I think most of our peers agree that there are amazing developers on both projects. The real difference between the projects is in approach. Ethereum is taking an application general approach to their protocol, whereas we're taking an application specific approach. A good analogy is between Linux (application general) and iOS (application specific). Ethereum is trying to be everything to everyone and in the process not doing anything particularly well for specific developers or entrepreneurs. The application specific approach is to basically say, "What are the 20% of possible features that account for 80% of the features which are actually leveraged by real developers and entrepreneurs?"
The application general approach basically treats all potential features equally and results in 80% of the engineering bandwidth being consumed by the 20% of features that no one actually uses. By choosing the application specific approach we can focus intensely on product-market fit. The single biggest use case for Ethereum is launching an ERC20 token. But ERC20 tokens don't DO anything. People use them because they're basically the only option. They don't do anything because no one else in the space has experience creating tokens with built-in distribution mechanisms that are capable of functioning at scale because no other blockchain protocol is yet capable of functioning at any kind of scale.
Entrepreneurs want tokens that work, that are safe, that are ungameable, and have all the Smart Contracts they want pre-audited and built into the protocol (ICOs, Founders Tokens, Token Emission Rates). With respect to these needs of entrepreneurs, yes Steem is better than Ethereum ;).
I think most of our peers agree that there are amazing developers on both projects. The real difference between the projects is in approach. Ethereum is taking an application general approach to their protocol, whereas we're taking an application specific approach. A good analogy is between Linux (application general) and iOS (application specific). Ethereum is trying to be everything to everyone and in the process not doing anything particularly well for specific developers or entrepreneurs. The application specific approach is to basically say, "What are the 20% of possible features that account for 80% of the features which are actually leveraged by real developers and entrepreneurs?"
The application general approach basically treats all potential features equally and results in 80% of the engineering bandwidth being consumed by the 20% of features that no one actually uses. By choosing the application specific approach we can focus intensely on product-market fit. The single biggest use case for Ethereum is launching an ERC20 token. But ERC20 tokens don't DO anything. People use them because they're basically the only option. They don't do anything because no one else in the space has experience creating tokens with built-in distribution mechanisms that are capable of functioning at scale because no other blockchain protocol is yet capable of functioning at any kind of scale.
Entrepreneurs want tokens that work, that are safe, that are ungameable, and have all the Smart Contracts they want pre-audited and built into the protocol (ICOs, Founders Tokens, Token Emission Rates). With respect to these needs of entrepreneurs, yes Steem is better than Ethereum ;).
I was surprised with such an excellent answer and after checking your profile I realized you are the "Content Director for Steemit" haha!
Thanks for taking the time to give answers like that man! Really appreciate it!
STEEM is light years ahead of ETH from a technical point if view...at least right now.
3 second transaction time.
Zero fews
100K trans per sec potential
ETH is working on getting past 25 transactions per second.
Plus there is no built in content reward system like with STEEM.