties without transactions fees and blockchain bloating.
STEEM on the other is blockchain that specialized in media. Social media is a tricky thing and Steemit Inc now has 2 years under their belt...that's a long time to acquire specific knowledge on the intricacy of social media on the blockchain.
Because EOS might have a social media app, it doesn't mean that STEEM is in trouble. If anything, as an investor in STEEM I am thrilled that competition is coming...it is sorely needed. First, it's a validation that there is a huge need for social media dapps that pay its users for participating. Secondly, it will push the Steemit Inc team to double their efforts to stay on top of their game.
More competition will come on the front-end side to make it more user-friendly as well as new ways to approach these challenges.
EOS will disrupt Steem by the simple fact that there will be competition. But if you mean completely displace and supplant, I wouldn't bet my life on it. Building a long-term viable social media business on the blockchain is very complex and comes with a lot of curve balls. People constantly try to game the system and it's impossible to know how people will act once you introduce a new algorithm.
Please let me know below in the comment section what you think of this situation. Are you excited or fearful of competition?
