Very good points here... Interested to hear the answers. It doesn't do us much good to build things if there is a high probability no one is going to use them.
RE: Proposal: Development of STEEM Side Chain (STEEM VM) STEEM Layer 2
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Proposal: Development of STEEM Side Chain (STEEM VM) STEEM Layer 2
When evaluating the current state of the STEEM ecosystem, it’s evident that even if STEEM-based dApps are developed, the actual number of active users is likely to remain limited to around 100–200. This is a very small user base, and considering the costs and time required to develop a dApp, it’s highly unlikely that any team would invest in creating a service targeting such a small audience. As a result, many projects either rely solely on DAO funding or leave the STEEM ecosystem neglected altogether.
Moreover, building a project on STEEM faces fundamental challenges. For instance, to reward users, projects need to provide STEEM tokens. However, the source of these tokens often remains unclear. Additionally, even if projects can offer STEEM rewards, they would need to guarantee a return on investment (ROI) higher than what Vote bots offer to attract users. This is an incredibly difficult task and has proven to be a significant roadblock for many projects.
This is precisely why the Layer 2 system is essential for the STEEM ecosystem. While the demand for supply exists, the current development environment does not allow this demand to be fulfilled. A Layer 2 solution can address these challenges in several ways:
Improved Development Environment: By enabling features like smart contract support, Layer 2 systems allow developers to create dApps more efficiently and effectively.
Optimized STEEM Utilization: New economic models introduced by Layer 2 systems can overcome the limitations of the current STEEM-based reward system.
Ecosystem Activation: By improving the development environment, more projects will be launched within the STEEM ecosystem, naturally driving increased user engagement.
In conclusion, a Layer 2 system is critical for the growth and sustainability of the STEEM ecosystem. It bridges the gap between supply and demand, enabling a more robust infrastructure for projects and users alike, ultimately revitalizing the STEEM ecosystem.
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I see. Thank you. Do you think a layer 2 system will actually be used by many projects or developers? Will it need to be marketed?
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When Layer2 is developed, an environment will be created where many developers can develop various dApps through the token reward system. You can also develop meme coins like PUSS.
If this environment is created and there is a dApp with a good idea, you can support it through DAO.
The success of the project will depend on the ecosystem and support.
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