I am not satisfy with the way blockchain based social media platforms are performing.
Greetings friends!
This was the first one.
This was done again
No doubt, blockchain technology is one of the most important development in the world of computers and information technology. However, it is mostly being used to generate cryptocurrencies. So, its applications are limited so far. It is also not the best for fund transfer as it is slower and also more fee is payable on transfers compared to the fiat based systems.
Blockchain like Steem which hardforked into two parts-Steem and Hive, was revolutionary as its transaction speed is very fast and also there is no fee on fund transfer. Ideally it should have progressed a lot but it has become monopoly of a few powerful people who earns a lot while many others have no profit from it.
I am very disappointed to say this that the applications based on steem and hive are not up to the mark. They are not stable and the developers see no future prospective here. Splinterlands was one of such project which is still used by many but the user base is very small, despite being driven by bots and multiple accounts of the promoters etc. Players and investors find themselves being duped. I am one of the investor and player. So, what I am saying is not baseless. This is forcing me to sell my splinterlands stake and invest more on hive. I am powering up my account as you can see in the above screenshots.
Despite all the shortcomings, there are a few things that make me hopeful to some extent. I am positive about Hive. That's why I powered up this month as well. At first I power up with 15 HP. Then changed my mind and powered up again with 100 HP. So, total power up was 115 by me.
Thanks!
Congratulation ON power up. Nothing is perfect here but we have a hope and that it to grow with time. We have nothing to lose.
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The downside of any application is that is has a lifespan. There is the initial launch, the hype phase, the use phase, the loyalty phase and then the legacy phase. How fast an application goes through these phases can vary, depending on how much relevance it can muster, but all apps will eventually die off. The way you keep an economy going is to keep innovating and developing new products to replace those that move into loyalty and legacy phases. This is why capitalism thrives on competing products.