Exploring Downvoting in Blockchain-based Online Social Media Platforms

In recent years, Blockchain-based Online Social Media (BOSM) platforms have evolved fast due to the advancement of blockchain technology. BOSM can effectively overcome the problems of traditional social media platforms, such as a single point of trust and insufficient incentives for users, by combining a decentralized governance structure and a cryptocurrency-based incentive model, thereby attracting a large number of users and making it a crucial component of Web3. BOSM allows users to downvote low-quality content and aims to decrease the visibility of low-quality content by sorting and filtering it through downvoting. However, this feature may be maliciously exploited by some users to undermine the fairness of the incentive, reduce the quality of highly visible content, and further reduce users' enthusiasm for content creation and the attractiveness of the platform. In this paper, we study and analyze the downvoting behavior using four years of data collected from Steemit, the largest BOSM platform. We discovered that a significant number of bot accounts were actively downvoting content. In addition, we discovered that roughly 9% of the downvoting activity might be retaliatory. We did not detect any significant instances of downvoting on content for a specific topic. We believe that the findings in this paper will facilitate the future development of user behavior analysis and incentive pattern design in BOSM and Web3.