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Steemit, a distributed application designed to reward content creators, has fired 70% of its staff citing "the weakness of the cryptocurrency market, the immediate return on the automated sale of STEEM and the increasing cost of using of complete Steem nodes ".
The remaining team will focus on reducing server costs by reducing the size of the Steemit blockchain and gradually slowing the dependence on Amazon. AWS instances.
Founder and CEO Ned Scott wrote:
We continue to believe that Steem can be by far the most cost-effective blockchain protocol, and that the improvements resulting from this new orientation will make it much better for the durability of applications. However, in order to continue to improve Steem, we must first control costs to remain economically viable. I want nothing more than to survive, keep steemit.com alive and keep the mission alive to create great communities.
Steemit became one of the first functional decentralized applications and allowed users to submit content and pay content creators. Steemit, STEEM, has fallen 96% from its all-time high and is currently trading at $ 0.37.
Steemit follows Civil in the decentralized toilets, because the idea of idealized decentralized applications is inspired by the volatility of the cryptography market. Civil, for example, has promised to pay reporters for their work and a number of organizations have created Civil-based payment programs for writers. However, with the fall of crypto, these organizations withdrew, sometimes cutting wages by 70%.
I asked for clarification on the number of layoffs and future plans for Steemit's product.
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