Open Letter to @iamjosephyoung and CCN regarding Steem
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
Hello JRcornel, this is Joseph from CCN and Forbes.
I just read the letter and I have to agree, I think it was a careless oversight from my part.
I plan to write a full feature on CCN to properly explain Steem and its capabilities as a blockchain protocol. I have asked Ned Scott for an interview and he agreed, so I'll doing that very soon and publish something by next week.
I've also made a Steemit account after reading this and I read up a lot about Steem today.
Thanks,
Joseph
@hellojosephyoung, thanks so much for engaging on Steemit and looking to correct those inaccuracies! I'm Steemit's Content Director and would happily answer any questions you might have with respect to steemit.com, Steem, or the differences between them. My e-mail is [email protected]. Welcome to Steemit!
I appreciate that, I'll definitely contact you via email soon and hopefully we can stay in touch for future coverage and articles. Thanks for the warm welcome :) seems like the Steemit community is very friendly
Best community on the internet :) Talk soon
I agree, @andrarchy . I'm co-admin of The Writers' Block, and our sub-community is a force of nature. We just incorporated a publishing house set to be the first crypto-based publishing house in the industry. We have a full staff of editors, a legal team, and now we're in talks with a marketing team with eyes on an SMT. All of this is possible because of the Steem blockchain, and Steemit, Inc., which brought us all together.
That is fantastic. Thank you for your reply. Oh and by the way, sorry if my letter came off as a bit harsh. Upon re-reading it, it was a little harsher than I intended it to be. :) Welcome to Steem and Steemit and I look forward to reading your next publications on steem!
Hey , @jrcornel , i noticed that many users doesnt understand the concept of steem witness , so i made a comprehensive content to help users understand and how to vote witness also check it out please curate to encourage the hardwork , resteem if the content is usefull for other users...
https://steemit.com/steemgigs/@blackempror/a-fully-comprehensive-user-guide-on-who-is-a-witness-and-how-to-vote-your-witness
Wow! I am incredibly impressed that you responded to this by doing more research and finding out that you were mistaken. Everyone makes mistakes. It is how one addresses those mistakes that shows his/her true character.
Welcome to the platform!
Ok to clarify. It seemed the contest would concluded when the post paid out, then I asked you about it and you said Friday. I looked and saw there had been no payouts in your account for this contest and also saw no posts about it . I am new here and I don't know who on here is just trying to drum up eyes for their work and who keeps their word yet. I have seen other contests not get paid out. I have never seen you before this, so I didn't know. I was just going by the fact that it seemed to get pushed by and I didn't see or hear anything about it.
I think this comment may have been meant for someone else. I am not running any contests.
There seems to be a new spambot that takes comments from one post and reproduces them on another in hopes of getting an upvote occasionally. They happened to hit me with one that I recognized.
Well that is a weird trick. Thanks for letting me know.
Great to see this response @hellojosephyoung. Thanks for taking up on the task on giving Steem a second look. Being here for 2 years now, I personally think it's a game-changing protocol, adding to the fact that it's hosting the most actively used apps in the cryptosphere.
If you interview @ned ask him if he can let me get a free Smart Media Token bruh bruh.
owned
This is excellent gesture. I think entire steemian community feels impressed with your intentions to learn more about it and then publish your impressions. And yes welcome to steem blockchain.
Could you please make an introduction post. I know u are are known personality in crypto world but that is how most of us start our journey here on Thisbe blockchain. Thnx
Welcome to Steem. I'm Aggroed. I'm one of the top 20 witnesses on teh Steem blockchain that have the authority to make changes to the steem protocol that everyone uses. I'm glad to have you on the blockchain. I run a weekly radio show on Sunday nights. If you'd like to come on and have a discussion about Steem in relation to other coins I'd welcome the conversation. you can find me in the Discord group I founded called the Peace, Abundance, and Liberty Network, which currently has 17000+ Steemians in it.
easy link is minnowpond.org. Let's connect.
what do you think about the proposed changes to equalize the voting power of all users? I have my thoughts, but I'd like to read what you think.
I think it will change everything on here. It is probably what is needed though in order to bring over many of the really popular vloggers and bloggers from youtube, instagram, and twitter.
This is exactly how awesomeness happens. Someone with high social credibility uses their platform to talk about something, makes a few mistakes and then is corrected by a user... But then has the balls to admit the mistake and do more research to fix the problem and learn more about that particular issue. Well done on all parts, great team effort here
Go get em @jcornel 👍🤓👍
Giddy-up!
XXthats okay
This is awesome. Glad to see he responded!
This is a very good clarification and I hope the original author takes your points to heart. Thanks for posting it.
Thank you Tom. Hopefully it didn't come across as too harsh. :)
I think all these will be sorted as time goes on.
thanks for the info :)
Thanks for pointing out the inconsistencies @jcornel. It's amazing how many dApps run on Steemit! I didn't know there were ones like Utopian and Steepshot. I love how Steem processes more transactions than all other top blockchains combined. We are going to see a big exponential boom in Steem within the next 2 years.