It is amazing how people do not research things.
All the time we hear that STEEM has nothing going for it. People like to talk about how it lost the first creator advantage. With each new article about something different, we learn that STEEM is cooked.
My only question is which blockchains are they looking at?
The truth of the matter is that most blockchains have nothing going for them other than a few ideas and, perhaps, a roadmap. In fact, it is more than most, it is 60%.
What does nothing mean? They do not even have a working product.
Another issue with this is that of the ones that do have a working product, there is a percentage that had to deal with crippling vulnerabilities.
Anonymous cryptocurrency Verge recently had to fork its network after an attacker exploited a vulnerability in the platform to steal $1.7 million worth of coins.
Decentralized liquidity platform Bancor too fell victim to hackers in July, losing $12.5 million worth of Ethereum as a result. Following the hacking, it also became clear the platform had built in a backdoor that allowed the company to selectively “freeze” funds on its network.
https://thenextweb.com/hardfork/2018/08/15/top-100-working-cryptocurrencies/
All this according to the Cryptocurrency analysis firm Invest in Blockchain.
Does that provide some perspective?
If other blockchains were really eating STEEM's lunch, how come the numbers on here do not seem to change.
blocktivity.info
Notice how STEEM is not only second on this chart but there are only 4 blockchains with over 200,000 transactions PER DAY. So while STEEM's traffic dropped in recent months, along with everyone else, it is still one of the most widely used blockchains. In fact, I would make the claim that it is one of the few that actually has anything on it.
While 30 or 35 blockchains might have working products without vulnerability risks, it seems that most of them have products nobody is using.
The same is not true for STEEM. There are a number of applications that are starting to emerge with major potential. Hence, the cryptocurrency is not the only app that is used on here.
As we keep seeing all over the blockchain stratosphere, development does not go as easily or smoothly as many think. There are delays and issues. Bugs are a common part of this realm. If one takes the time to look around, few are pounding out developments as quickly as the STEEM blockchain. It seems like each week we are adding another 5 or more applications.
Another advantage that STEEM has is a tight knit community. Sure, there are some bad apples. However, for the most part, people on here are committed to the success of STEEM. People tend to complain about what takes place without looking at what is happening in other communities. Perhaps it might be best to get a little contrast.
STEEM is an evolving, growing organism. We are seeing a shift in the way things operate on here with the introduction of so many applications. This is a wonderful thing to have happen. Technology often works that way. It rarely unfolds how people plan. It often takes directions that even the creator did not consider.
At this point, STEEM is way ahead of the pack. For all the articles touting the next social media platform that is going to be a STEEM "competitor", where is the activity? The truth is that all the plans in the world are great but it actually requires development of things that people use. So far, this has not happened.
It is best to keep some perspective. Each day, the Steemit developers and others on this blockchain are pounding away at code moving this blockchain forward. At the same time, tens of thousands of us are posting articles, commenting, and upvoting. This is something the other blockchains cannot claim.
Hard Fork 20 will change a lot of things. The biggest thing I see is that it will allow anyone to on-board users, especially applications. This will really allow for major user growth. Up until this point, it was pretty pointless to draw a ton of people here since it would take a week or two until they got their approval. That isn't going to work for the masses.
Progress is being made and, if anything, STEEM is only adding to the lead it has on most of the other blockchains. So while they work on getting a working product, STEEM keeps adding applications, announces the dates for Hard Fork 20 and SMTs, and is poised to add a ton more users.
That is what you do when you are leading the pack.
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