There have been emerging platform that is absolutely coping the Steem protocol as of the moment and we cannot deny the fact that all of those users are coming from Steem. They have seen the backside, backlogs, mismanagement, and greed among the Steemit Inc. company that made them do so. They wanted those changes to be implemented on Steemit but the management is very reluctant enough to cater those important concerns. Also, internal issues had happened especially how Steemit has progressed over the years (more than 2 years now since Steemit is launched).
These are the top competitors of Steem that will surely be a headache once they'll made a mark :
- Weku (https://weku.io/
- Whaleshares (https://whaleshares.io/)
- Scorum (https://scorum.com/en-us)
- Smoke (https://smoke.io/)
- https://golos.io/ (Russian Steemit)
The main problem with Steemit that them creating their own platform is to be able to addressed issues that were not resolved by Steemit or slow to response. Most important part is, they wanted to be able to organize a team that is responsive to the concerns of the community.
Competition would insinuate that Steem has been a successful platform. If anything, it has only begun, with all the speed bumps in the way. You cannot have competition when there are no working, mature, decentralized social media.
Not to be a downer, but what is Steem currently in the social media space? Nothing.
For your convenience, I have decided to list out some reasons why that is so. This question is not only premature, but reeks the proverbial "frog in the well" trope.
In short, there is no competition to Steem. The blockchain has not poised itself for competition due to severe delay in progress.
1. It cannot onboard enough new "actual" users to ramp up interests.
We likely have more dummy accounts for vote farming than actual users. That 1.1 million accounts figure is misleading.
2. Too complicated
The economics. The keys. The politics, etc. The level of complexity is more than enough to deter people from joining. Even your average "third world" circle jerk farms lose their keys now and then.
Things get political on the platform, and it may not be in relation to real world politics. It is its own microcosm of who is who and what is what.
That does not sound like a space for your average joes who wants to interact with their friends. I will even highlight the word friends. How many of you actually onboarded your friends to the network?
This is why dapps such as @musing or Steem Monsters try to appeal to common interests to get people to join. To what extent is their success? I do not have the stats.
3. Delayed development
Delayed features hurt the chance for mass adoption. People who are aware of the blockchain technology are already scratching their heads. Many do not understand what many projects are trying to achieve.
This leads to the notion that most projects are out there for the sake of raking in money and exit scam when ready. Steem has a host of fledging applications, but what of the blockchain overall? Where is that SMT going now?
4. Poor marketing
How could people know about the network when there is no meaningful marketing in place?
It is funny because Justin Sun has no product, but hyped the daylights out of Tron. Ned Scott has people building the community for him, but does not utter a word of it. In fact, he does not even use Steem for the most part until recent downturns.
So, let me ask you this: what competition? Steem has not even signed itself up to be judged by the world. It has not even left the metaphoric registration process.
Yes!, Totally Yes!
Steem always has serious competition as a blockchain network. If (maybe EOS) start to make decentralized social media platform, it will be the end for Steemit, because EOS has all advantages that Steem does not have.
So, if innovation in the Steem network does not continue, then that means the end for Steemit.
One of the innovations that can lift Steem is the presence of SMT. However, I became doubtful after hearing the latest news from @ned.
@Anonsteve, In an Decentralised Economy we should forget about the competition because, it's about the opportunity and whatever opportunity will exist in this Economy inturn will going to provide the opportunities to masses and these competitions and which is the better platform, we have to exclude it and every project in Decentralised Economy is an opportunity and will help who want to explore it. Steem have effective communities and it's unique and it will expand in my opinion.
Wishing you an great day and stay blessed. 🙂
Yeah I think Scorum has a real chance at making mainstream before we do. Beautiful site, clear communicable plan and they are executing it.
We are lucky they are only in the sports niche.
To be very honest, I don't think there is any serious competition, I have never seen any decentralized platform like steemit.
But there must be competitor, because it gives us the idea about how we are doing, what should we improve, What are our mistakes.