I’ve heard enough fud lately about Steem to understand just how deeply the confidence of many users has been shaken. First by the “first million users don’t matter” rhetoric we heard echoing down from on high, then the wobbly hardfork and drama upon drama upon drama…I do understand why, in its current state, Steem does not make an attractive proposition for most businesses looking for web-based marketing solutions.
Those of us with Steemhouse Publishing come at this from a different perspective. We’re not overly concerned about the fud, because not one bit of it affects our long-term plan. All we need is the workhorse of a blockchain that we have now to continue being the workhorse of a blockchain it was designed to be, and we’re golden.
Many reading this might be tying to learn more about Steemhouse Publishing and may not know what a blockchain is. That’s to be expected, so no worries! It’s new technology, a form of electronic ledger that is distributed all over the web rather than in a single, “centralized” location. This makes it extremely secure, with multiple redundancies to the point that the entire internet would have to fail at the hardware level for it to cease working. This is a very oversimplified explanation, but that should give the average non-tekkie some context.
Blockchains are so secure and reliable that they’re frequently used to back cryptocurrencies like Bitcoin, or in the case of our blockchain, Steem. Not only is stability important, however, but so is speed of transaction and the number of transactions a blockchain can process. This requires serious computing power and a series of “nodes,” or devices that each have a current copy of the digital ledger or Blockchain. Each node verifies each transaction and they all agree or disagree that the transaction is valid. If an attempt to alter, or “hack” the information is made at any point on the chain, all of the nodes still have the original data and will reject the change as being invalid. Steem has operated with a bare minimum of RPC and seed nodes since its inception. Yet it outperforms all other blockchains in existence, with a three-second transaction time and no fees. Imagine what it can do with twenty full RPC nodes and a battalion of seed nodes. The scalability of Steem is virtually unlimited. We will never outgrow it.
One other great appeal to us about the Steem blockchain is that it was launched by a U.S. company operating under domestic laws and jurisdictions. Regulation may be undesirable for the anarchist crowd, but as a U.S.-based corporation itself, Steemhouse Publishing needs that kind of establishment. Other blockchains that are introduced by offshore companies may have similar technology, but lack the extra benefit of being influenced by the same commercial laws that govern Steemhouse.
What about the drama, though? The bots? The flag wars? The whispers of pre-mining and collusion among Top Twenty witnesses? Yes, that stuff will still happen. But we’ll have our own front-end interface called Wordrow that is quality controlled and free of those things. That way when mainstream readers come to find good fiction and good, relevant articles, all they have to do is read. They won’t have to know what witnesses are. They won’t have to understand the difference between a hardfork and a salad fork. They don’t have to worry about Bitcoin being the currency of thieves. All they have to do is read and enjoy.
This will provide some of the better optics needed for Steem to obtain mass appeal and mass adoption. Right now it’s the Wild West. But look what the American Wild West eventually turned into. Somebody had to be there first to stake those claims. And we at Steemhouse Publishing thank our lucky stars every day that we were here first to carve out a territory for mainstream fiction on the blockchain.