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New standards from Steemit and a little about the possibility of another hard-core
As early as March, the social network Steemit strongly fevered, in this connection, the developers even implemented a hard-core, but these changes led to the development of the payment system. As a result of the recent growth in the rates of many crypto-currencies, STEEM also received its bonus points, and after the value of the system's coins increased 20-fold, it stabilized at about $ 2 per one token. Thus, the amount of remunerations that are intended for participants automatically increased. Nevertheless, as a result of the previous hardback, the pool of rewards was nullified, and its full restoration took several weeks, after which payments were lower than the standard ones, until they stabilized by early May.
Already on Saturday, June 17, the size of the pool was $ 3 million, whereas on March 11, this volume fell to $ 20,000. Along with the main financial indicators, the main characteristics of the network also grew: the total number of registered accounts reached 200 thousand people, but there is no way to check which of them is a "live" user and who has joined the system and disappeared.
Of course, many believe that the prospects of the social platform are simply huge, linking it to a jump in the exchange rate of major currencies, but the shortcomings inherent in Steemit's working economic model have not disappeared. For example, among the main problems of the system is the unfair distribution of wealth. So, about 93 percent of the cryptonyms are concentrated in the hands of the main rich people (1 percent of all users), and this data is taken into account without a personal account @steemit, with the activation of which the situation will only become more complicated. Therefore, financial whales, in whose pockets more than 384,000 SPs are concentrated, can influence the distribution of payments for successful posts. After all, the current rules provide for the price of one like, like the square of digital coins on the account of its author.
The developers tried to significantly change the situation even during the first hard-core, when it was proposed to replace the quadratic principle of voting by quasilinear. But this idea was blocked by most Steemit users. At the same time, the oligarchs made concessions and they gave a guarantee not to use all their power in the voting process, and therefore the subsequent hard-core (No. 18) simply became slightly changed # 17.
After the whales had given the reins in the hands of the community, pool fees were controlled by "guilds" - communities of users who were concentrating on certain projects. Nevertheless, no one can guarantee that the whales have not yet created a ton of accounts to vote with them for favored projects with the same capital. The fact is that in the implementation of the powerhouse No.18, the system has been added the possibility of delegating and borrowing SP between accounts.
It can be said that the situation has not changed much - the award pool continues to be distributed among the selected authors, whereas the usual participants began to receive slightly larger sums only for the reason that the STEEM course has grown. But this trend is explained by the general increase in the value of the main crypto-currencies - a changeable trend that Can always be completed. And already it is worth paying attention to the difficulty of Steem Power's withdrawal into STEEM coins, which means that it is increasingly difficult to sell tokens of the network.
Next hardfork: a new attempt to achieve equality
The situation was tried to change the new "reset", which was called "Equality". It became the nineteenth in the bill since the appearance of the network, and most of the witnesses have already supported the project, so the likelihood of its implementation is very high. According to the plans, the code will be activated literally from day to day, and besides technical innovations, it carries such innovations:
• First of all, the quadratic promotion scale will be replaced by a linear one. Thus, each Mvest increases exactly 1 point by the value of the user's favorite (at the moment the ratio is one million to one). In voting, Mvest is calculated instead of SP, and their ratio may vary with time.
• HardFork provides for a 4-fold reduction in the number of personal uptakes, and the cost of each of them is also increased 4-fold. In a day the user can make 10 "likes", while until recently their number reached 40. Restoration of the opportunity to vote remains unchanged and equal to 0.83% per hour. According to the developers, owners of small capital, which is up to 1 Mvest, will benefit from the reform, as they will have an equal right to vote. Even lowering the strength of the vote from 83 to 25 percent, the owners of small capital will remain with the same rights.
• The rich can use the full power of their capital. After the activation of the hardcore, the balance of unpaid promotion for users will change, as the payment will be made only 7 days after the publication. If only whales vote for the author, the value of his publication will be lower than that of the one who was supported only by small users. But most often in the assessment of posts are involved, and those and others, and therefore it is difficult to say how the innovations affect the overall alignment of forces. Averaging of payments also does not have certainty, because not all network members want to earn less than before.
conclusions
Apparently, those users who wanted to make good money on a profitable change in the rate of the main crypto currency will lose significantly in their incomes. Nevertheless, there are critics who say that the reform will be an ordinary pacifier and will not bring significant changes. After all, owners of large crypto-currency capital will control not 99 percent of digital money, but only 93 percent. At the same time, no one hides that the move will be made in the right direction and will lead to decentralization. The problem remains the possibility of voting with all the capital, but the previous experiment brought serious losses to the holders of large sums in STEEM for 2 months. And if they all understand that the project is no longer profitable - a massive exit from the network will begin, which will crash the course of the crypto currency.