Yesterday, you (Joseph Young) wrote an article for CCN where you mentioned Steem several times, however, there were several inaccuracies.
First of all, let me start by saying I am a big fan of yours. You routinely have great information as it relates to Asia and the happenings in the Asian crypto markets.
Your work as a reporter and also as an influencer is top notch.
However, your most recent write up for CCN left a lot to be desired, especially where it concerns Steem.
It can be seen here:
https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/
In this post I'd like to go over some of the inaccuracies mentioned in your write up.
Let's begin.
Joseph Young writes in the CCN write up:
"The addition of Steem in the top five rankings of the Chinese government’s blockchain network was unexpected by the community because unlike Lisk and NEO, Steem is not a base layer blockchain technology that can be used to create decentralized applications. Steem is a content distribution platform based on the blockchain with a primary purpose of distributing content. Essentially, Steem is like Reddit based on the decentralized blockchain."
(Source: https://www.ccn.com/china-ranks-ethereum-as-the-worlds-best-blockchain-network-bitcoin-at-13/)
Lets break that down a bit.
"Steem is not a base layer blockchain technology that can be used to create decentralized applications."
Steem actually is and is intending to become even more so!
If you have been following Steem at all over the last 6 months you would have heard about them preparing to launch SMTs (Smart Media Tokens).
These tokens will operate similar to ERC20 tokens in that it will allow companies/businesses/communities etc. to launch their own coins based off of the steem blockchain in order to tokenize just about anything they want.
More about SMTs can be found here:
I encourage you to take a look at that website as it really is pretty impressive what they are trying to do.
"Steem is a content distribution platform based on the blockchain with a primary purpose of distributing content."
Steem is a blockchain not a content platform. Steemit.com is the flagship social media application that has been built on top of the steem blockchain that I believe you are referring to.
Steem = blockchain
Steemit.com = website
Easy to make that mistake, many people do.
"Essentially, Steem is like Reddit based on the decentralized blockchain."
Again Steemit.com is like Reddit, not steem, but we are splitting hairs here.
The reason it is important to make that distinction though, is because Steem really is a fabric that can be built on top of while Steemit.com is simply just one of many websites built on top of it.
Which leads me to my next point...
"The Chinese government ranked Steem, which has a single application on its blockchain network that is a content distribution platform, as the 2nd best blockchain."
Steemit.com (not steem) is one of MANY apps currently running on the Steem blockchain.
Take a look at this:
(Source: https://steemit.com/steem/@steemitblog/1-000-000-steem-accounts)
This is just a list of the largest and most popular apps, there literally are hundreds of apps currently running on the Steem blockchain.
A far cry from being a 1 trick pony like you mentioned in your write up.
Oh and one more thing, Steem is currently producing close to 2 million transactions per day. That is more than all other blockchains, COMBINED.
(Source: https://blocktivity.info/)
If that is not impressive enough, take a look at the CUI (capacity utilization index).
Not only is Steem handling the most transactions of any blockchain, but it is doing so without even breaking a sweat!
Compare that with say Ethereum, which is the 3rd most active blockchain, and it is already at max capacity with over 30k unconfirmed transactions.
Final thoughts:
Yes I understand that you may disagree with the rankings and that you were mostly just trying to defend bitcoin as you didn't feel it deserved to be ranked all the way down at number 13. I agree with you there.
Bitcoin likely should have been ranked higher.
However, your attempts to discredit the rankings due partly to the high ranking of Steem was uninformed to say the least.
You are free to dislike Steem for any number of reasons, but you need to at least understand the facts surrounding it if you are going to report on it.
Not fully understanding something you are publicly writing about, while having a position of influence like you do, is borderline irresponsible.
I hope this post finds you and it causes you to take a deeper look into Steem as I think a lot of people are missing the potential here.
Here is a link to Joseph Young's twitter: https://twitter.com/iamjosephyoung
Feel free to let him know the things he got wrong about Steem in his recent CCN write up.
Stay informed my friends.
Follow me: @jrcornel