The release of EOS is starting to cause a stir. What is going to happen when @dan's finest work becomes available to the world? While it destroy the other blockchains he created?
From what I can understand, EOS makes Bitshares and STEEM look slow. According to an interview with @stan, a transaction on EOS is going to take half a second. Like STEEM, there will be zero transactions fees if my understanding is correct.
EOS has a bit different goal than the other two projects. This is designed to be an operating system. From what I can garner, EOS can be integrated into other blockchains. The goal is to become the "world's computer". We saw a similar idea out of Ethereum, hence why some believe EOS might be the Ethereum killer.
So where does this leave Bitshares and STEEM?
According to an interview by CryptoConnie with @stan, Bitshares 3.0 is being embraced by the community. What is Bitshares 3.0? It is the integration with EOS to allow different chains to operate. This will give the Bitshares system the ability to handle the institutional business. Not only will Bitshares benefit from the features of EOS, this allows a chain to be built adhering to the regulations, something institutions require. At the same time, the existing model of Bitshares is still in place for those who do not fall under this category.
What makes this all very interesting is that BlockOne is not building a blockchain. This is the entity that is creating EOS. They are simply going to release it and let others build off it. That means there will most likely by many blockchains built using the EOS operating system. @stan mentioned the goal is to be able to project Bitshares into each EOS blockchain automatically. Perhaps some of the more technical people can explain how that would work.
Nevertheless, @stan stated the goal is to approach this in a way that makes both Bitshares and EOS more valuable. If what is mentioned here unfolds, I think it is safe to say that has a good chance of happening.
Where does @dan stand in all this?
Before going any further, I will state that all I am about to say is supposition based upon what I read and interviews. There is no first hand knowledge in any of this since I haven't ever interacted with @dan.
I watched in interview with him a while back where he stated that EOS was his final blockchain. He was asked if he would develop another one and his answer basically was that EOS was it, that anything else he wanted to do could be done on EOS.
So what does he want to do?
Many on STEEM fear that EOS is going to destroy STEEM. At the same time, there are many that feel EOS could help STEEM. Which one is correct?
The answer is both..potentially.
Part of EOS could be integrated into STEEM if that was the path that was chosen. I have no idea if the development team would consider this or if they even feel it necessary. Perhaps it is not. Integration of some of the EOS features, if they prove to be true, could really help the STEEM blockchain.
Of course, the prevailing thought is that other social media networks could show up on EOS. This makes sense and something I think we can expect. Does this immediately kill STEEM? Not necessarily. STEEM is nearing 1M accounts, hadsan active users base, has a number of functioning applications in operation, and developers creating more each day. This will not suddenly go away. Plus, if those people are making money, they are not instantly going to pick up and move their businesses. Apps such as D.Tube and Zappl spent a lot of time working the bugs out of the code while going through numerous upgrades. Someone starting out is going to have to go through the same process.
Nonetheless, there will be other social media entities created.
I guess the question is will @dan build a social media network on EOS?
This is where things get hazy.
There are rumors of STEEM 2.0 coming out at some time. This is something that @stan was asked by CryptoConnie. His answer was a bit speculative also since he claimed @dan does not reveal his plans in their conversations but that there were some things that did not sit well with @stan. Connecting the dots, I am going to surmise the apple does not fall far from the tree on this one.
Essentially, @stan mentioned the behavior of some whales who have a great deal of power. He basically said that he can't wait to see them get what they have coming to them. You can take that to mean what you want.
In a post on Medium, @dan wrote this....
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers.
https://medium.com/@bytemaster/the-limits-of-crypto-economic-governance-9362b8d1d5aa
Now I will say this article was not about STEEM but, rather, DPOS being a better system than the AI based decision making that Ethereum is implementing. Therefore, I believe this comment pertained more to the witness level of things along with the idea that our real life political systems are structured like this. Hence, this quote might not be referring to what I am writing about here whatsoever. And then, again, it might.
One thing that @dan made clear is that he does not like the power in the hands of a few. EOS is undergoing a year long ICO in an effort to get the tokens in as many hands as possible. STEEM, while it is improving each quarter, still has a consolidation of power. Could this be on @dan's lists of projects after he completes EOS?
I am going to speculate that @dan has no desire to destroy STEEM. Why would he? This is one of his creations. He spent many hours hacking away at his keyboard to develop this. I would imagine the last thing he wants to do is to destroy it. Talk to any artist, they do not want to see their work trashed.
Which brings me to STEEM 2.0.
@stan mentioned something interesting in the interview. He used the word competition and felt that Steemit could use some competition. Now if we are being technical, competing with Steemit simply means building a new interface. Busy.org is already that. However, I do not believe that is what he was referring to.
I would have to go back and watch the video, but I recall @stan using the term "Steemit" when referring to the blockchain. Hence, he is stating that STEEM needs some competition. This would make sense since a new interface does not address the power distribution.
Leaving us to guess what STEEM 2.0 is.
My conclusion is this.
The thought is in @dan's mind to fork the STEEM blockchain. This would allow him to do a couple things. He could integrate that fork with EOS if that is his intention. Also, he could create an airdrop based upon accounts between 100 and 100K SP. The reason for the 100 is to not reward spam accounts and the 100K puts an upper limit. Accounts that have over 100K SP would simply get paid the max. Thus, 600K SP accounts become the same as 100K on the new chain. (Or the number could be 50K, 25K or even 10K)
So what do you think? At present, this is my conclusion based upon some tidbits from @stan and @dan innterviews and their writings.
Am I off base here? What are your thoughts?
I will state again, this is complete speculation on my part so please take it as such.
@stan's interview with CryptoConnie.
https://steemit.com/bitshares/@bluerocktalk/stan-larimer-explains-the-bitcoinlatina-incident
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I love the idea of making a snapshot with a minimum and maximum cap! If that happens, this will explode from there (in a good way)!!
Dan is actually pretty clear about the fact that a Steem-like platform will be one of the EOS dApps. Specific code functions for a social media platform on EOS have been developed already and are publicly available via Github (it's highly similar to Steem, not a suprise though, considering the developer).
Also, his post a few months ago already described functionalities of a social media platform on EOS (yeah, the blog that got "downvoted for aggrandizement" by Ned).
There will be a Steem-like platform on EOS, no doubt about it. If it can happen in a mutually beneficial way, that would really be terrific! But I fear that would require Dan & Ned to come to terms, which is pretty unlikely, don't you think?
From what I can see, yes I would think that unlikely.
Hence why I stated just fork the blockchain...then the STEEM blockchain can be integrated with EOS and @dan can work towards what his vision was to start with.
Or he just starts another one on EOS....
But the STEEM 2.0 is confusing then...and @stan made reference to it....
Who knows...all speculation at this time.
But that would mean that forking the Steem blockchain, applying the caps and re-launching the Steem community on EOS would not be done by either Steemit or Block.One.
Oh well, let's hope the trifecta (BTS, Steem and EOS) will work together as DPOS systems and reinforce each others communities. That would probably be best and reduce the amount of in-fighting, which only leads to distraction. There is much to win by working together.
Yes cooperation is the key.....the in-fighting really needs to stop.
People are too addicted to violence and their own egos. For the community to move forward, we all need to be united. There are outside forces which could impact STEEM....a strong community is vital to enduring that.
hey man I finally made a post again on steem, took me almost 4 weeks in preparation :) could you take a look and tell me what you think?
Great post.
I must say I hope we will see the Steem 2.0 and not EOS eating away our platform.
I'm an heavy investor on EOS and BTS along with Steem.
For me Dan is a genius, and I think he is smart enough to raise to the sky his 3 babies including Steem though.
Yes, EOS could bring competition but in the mean time it could bring legacy to Steem. Means thanks to competition, people could realise how Steem is advanced and well-made (even if they are still issues so far like power in the hands of the few and struggle for new users)
Thank you for the input =)
You would hope @dan looks at each of his creations as children and is willing to do all he can to help them do well.
Also, he has over 500K STEEM himself....so he has a vested interest in it...at least at this point.
Could be a good indicative to check out if, someday, he decides to move/sell/power down his Steem.
Or if he keeps them, a good signal that he wants Steem to be around.
I know Steemit has the following problems:
When a genius mind is bright, it should collaborate instead of fighting against is own creation.
My philosophy, I will try the new platform when it will be available on EOS.
Yes well very smart people often have egos that clash.....
I agree they should collaborate. I have no idea what happened, who is at fault, or what it would take to resolve it.
I just get the impression there isnt going to be a reunion.
Hey @taskmaster4450,
I think this is a great writeup in line with speculations of the nearest future. We all know EOS is gonna be so big. We all know that the blockchain has the ability to kill/swallow Ethereum, bitcoin etcz (& even our dear steem).
I too have reasoned in this line as well. If there's an airdrop with a cap allowing steem users to swiftly move over to the new chain and balance up the power, it would be the greatest thing since sliced bread and fish lolx.
ANyway, I will keep my fingers crossed on all this. Still its important for us all to pick up some EOS for the future of *OS is crypto.
See my post echoing this same ideas in The Cracks In Steem Paradise
Btw; I found you via your book on DBooks! We do have a lot in common ideologically and otherwise.
Keep it up!
Yeah I put something up on Dbooks the first day....
Obviously the cover I designed didnt seem to work....
Oh well...live and learn.
Thanks for the post...we will see how this all plays out.
Competition to steem within the very people who use and develop steem will only weaken the future progress of steem. For instance all those bitcoin forks after BCH were likely done to make a quick buck. Yet energy from developing those fork could have been better spent if put into upgrading and enhancing the original bitcoin.
I feel there has a lot of work still to be done with steemit but to have other competitors would mean less programmers and skill tech to get into steemit and make it better. I know competition is healthy, but it seems we are still in early stages of cryptocurrency. Thanks.
Ya, it will be interesting to see if steem can hold it's own against any kind of new social media on the EOS platform. There are definite issues with the platform that cause some people to leave and others to not want to join, but if steem progresses it definitely has a leg up. It has something for everyone and keeps building.
Could be like Myspace and FB where just having a superior experience will cause the old version to almost die out
It very well could.....or it just might motivate everyone to do more, better, quicker.
Either way, I dont think that something like D.Tube will suddenly up and leave. There will be a network here...the question is how much is it used and how is it growing.
Ya, having a community in place with every single app to replace the other current popular ones is a huge advantage, we really need to start retaining users. I'm wondering the affect SMT's and communities will have, I feel like with a few changes steemit will be just as user friendly and waaaaay more powerful than most everything else available
Hi, nice article! It seems that Dan has already announced that Steem 2.0 would be built on EOS, and neither would be integrated to the existing steem. Especially not after the recent disputes. Anyhow, i do agree that some competition might be beneficial for steem.
I love the idea of Steem 2.0 being a fork on EOS. This way we would not have to power down and sell our Steem at the right moment, just to move all over to @Dans new Steemit.
That would also mean, that we can take over all our followers we gained here, right?
Also this way, Dan would not need to destroy his old work - just make it better on the new ChainOS EOS
The more I think about it, the "fork idea" becomes better and better... 👍
I would think a new token would be created especially if one of the reasons for the move was because of the present distribution.
As for the other stuff, I would guess it would be starting all over.
Of course, that does not mean that STEEM goes away...it will still be operating...
One would have a choice of where to post...or on both.
EOS can't kill Etherium or Steem until cryptocurrency becomes mainstream. EOS will only serve to help all blockchains become more mainstream. If EOS steals 10K users from Steem, 20K more will appear because of the legitimacy that EOS brings to all blockchains. In short, EOS is going to bring more outsiders into the cryptospace than it can steal away from other chains.
I have very high hopes for EOS and I hope it becomes #1 on the market cap. Cryptocurrency needs a new face; one that is not speculative. An operating system is the perfect nomination. More people have been HODLing EOS lately than any other coin. It used to be #9 or #10 and now it's a strong #6, $600 million above cardano. Currently a worthless ERC-20 token: all based and future hopes and dreams.
I have a feeling that the EOS/Steem2 won't airdrop to steemit holders. If anything it would airdrop to EOS holders and early adopters of the new platform.
But more than anything, I don't think Dan will be the main developer of Steem2.
I think his main criticism against Steemit is the centralization and the strange synergy between Steemit Inc.(Ned) and the whales.
So I think it's more likely that he will encourage people on the new EOS Blockchains to make the best new social media without a clear lead developer and then Dan could be the advisor if they need anything.
So something like the Bitshares core developer team would emerge for the Steem2 and they probably would feel that they don't owe the old Steemit anything.
Just my 2 cents and speculation.
@pandorabox had a great write up on EOS and I like how you made an informed speculation.
That could be a promising development if that is what to happen.
Now the thing is EOS and whatever iteration of Steem 2.0 it will show will still be a couple of year or maybe a year from now.
At that time a lot of new condensers, applications and features would have been implemented.
I already have a couple of EOS and plan to create an account there as well but not to the point that I would stop using Steem.
It could be good to have competition as it would make both systems try harder.
It's interesting to consider and I think you did a great job with the post, there wasn't any evident bias to any one side and it is open to the possibilities and changes while being very informative. The allocation of power is definitely the biggest downside of this blockchain, and as you've stated in some of your more statistical posts on the distribution of the power; it will change over time.
Community is everything at the end of the day and many of us here hate to see the platform degrading into a similar centralized system that we're all too familiar with. If @dan has created all these platforms and worked hard to get them where they are, of course, he is going to has a higher purpose that wants to create the ultimate decentralized platform with a focus on genuine community interaction and growth. Not people devolving into robotic scripted behaviors based on greed and capitalizing.
I love STEEM and I will continue to grow here and find like-minded people to surround myself with, but it's not the be all and end all. Don't count on one egg in one basket, count on multiple eggs in multiple baskets.
From reading between the lines I assumed reference to STEEM 2.0 being something similar to what we have here but within the EOS framework.
EOS has stood up well so far to the hefty crypto price falls, and I'm interested for this reason as well as the above.
Hmmmmm. Very interesting post. I don't know that what I'm about to say is germane but...
We know things are not good between Dan and Ned.
Ned's regime has not delivered on some of the promised changes to the platform. I'm talking SMTs and API here. Until those things happen Steemit is NOT a business friendly platform.
Commerce is where the big changes will happen. A 'middle class' would develop instantly with a few of the business people making it to 'whale class'. Which could conceivably upset the current voting patterns.
Right now there is no reason for the voters to change the scene. They are making the money and they get to make the decisions on the platform. There is a certain reason to believe that they like the current evolution and don't want to see fundamental change.
It'll be interesting to see where this goes. I think the Steem market position is showing great uncertainty right now and I think the 'threat' of EOS is the cause.
Thanks for a great post. I really do appreciate it.
Good post
@taskmaster4450 Always very thought provoking and well laid out in your blogs. I agree that no one would want to see STEEMIT harmed. That said competition would be a very good thing.....................
Sorry but you clearly didn't follow the Steem 2.0 topic. Dan will build Steem 2 on EOS and say fuck you to Ned. If Ned pulls off SMT on time, Steem will more than survive. All people here who believe in the revolution of blockchain will move away imo.
I do not believe I said anywhere in this post that STEEM was going to die....
If I gave that impression, that was not my intention.
Oops sorry, that is also not how i interpret it. There will be 0 relation between Ned and Dan, speaking about a fork is a bit of a joke but maybe everybody here means a snapshot, that is possible. There will be only EOS for Dan, also a Bitshares 3.0 is absolutely not on his mind etc. I find everybody wrongly assuming he will take care of his older babies, no offense.
Eos will bring more competition and in my point of view this competition will bring more growth to steem and eos. Let's hope for the best. Thanks for sharing @taskmaster4450
A fork. Like when everyone who owned Bitcoin received Bitcoin cash?
That would be nice...
Artists are particular about their work...
Excellent ideas in this post, and they make sense. Thanks for explaining some new technology that is evolving, and possible ways it could integrate with Steemit. I'm new to a lot of this stuff, but learning tons, and I'd like to see Steemit continue to grow in a positive direction.