The Evolution Of Blockchain And DApps Like @steemhunt Are Leading The Way

We are in some wild times right now. It is incredible to be able to see the future and where things are going. Unfortunately, having this insight can make us antsy.

Those of us who are on the Steem blockchain each day can see the future. We are well aware that decentralization is going to get larger as the years go by. While the world might never reach total decentralization, we will be enough of a force to alter the landscape of things.

Consider the world of software. Most software is not open source. It is closed and controlled by the companies that write it. Linux, however, is a major force in the world of software. I once read that roughly 85% of all servers are run using this. Servers running another companies software simply does not make sense as a backbone. Linux has proven to be a major part of the computing world, including the Internet.

We will see the same thing with blockchain. Even if some of the centralized structures remain in place, decentralization is enough of a force that it will push the majority aside. This, of course, will take some time.

https://steemhunt.com/

At present, there are some DApps answering the call on the Steem blockchain. One of this is @steemhunt. Since they arrived here 9 or 10 months ago, this team showed itself to be innovative and groundbreaking in their approach.

In their latest post, they expressed the disappointment at the delay in the release of SMTs, like everyone else. However, they are not letting that set them back. They are going to use the time to keep improving their platform for when the protocol is released.

One of the aspects that excites me about this project is their design to reach outside the blockchain. Their goal is not to get more Steemians using their application. Instead, it is to get more people and companies to come to Steem.

They already announced an agreement which will enable the Hunt token to be listed on an exchange meaning that there will be a way to onboard using fiat. This is something that Steem is lacking since the STEEM to fiat conversion does not exist presently.

@steemhunt is also doing something I saw only one other application do. Like @actifit, steemhunt is going to enable conversion from Steem tokens to their token, the Hunt. I presume this will be done through their site similar to how Actifit's has that enabled on their application. I believe payouts are using done in SBD from Steemhunt so they will have that converted.

For those who are unaware, there are three facets to the Steemhunt project.

• Steemhunt: allows hunters to post technical gadgets and applications they find interesting. Hunts are upvoted and commented on by others.

• Reviewhunt: this phase is already being worked upon. Here, companies can promote their products through the use of "influencers" on Steemhunt. This is a service that will enable companies to get their products in front of potential users while also giving them the ability to pay for it using their Hunt tokens (and receiving a discount).

• Ideahunt: This is a crowdfunding platform where new ideas can be brought to the Steemhunt ecosystem for funding.

One interesting development is that Ideahunt is going to use NFTs (Non-Fungible Tokens). This is a great approach because these tokens are differentiated from anything else on the market. Also, they can be programmed with more data which can aid in the "ownership" aspect of things. The main idea is that crowdfunding a project using a token like this will essentially give someone a piece of the project. These tokens end up having scarcity and rarity because of the non-fungible properties.

The plan outlined by the @steemhunt team answers one of the questions that many throughout the entire cryptocurrency/blockchain industry are focusing upon. How do we create revenues? The bear market is exposing the lack of cash flow outside one's own token.

Looking at the chart provided by the team, we can see how they are in the process of creating a system which bring revenue to the table. Basically, they are seeking to leverage the Steemhunt community to outside businesses as a means of promotion. As the Steemhunt ecosystem grows in terms of viewers (and hunters), the appeal to outside companies becomes obvious. Advertising is still about eyeballs.

Steemhunt is providing a way for companies not only to be placed where eyeballs are but also pay influencers to push the products to where the eyeballs see them.

As you can see, companies have the incentive to accept payment for their products in Hunt since they require that to pay the influencers to promote their products (called a bounty). @steemhunt takes a commission on each bounty providing it with a revenue stream.

https://busy.org/@steemhunt/our-strategies-during-the-bear-market-or-sponsor-report-33

I repeatedly stated how impressed I am by this development team since they joined Steem. From the start, they showed the creativity to navigate through the waters of a brand new industry. In my opinion, this continued up to this day. Their latest post shows how they continue to push their plans forward regardless of what is happening. Consistent focus with the ability to remain flexible is important. The addition of NFTs for Ideahunt is a prime example.

With applications like this, the future of Steem is very bright.

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