Page 74 - Understanding EOS TojuKaka FlipBook

centralized exchanges were an avenue for
government, regulators or other bodies to sanction or
attack cryptocurrency exchanges. Bitshares is
currently run by a decentralized autonomous
community. The idea of a “decentralized autonomous
community” or DAC was also invented by Dan.

Steemit is one of the few cryptocurrency applications
(dApps) that ever got close to mass adoption. It is
powered by the Steem blockchain. Steem was able to
attract a lot of users by rewarding them with
cryptocurrency tokens which they can convert to cash
whenever they made a post, made comments or liked
other people’s posts.

The fall in the price of Steem due to the bear market
of 2018 and 2019 made a lot of bloggers to stop
posting on Steemit but its premier success cannot be
denied. Dan Larimer left Steem due to disagreements
between him and other stakeholders on how to
continue developing the platform.

With experience from Steem and Bitshares and an
amazingly talented team at block.one, Dan is building
the EOS.IO software to be the most scalable, and
___
74