eSteem:
After yesterday's analyis of Zappl, a relatively new enterprise within the Steem environment, today I turned my attention to a more mature platform: eSteem.
eSteem promotes itself as an "Application to get paid for blogging, curating and more...". One of its main marketing points is that it provides a mobile app, allowing users to post and comment on the Steem blockchain whilst on the go. This differentiates it from other Steem platforms, such as Steemit and Busy.org, which to date have been browser based.
eSteem launched back in 2016 so has already been in operation for over a year. Over this period it has built up a significant user base of active bloggers who generate thousands of articles and comments every day. Given the size of the data volumes involved I have restricted the scope of this analysis to the month of November.
Like many Steem platforms eSteem receives beneficiary revenues from every article and comment. For eSteem these are typically at 5% of the author payout (although this level has differed in the past). In this analysis I will look at the revenue stream generated by these beneficiary payments. I will also look at user numbers, articles volumes, and trends in these measures.
This analysis is targeted at:
- Users of the steem network who may be interested in knowing more about eSteem use stats.
- Open source developers seeking to understand the level of revenues that may be generated by platforms based on the Steem blockchain.
The views in this article are my own. I have no affiliation with the eSteem team. The numbers in this article have been produced by an analysis of the Steem blockchain (as described below) but have received no independent verification and as such should be treated with care. If you are aware of any errors please note them in the comments and I will endeavour to make any necessary adjustments.
eSteem post numbers and user base
The following chart illustrates the level of user activity on the eSteem platform.
- The number of main posts ("Articles") published per day are shown in light blue with the number of individual authors in dark blue.
- The number of comments made per day are shown in yellow with the number of individual commenters in orange.
- There were approximately 37000 articles published over the 23 days by 3500 individual authors giving an average of 1600 articles per day.
- There were approximately 51000 comments published over the 23 days by 3000 individual commenters giving an average of 2200 comments per day.
- The levels of all four user measures are very steady with only a slight decline in comments over the last three days of the analysis period.
eSteem revenue stream
eSteem receives beneficiary revenues from articles and comments made on the platform, typically at the level of 5% of the author rewards. This benefaciary revenue is the only income stream considered in this analysis; any other sources of revenue, such as author or curation rewards earned from articles or comments written of upvoted by the eSteem team, have been excluded.
The following chart shows the author, curation, and eSteem benefaciary rewards for all posts (articles and comments) arising from the eSteem platform.
(Rewards accrued for the last seven days have been estimated using the pending payout amounts reduced by an average curation factor and adjusted for the beneficiary percentage. Posts made in this latter period are still "live" and rewards may continue to be gathered until the seven day reward period is complete. This will be one reason behind the lower revenues over the last few days of the analysis period).
The eSteem beneficiary revenues are separated out in the chart below:
The revenue stream is stable, as would be expected from the user activity numbers, with an average revenue of approximately $75 per day.
Distribution of revenues per user
The pie chart below demonstrates a small reliance on larger users for the platform. The wedges represent groups of ten users ordered by size of revenues generated (the top ten users, users 11-20, users 21-30 and so on for the first 150 users). The largest wedge represents all other users.
- Around 50% of revenues are generated by the top 150 users.
- The remaining 50% of revenues are generated by the remaining 4350 users.
Conclusions and further analysis
- The users numbers are high; this is likely to be a significant proportion of active steem users.
- Revenues are solid and steady. It will be necessary to extend the analysis back over a longer time period to reach a better understanding on the level of growth.
- Further analysis on the overall level of active users of the steem network would be useful to put the use figures in perspective.
Methodology and Tools for Analysis
Raw data was obtained through sql queries of the Comments table in steemsql (thank you as always @arcange!) using Valentina Studio. Data was analysed in Numbers, the mac spreadsheet tool. Data was obtained for the time period shown in the charts above.
Given the volumes involved (and the experienced gained from yesterday's study) I ran only one query to obtain the required data:
- A query seeking posts with beneficiary "esteemapp" within the Comments.beneficiaries field.
90,370 records in November (including those for 24 November which were excluded from this study).
Questions
If you have any questions on this analysis, please drop me a note in the comments. Alternatively if there is an analysis from the steem blockchain you would like to see carried out, please let me know.
That's all for today. Thanks for reading!
Posted on Utopian.io - Rewarding Open Source Contributors
Thanks for your detailed report! We are expanding our services starting with Activity manager, private chat, stickers market etc. to grow userbase even more and provide much better user experience. Stay tuned for future releases and announcements!
Hi there @esteemapp, I would love to use the app, but I prefer using a desktop version. When will it be available? Also, how can I get eSteem tokens on Bitshares to invest in your team and projects?
Hy sobat postingan anda sangat bagus dan menarik sekali sanya sangat suka dengan postingan anda.
Thanks! I will do!
thank brother vot
sorry mas I nupang nanyak why my post is never in upvoted
Terimakasih sudah menyukai berita yang sudah saya naikkan. Semoga silaturrahmi kita terjaga dengan baik
thank you master
It's not fair :D
@valikos - life isn't fair, especially if you want to compare it using numbers :D
The analysis also doesn't take into account any of the time / expenses / investment required to develop the apps.
Great analysis. I know that eSteem has a few bots that sometimes provide upvotes to users when they post from eSteem.
Have you thought about breaking down the user's author rewards for what portion is from eSteem bots vs. other users?
Hey. Thanks @josephsavage, great suggestion!
There's definitely an interesting study to be done there (although not an easy one to do). I've never looked at the bot upvotes you get by posting from eSteem. Are they on every post? Or something like once a day?
I haven't done close analysis on it. They don't come in every post, but if you're using it regularly they come in once or twice a day. It looks like they use a winfrey-bot that only upvotes on eSteem posts with some time factor between posts.
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STOPThank you.
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Great analysis. i do know that eSteem incorporates a few bots that generally give upvotes to users once they post from eSteem.
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