In my opinion, blockchain-based social media platforms offer so many more benefits than legacy platforms. They are more private, transparent, and enable users to earn rewards. One of my favorite aspects of blockchain-based social media platforms is that they are innovative and many different platforms are trying different approaches to help their platform succeed.
One way that platforms encourage user interaction and help build equity in the platform is by allowing users to “stake” their rewards and invest them back into the platform. When a user stakes their rewards, they give up some liquidity in exchange for more influence on the platform. Some sites such as Steemit allow these staked rewards to be converted back to more liquid tokens whereas other sites, such as Uptrennd do not. In this video, I analyze why the non-recoverable staking system might have an advantage over the recoverable staking system for ensuring that the site’s users remain active and engaged with the platform.