Steem: Digital Asset Report
Crypto Briefing put out one of the best cryptocurrency reports I have seen to date.
Steem was featured in the latest Crypto Briefing digital asset report and they actually got a lot of things right.
If you are not familiar with these reports, the Crypto Briefing digital asset reports are some of the best in the business.
Very informative, very in-depth, and they actually get most of their facts right.
Which is something a lot of these crypto reports fail to do.
The report in its entirety can be seen here:
https://cryptobriefing.com/steem-digital-asset-report-token-review/
An example of what's covered:
The report talks about some of the issues steem has faced thus far, mostly related to steemit.com not doing what many thought its intended purpose was; reward quality content.
However, it also goes on to show the market potential still in front of steem if they can right the ship with steemit.com by comparing it to other popular social media sites in terms of active users:
(Source: https://cryptobriefing.com/steem-digital-asset-report-token-review/)
For comparison, steem surpassed 1 million users in May of 2018.
The report went on to state that the size of the social media market is expected to grow to $39 billion by the end of 2019, leaving quite a runway.
Steem currently has a market cap of $151 million.
This was just one area they focused on of over a dozen.
Final Conclusions and Ranking:
Per the report:
"Initially Steem as a blockchain was built with a clear use case and by introducing Steemit, achieved good results. The platform attracted authors that could start receiving cryptocurrency for their works, generating good profits for some during the bull run. The platform was also successful in attracting outside developers to build on Steem.
However, after the market turned red, some of the issues that were neglected when the cryptocurrency prices were high started to hinder the project’s development. STEEM Power centralization led to a decrease in the quality of the content, and authors started to leave Steemit. In addition, the company that supports the development behind the project has faced financial problems and had to lay off nearly 70% of its staff, shifting the team’s focus to cost reduction.
The current prospects of Steem are questionable. Therefore, due to the above risks, it is graded with C."
Final Verdict: Steem gets a C rating.
Which is actually about right where I would rate the project as well. Tons of potential, but has lived up to almost nothing thus far.
Check out the full report for an interesting read folks.
https://cryptobriefing.com/steem-digital-asset-report-token-review/
Stay informed my friends.
-Doc
Pinterest will be the next one to go public with an estimated $9 billion valuation so the runway is surely there to innovate and disrupt the sector!
Posted using Partiko iOS
Why are they having so much trouble attracting and keeping users on steemit? My guess is a lack of advertising... but there must be other reasons as well.
Lack of onboarding in general as the FAQ doesn’t really help and there is no initiative to keep users engaged like in centralized platforms.
Posted using Partiko iOS
There isn't initiatives on other social sites to keep users engaged... they show up because all their friends are there and that is why they stay...
There might be a few other things like poor onboarding, lack of tutorials and explanations, etc.
True, though many are just derivatives of the same overall problem. My main issue is that there has literally been nothing done to correct the issues, and for the life of me can't understand why. Steem once ranked #3 on coinmarketcap, today it is #51 and will be outside the top 100 within a year or so at this pace.
I dont know man. Im just a dude commenting on Steemit. Lol.
Why Steemit.inc fucked up is anyones guess.
What i do know is that we need to pick up some slack ourselves.
Stuff has been happening lately. I have high hopes going forward.
What gives you high hopes?
Mira, steem engine, the twitter campaigns, stinc social activity, steem monsters, IEOs, etc.
I wish I shared your same enthusiasm about the things you mentioned. None of the above excite me regarding adding significant value to steem.
Enjoy the vote and resteem! Please follow @airdropattention for a chance to receive more free votes and resteems!
Cool. Thanks!
Great read though I found it laughable to compare Steem to Sapien which is trash
Yes, there isn't much to compare it to currently in the crypto space. The report acknowledged that.
I think minds is doing really well but they need to integrate further with blockchain tech and when they coin goes up more in value
Is their coin listed anywhere yet?
ForkDelta, on an unlisted URL - https://forkdelta.app/#!/trade/0xb26631c6dda06ad89b93c71400d25692de89c068-ETH
So no major ones... do they plan on listed on any major exchanges?
Of course. They will push for every exchange, but currently, they have it set as a utility token. They will push harder for it when they adopt multi currency support
I see.
I’d never even heard of it! Also, when I was looking at the kinds of Dapps on Tron or Ethereum, most were not social apps. Most of the Dapps on Steem are social so the article seemed to be comparing apples and oranges.
True, though there aren't many popular social apps in crypto that are near steemit in terms of size or activity. Tough to find a good comparison.
Very interesting 🧐
I think it is pretty accurate.
The best value is created outside of Steemit and this blockchain has survived the bear market. Many people have left but true believer stay on board!
Posted using Partiko Android
Still need to build something that actually brings people in. No crypto app has really been able to do that yet.
Some are really tryring....check out this post
https://steemit.com/steemmonsters/@steemmonsters/tron-ventures-into-the-splinterlands
Not a bad start.
The numbers are still paltry. We need an app with millions of active users.
SteemMonsters is a really good example!
The numbers are still paltry. We need an app with millions of users.
I agree totally with everything in regards to Steemit.com but they don't mention all the great Dapps that are already ranking high in all Dapp related sites.
What about the success of Steemmonsters, Actifit.io, Steemhunt etc...thats where the real development happened the last year.
Steemmonsters is even spreading out there arms to the Tron community and is one of the most played Blockchain Games out there.
They should show some props for that!
They mentioned Dtube and Steepshot specifically and they made mention of 100 other apps built on the chain. Perhaps much of the research for this report was compiled months ago before these other apps were as popular as they are now? Which by the way is still a far cry from where they need to be to really give steem some fundamental value.
And we're back in 50th place. The fact that you are still in the game with 117,000 Steem is incredibly impressive.
Don't look now, but we are in 51st now. Ugh.
Are you saying I should have sold it all long ago?
Congratulations @jrcornel! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
That is quite a few upvotes!