Synereo will definitely be competition.
Comparing the source-code for both platforms, Synereo seems to have a competitive advantage for a number of reasons. One, its made in Scala which is certainly more readable than C++ which steemd is built on. Two, transactions are more abstracted than Steem. Steemd seems more coupled to the functionality of steemit. for example, the "trending" and "popular" categories are part of the steemd api. This seems to me like an application implementation, not a blockchain daemon function.
I am closely watching both and will be excited to see how each platform grows.
Interest what you day about the source code. I don't know enough technically to comment either way on the validity of what you say. However I do know that sometimes 'technically superior' products don't always win the day. There are other factors, timing, marketing, network effect etc., that tend to trump the product.
You are right, it will be interesting to see how this develops.
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