Remember Digg? I loved that website. Then, almost overnight it turned to shit and everyone moved over to Reddit. Digg was no longer fun because it allowed some users, or even groups a users to control the content that rose to the top and bury what they didn't like. Or even worse was the 'pay for Diggs' fiasco. Reading the Steem White paper and to be honest I don't understand much of it, this caught my eye:
The fundamental unit of account on the Steem platform is STEEM, a crypto currency token. Steem operates on the basis of one-STEEM, one-vote. Under this model, individuals who have contributed the most to the platform, as measured by their account balance, have the most influence over how contributions are scored.
Couldn't this lead to a large account, or a few large accounts taking over the platform and directing it for whatever purpose? Could this be comparable to the brigading that takes place on Reddit to squash content that a group of users doesn't agree with?
Now, if I'm simply not understanding the way this currency is suppose to work, please let me know your thoughts. I can take it.
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