Voice to Compete with Better-known Steemit
EOS was launched 2.5 years ago to date, by a team known as Block One. Since its inception EOS has been a rival to slightly better known Ethereum.
Both platforms share a lot of similarities and a few differences. Both are smart-contract based blockchains. Both have initially been funded via a token sale and both are looking to increase their usability.
Since EOS's launch a few new contenders other than Ethereum have risen. This includes Justin Sun's TRON and Binance Coin. In order for EOS to remain relevant in this new competitive field, they needed a highly functional token on their network. It seems like their announcement a few hours ago that has been released on Twitter and elsewhere might just fill requirement.
Block One and EOS have announced a new token and Dapp called Voice that will run on their blockchain. Voice will be a decentralized social media platform that will reward writers and content creators for popular posts. Voice will operate in a very similar manner to Facebook or Twitter but will be blockchain based.
Voice will provide EOS with another level of functionality and use besides gambling Dapps and non-fungible token games in the style of Crypto Kitties.
Similar to Steemit?
Steemit bears quite a lot of resemblance to Voice and it is not by chance. Number 63 on the list of top cryptocurrencies by market cap, Steemit is also a blockchain based social media platform. Their platform bears a lot of resemblance to Reddit and has been growing in popularity.
Steemit was founded by Ned Scott and Dan Larimer. Larimer left Steemit during 2017 and later co-founded Block One.
It seems no surprise that EOS would like to recreate the success of Steemit on their blockchain. The platform would extend EOS's functionality and compete with other successful Dapps, like TRON's Bittorrent token.
Only time will tell if Voice will overtake Steemit. For now, it seems that EOS fans aren't that excited by the announcement. EOS took a bit of a blow in the markets and prices are down 4.95% during the past 24 hours.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado