Steemit is a social media platform and content-focused blockchain that was founded in 2016. It operates on a decentralized system where users can publish posts, comment on others' posts, and receive rewards for their contributions in the form of the platform's cryptocurrency, STEEM.
Decline in User Activity: There has been a noticeable drop in the number of active users on the Steemit platform in recent years. According to available data, the number of daily active users on Steemit has declined by over 90% since its peak in 2018.
However, since its inception, Steemit has faced several challenges and controversies that have affected its growth and popularity. In the recent past, there have been reports and claims that Steemit is dying. Some of the factors contributing to this perception include:
Lack of Development Progress: Steemit has not been able to keep pace with other social media platforms in terms of new features and functionality. As a result, users are turning to other platforms that offer a more robust user experience.
Community Fractures: The Steemit community has been plagued by internal conflicts and disagreements over the direction of the platform. This has resulted in a fragmented user base, with some users leaving the platform altogether.
Competition from Other Platforms: The growth of alternative social media platforms, such as Medium, has led to increased competition for Steemit. Many users are gravitating towards these platforms, which offer a more user-friendly experience and a larger community of users.
In conclusion, while Steemit has faced several challenges in recent years, it is too early to say that the platform is dying. However, it is clear that the platform needs to address its current challenges and make significant improvements in order to remain relevant and competitive in the rapidly evolving social media landscape.