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RE: Powering Up Cryptocurrencies on the Steem Blockchain
So, this is some sort of derivative of other currencies that mean I get some sort of power in some other domain?
So like, I have 1 BTC, I'm not doing anything with it while I'm waiting for it to hit $50k so I lock it up in BTCPower and that lets me do what? Help me out here.
No worries, I'm also confused myself lol. The idea is to "share" other assets and have some parallel / concurrent distribution when people vote, something like that. See, most crypto projects out there don't have any convenient ways to reward their contributors in a social manner (other than through rigid cryptoeconomic incentives that their protocol provides for the purpose of distribution, and off-chain solutions that are not very immediate like voting on content on steem). I think its something that improves the notion of decentralisation, at least when it comes to supply distribution. In terms of having a derivate that grows in value over time, well that's another story.
Good Question