Evolution of steem and the steem ecosystem - a promising development

in steem •  3 months ago 

HVOTE 20.01.2020.png

The Steem World we are in is constantly evolving and during 2019 the evolution of this world wasn't that promising. We had downvote wars that were fought between users. We had a big price dip for steem and we had a lot of people who stopped posting.

Stabilisation of the ecosystem

As of today, I would say that this negative tendency has stopped and the life on the steem blockchain has stabilized. To affirm this, I would like to use two interesting indicators.

Alexa Rank of Steemit.com

The first indicator to measure life on the steem blockchain is the Alexa Rank of steemit.com. Steemit is still the major platform of the steem blockchain with a Rank of 14'000. Steempeak is growing steadily and it's Alexa Rank is now around 48'000. The Alexa Rank is an indicator that shows how popular a website is compared to all the other websites. The higher the rank, the more popular it is. Alexa Rank is built on certain parameters like the number of visitors and the number of pages visited. It is therefore an interesting indicator to see how steem is evolving.

In the graph below you see the evolution of the Alexa Rank of Steemit.com during the last 3 months. It passed from 10'600 to 14'000. At it's best steemit was in the first 4000. This negative evolution seems however to have stopped and the rank has remained stable during the last weeks.

image.png
source: https://www.alexa.com/

Number of posts and number of authors

The second indicator to evaluate life on the steem blockchain is the evolution of the number of posts and the number of authors that are actif on steem. I take this evolution from the website https://tool.steem.world/Post/Stat.

image.png
source: https://tool.steem.world/Post/Stat

When looking at the evolution of the number of posts, we can again see a certain stabilisation, in the last weeks even a little regain of activity which I find encouraging.

Regain of activity

A part from these objectif indicators, there are also subjective aspects that can inform us about the evolution of steem and the steem ecosystem. What is nice is that there are new projects in the pipeline that are interesting:

Payment processor for steem and steem-engine tokens

The very active CTP community and its leader @jongolson has developped a payment processor called Fire-Way which allows site owners to accept the steem-engine CTP Token or Steem as payment for services and products. In the future it might be possible to pay with whatever steem-engine tokens available!

A new game in the starting blocks

Holybread a new steem based RPG Browsergame that will be launched on 27.1.2020.

Steem price spike

During the last days the price of steem has taken a very interesting journey passing from 0.14 USD to 0.22 USD in less than a day. It has been very long since we had a surprise this way round ;-)

The changes have been applied and the community has consolidated

After the much mentioned hard fork, steem had to find a new path and the userbase had to adapt to it as well. Many users left steem but the ones that remained represent a core of people that are quite comitted to steem. I see encouraging signs for the development of steem and I think that we will soon start to grow again!

by @achim03

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Hi dear @happyvoter

interesting post. I believe that these indicators should be taken into account and I thank you for the good analysis you offer us.
My interpretation is that these rebounds indicate the beginning of a new stage and an improvement in general, I suspect that this is preparing us for the SMT that is on its way. I am optimistic and I am convinced that the price of Steem is going to overcome the $ 1 barrier.

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Thank you very much for your comment. I share your view and I hope that we will soon see steem prices close to 1 $.

Best regards,
Achim

@happyvoter, Ecosystem of Steem is filled with diversified aspects which brings up diversified User Experience.

One thing is for sure and that is, Steem Blockchain can be called as Chain Of Opportunities. Stay blessed.

Posted using Partiko Android

Thanks a lot for your comment. I like what you call the "chain of opportunities" - I quite agree with that ;-)

Welcome and thank you. 🙂

Chain Of Opportunities

I like it :)

Thank you brother. 🙂 👍

Greetings dear @achim03.

These Alexa indicators are truly representative.

It would be very interesting if Steem Inc. signed up for the service to get "certified statistics" from Alexa and so we could see periodic publications of these results.

The descending curve in the month of September called me a lot. What would have been due to this? Any ideas?

Your friend, Juan.

Hi my friend,

The descending curve in the month of September called me a lot. What would have been due to this? Any ideas?

I think that it has to do with the hard fork and the changes with downvotes that really reduced activity in automn. I think now it is more stable and could develop again the other way around.

Exactly! You´re right.

I see some serious fundamental problems in "Steem World":

  • Most users can't earn anything, so the "mass adoption" has no sense for the masses.
  • For the readers, it is still difficult to find valuable content.
  • Downvote maniacs - One single orca or whale can make life of most people impossible, without any reason.
  • Onboarding is still difficult.
  • Most people don't know Steem exists.
    etc.
  ·  2 months ago (edited)

You make some very good points. I think one point that should be of particular concern is the affect that a continued shrinking of the user base will have on attracting key advertisers. Ad revenue is essential to the revised Steemit Inc. business model and as I am sure we are all aware, advertisers will expect good returns on their investments. This leads me to my final point. Growing the user base and retaining those who regularly produce content that drives demand will be vital in Steemit's efforts for long-term viability.

Steemit Inc. is selling Steem on a regular basis, witnesses, developers must sell to cover expenses. Poor people of Venezuela, South-Asia need every penny to eat. Some disappointed authors are powering down. Therefore, the declining trend of the prices is not over.
Who is buying? Does somebody know?

This has been true for a long time and the strong price decline of recent months is mainly due to whales who desinvest from steem. Once their sell off finished, it will be indicated by more stable prices which we see already. The price has been hovering between 0.12 and 0.14 Usd for quite some time and this lets me believe that the major sell off is already finished.

Thanks a lot for your comment. It is true that with more traffic, steemit.inc gets more ad revenue and doesn't need to sell so many steem which directly affects the price of steem. I also agree that we should grow the userbase in the long run and this challenge has to be faced by everybody here on steem.

Hi,
I totally agree with all your points and you are quite right to point these out. In order to solve this problem we need however a base of users that is comitted to the cause and that can find ways to solve these problems. Thanks a lot for your comment!

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Dear @happyvoter

Interesting read.
I fully agree with you, that the steem world and our entire community evolved and many things have changed. Mindset has been reprogrammed.

It's still to early to figure out which way is it all heading. On one side we have better quality content and many users have matured already and understand potential of steem blockchain. We have more businesses and developers looking into steem as well.

On the other hand, all those mentioned by you flagwars and recent fork were like tsunami. Userbase has shrinked and (correct me if Im wrong) is still steadily dropping.

Those graphs are amazing. Wish more people could see it. Surely it all does look very optimistic.

ps.
How many people joined holybread with your ref? Just curious.

Yours, Piotr

Hi @crypto.piotr,
Thanks a lot for your comment. I haven't had any refs for Holybread yet ;-)

I also see an overall positive sign that we have seen the bottom, now its time to get peoples attention. Looking on the price will only distract - price =/= value. Agree, number of active users and posts is much more important. Its time to unconditionally serve the user.

Thanks a lot for your comment. I agree with you that the number of posts and users is a better indicator than steem price.

It has definitely been an interesting year for sure. I started with Steem in January of last year so this month is my 1 year steemiversary, lol. The hard fork and downvote wars made me nervous on the platform and of course didn’t like seeing the huge price dip, but it happened to most cryptos, not just Steem so I just kept with it because over all, Steem as one of the biggest use cases of all cryptos next to Ethereum, sorry Bitcoiners...although I do still love ole grandpappy BTC. I love that Steem already has a working platform and works pretty well. It can be customized to all kind of different uses like @Actifit and other Dapps. So needless to say I am still super bullish on Steem! Can’t wait to see where 2020 takes us!

After the year we lived through I think it's great that you are still here on steem. This means also that you saw the amazing potential that lies in steem. For me steem is the blockchain that has the biggest potential of all. It's up to us to promote this blockchain to the world;-). Thanks a lot for your comment!