New to Busy?

Why every fork out of Steem might not survive.


8 months agoBusy3 min read

images (2).jpeg

Through thick and thin, the Steem Blockchain still linger on while many of its forks are dying and not living up to expectations. A couple of platforms were forked out of the Steem chain, with the sole aim of correcting Steems errors, in price and protocols, yet, none is living up to that promise and Steem still out performing them all.

Fact is, every platform created still carries the shortcomings of Steem along side their own flaws and errors, and with their incubation period still pretty immature, they all dying off and seem to not have a fighting chance, or perhaps with no hope of surviving the fight.

What do i mean by this? A relatively new platform pegged to other token won't live to see the light of the day if its token never experience market values and use cases that is, tradable with other top performing cryptos. Secondly, too many Hardforks for a new platform with a fewer users makes it a distaste for new users to come onboard.

Another reason is onboarding, any complicated form of onboarding or signing up of new users to a new platform will make attaining mainstream adoption just but a shadow chase. If you want millions of users, then you must think of the easiest way to accommodate new members. If your technology and security isn't easy enough, your user base will be limited to people with a certain technical skill which is why Facebook, Twitter and the likes will remain ahead in onboarding and user retention rates.

Greedy witnesses is another challenge. How do you expect someone intoxicated with Steem Greed to improve a platform without getting anything out of it? Most witness are after the rewards not the interest of the dapp, we can all hype and praise them as always, the truth will always surface like we saw on Steemit. Therefore, the forks of Steem are experiencing no growth because of the greedy and selfish sets of witnesses who wants to game these maturing platforms like they did on the Steem chain.

Lastly, nobody wants to invest in a non growing project, investors would prefer to invest on a token with actual road map and deliverieables. No amount of hype or promises would attract investors if nothing is delivered long and short term. Hence most Steem forks are not attracting large investors.

My thoughts coupled with my findings needs to get out in the open, my opinion can't be the same as yours hence you are free to disagreed with my points at your own will.


Sort byBest