A rather positive article in the Rolling Stone about the blockchain-based social media platform Steemit, but it fails to mention the developments in the recent months. The value of the platform has tanked considerably, with the bottom hardly in sight. The system was "hard-forked" (to use the fancy-term in blockchain-speak, but developers still have sufficient control of the system, i.e. it's not as decentralized as it theoretically could and should be), in order to reduce its built-in dilution or "inflation", hence there are now, not only because of the dropped value, less spectacular payouts for users' posts, in the hope to attract again speculators and investors. There is still a lot of potential because of synergistic effects to expect from future features, though on the other hand there are also other platforms in the making.


#steemit #steem #blockchain #social #media #socialmedia #crypto #cryptocurrency #cryptocurrencies #internet #tech