Since Steem is a blockchain-based Digg-like project, it's very interesting to read the story of Digg's failure.
"Digg always wanted to be the democratic alternative to the oligarchic media in determining which stories got the best exposure. The idea was simple: Anybody could submit a story, then anyone else could vote it up or down. The cream would rise to the top, and the great masses could have their stories selected by the crowd.
It was supposed to be a "People's Choice Awards" for news and content.
Unfortunately, the initial design was fundamentally flawed."
Read the full story: http://www.computerworld.com/article/2506833/web-apps/elgan--why-digg-failed.html
