Charles Ryan, creator of the upcoming launch Yours decentralized social network, expressed doubts about the long-term success increasingly popular Steemit platform, and explained why his team instead of relying on their own cryptocurrency Bitcoin.
Yours is often called a decentralized version of Reddit, and the main feature of the new platform should be a system of financial incentives for content creators, who will be able to receive payments in Bitcoins.
Starting platform already postponed several times because developers want to release the most mature product, but the process has been carried out and rebranding - previously anticipated that the network will be named Datt.
Yours While still under preparation, on the horizon appeared Steemit - another social network with a system of financial incentives for content creators. However, unlike Yours, it relies on its own tokens Steem.
In his latest blog entry said Charles Ryan, why his project is to give preference to Bitcoins.
"Ever since we announced the launch of Yours, the community that will help content creators receive micropayments in Bitcoins, one of the main questions was:" Why Bitcoin "Some well-meaning people offered us to make your own blokcheyn saying it saves us from having to solve problems inherited Bitcoins, will allow to have full control over the technical side of the issue and make a profit from market speculation. These are good arguments, but we believe that they do not take into account the complexity of creating a new blokcheyna a complete zero and scaling it to reach a wider audience, "- says Charles.
Further, he notes that using Bitcoin, the project receives all the benefits of a technical ecosystem largest blokcheyna, including its open source code, documentation, standards and the API, as well as all the benefits of the social ecosystem, including companies and experts.
Greenfield blokcheyn insists Charles, if any, does not have any ecosystem or the ecosystem so that extends to the degree to which it allows Bitcoin.
"But all this theory, - said Charles, moving on to the issue of competing social networks. - New project Steemit uses the same approach that we have identified as broken. They created their own blokcheyn and customize it to fit the needs of their community. They quickly grew and now has one of the most valuable cryptocurrency in terms of market capitalization. So far, what we see works - content creators are rewarded. "
"But, although we a joy to see that social media blokcheyne to become a reality, we fear that Steemit long endure. The burden to establish not only the community and technical platform, but also a new cryptosystem and supporting its economy, is incredibly hard. I see a problem with the security and scaling their blokcheyna because they have a very small team with proper incentives to address these issues. "
At the same time, Charles Ryan said that Yours team is fully focused on challenging technical problems Bitcoin, because it wants to give the opportunity to all inhabitants of the planet the opportunity to earn on their content.
"Our bid is supported by a huge number of open source contributors and service companies Bitcoin. We do not need to do all the work yourself - we can rely on the network effect blokcheyn largest community. Yes, this is all in theory, but we do a lot of work to make it all a reality ", - said Charles.
It is noteworthy that his views on the long-term future Steemit Ryan Charles shared a few hours before the night of Friday, the social network has been attacked. As a result of hacking hackers gained access to 260 accounts, stealing about $ 85,000 in tokens and Steem Steem Dollars.