What is Narrative
Narrative proposes to be a competitor of Steem by creating a system based on the economy of content: “In the Content Economy, users govern the system, with each user’s contributions and actions, influenced by overall reputation, impacting the economic reward. The economic motive is to reward all users who add value. Narrative uses blockchain technology as the basis for a content currency, creating tangible value around user-generated content.”
How it works
Reputation scores and content ratings ensure that “bad eggs” have minimal impact and that quality users and content rise to the top and are rewarded the most.
Narrative members have management authority of all content. Content is owned by users, moderators are elected, and a user-elected Tribunal is the final authority on all issues related to content and data on the network. Every ad that appears on the network is subject to community approval, as well.
Narrative is a completely transparent system. All actions of authority (moderator actions, Tribunal actions, etc.) are logged and published for all to see. All revenue-related transactions are also displayed. The financials of the organization will also be audited and published.
Although Narrative utilizes cryptocurrency to capture the economic value of the network, users do not have to have any understanding of blockchain or crypto. The service is completely free to use and rewards will be paid in either crypto or fiat currency.
Why it is interesting
- The founder status which grants some privileges starting 10 ETH funding.
- Hard cap a bit high but not too high.
- Team with impressive background.
- Serious competitor to the Steemit platform.