Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network by @emmy7924
Hello friend I greet you from the bottom of my heart. Happy New Month to you and your loved ones. Today seem to be my first time ever that am making a post in Steemit Crypto Academy Contest. In this contest, I have discussed about my favorite blockchain so let's get know about that my favorite blockchain now.
Tell us about your favorite Blockchain network, its history, and why it's your favorite.
Steem Blockchain Network is my favorite blockchain blockchain network. Steem is the only blockchain network that I cherish so much and the only blockchain network that I have used and invested both my time and money in indirectly. I was lucky enough to know about Steem blockchain network and its social media app which is known as Steemit in 2021 which was the same year that I started my crypto journey both as a writer in Steemit platform and as a crypto day trader in Binance and Roqqu exchange.
Steemit app is the first DApps that was built upon Steem blockchain so it is powered by Steem blockchain. Well Steemit is just like other social media platform that we all know plaform like Reddit, Twitter, Facebook etc that you can think of all have similarities to Steemit platform. The difference between Steemit platform and that of other social media platform is that Steemit is a decentralized platform that rewards content creator while the others are centralized platform that doesn't rewards content creators with anything instead content creators are the ones who rewards them.
In Steemit users are been rewarded with Steem, Steem Dollars (SDB), Steem Power (SP) and Tron TRX when they make a post that is been voted by other users or big whales that have greater influence in the platform.
History
Steem blockchain has several projects that is built upon the network. Some of these projects are Steemit, Dtube, Utopian and many others. In Steem blockchain network, Steemit is the first DApps that was created upon the network in 2014 by Ned Scott and Dan Larimer.
Ned Scott and Dan Larimer,both met each other far back in 2015. However, before they met each other the both of them were working in different companies. Ned Scott, was working with Global Group which is a food importation company in American and he worked with the company for 3 years before he left the company.
Dan Larimer has been a good software developer and blockchain developer before he met Ned Scott which they later created the Steemit platform together. However, after the creation of Steemit, Dan Larimer didn't stayed long in the company he left the company and before he left the company he was the company CTO.
Eversince, 2014, both Steem blockchain network and Steemit platform has witness a massive growth and today Steemit is regarded as one of the most trusted and social media blockchain platform that people can rely on.
Why Steem Blockchain is My Favorite
Steem blockchain network stands out to be my favorite blockchain network because is has done a lot of good in my life. I started my crypto journey with Steem coin and advanced my knowledge and understanding in cryptocurrency in Steemit platform. So Steem blockchain network is the background upon which my crypto knowledge came from.
Well apart from that there are a lot of reasons why it is my favorite blockchain network which I will list out some of the reasons why for you below.
With Steem blockchain network, I can earn Steem coin as a content creator in Steemit from original post of mind.
Both Steem blockchain and its first DApps Steemit are built for the purpose of providing a free financial services and opportunities for everyone to earn a living from the blockchain.
Transfer of Steem coin, SDB or what so ever transactions that is done in Steem blockchain are all free there is nothing like transaction fees.
Steemit is a platform where I can sell my products or render my services for Steem coin or Steem Dollars.
The blockchain and its social media platform Steemit are the only platform that teach users about cryptocurrency, blockchain, trading, Investments and many others for free and its even give users an assignment which they inturn get a reward according to they scores and club status.
I see a great success ahead of Steem blockchain and Steemit in the nearest future where companies we want to be advertising their products and services on Steemit platforms just as it's done in YouTube, Facebook etc.
Does the network has some earliest shortcomings and how has the network's team taken care of the problem?
Yes,Steem blockchain network has some earliest shortcoming in 2016 and the problem was taken care of in the same week. The shortcoming, was a hack attack that happened in steemit platform in 2016. The attacked was targeted to steemit users wallet, which about 260 Steemit users was affected. As of then, the most affected users was @dragonslayer109 an he was the same user that make the announcements.
What happened was a big shots to Steemit platform, because about $85,000 was stolen from various users account which the hacker transferred to funds to Bittrex Account. Thank God for dragonslayer109, who quickly announced the problem and immediately, Steemit team noticed about the problem they traced the funds and to where it was transferred to and retransferred it back to the various users that was affected.
What changes do you think would make the network better?
At first when I joined Steemit, I found it so difficult to post and also after knowing how to post, I started finding it difficult to earn from my post which was not funny for me. Then I became weak and lose the zeal of posting because rewards wasn't coming through but comments were all what I was receiving without vote.
The truth is that with all what I had experienced, I didn't gave up on Steemit instead I went for a break due to my busyness and I thank God that today there is a lot of changes in the platform, where there are many curators account now that is going round communities voting original contents that compiled to the rules of #club5050, #club75 and #club100 even the #steemexclusive stuffs are all the changes that I am praying to continue in Steemit platform.
Well apart from what I have said I think changes like allowing Steemians to write on the challenges or issues that they are facing will be a good way to also make the newtork better. I believe that there are several Steemians out that are facing some challenges which there are within for the right avenue just like this Engagement Challenge contest to write about them.
Write about a Project that is built on your favorite Blockchain
Steem blockchain network has so many projects that is built on the blockchain network and the most popular among some of these projects that is built on Steem blockchain network is Steemit DApps is most popular followed by Dtube and Utopian.
Steemit is the first DApps that was built on Steem blockchain network. Steemit as we all know is a social media platform that rewards content creators with Steem coin. There are three rewards that are given to users in the steemit platform such as;
Steem: Steem is the liquid currency that is use to reward users and it can be traded for other crypto such as Bitcoin (BTC),USDT, ETHEREUM (ETH) and many others.
Steem Dollars (SDB): is another rewards that is earn in Steemit platform and it is the rewards that is used to buy liquid Steem that can be transfer of use to power up our account.
Steem Power (SP): is what give us influence on Steemit plaform. With SP we can upvote on our post and that of other users.
In Steemit Tron (TRX), is another rewards that is earn and it was integrated last into steemit wallet about 2 years ago.
Dtube: is another project that is built on Steem blockchain network and it is a social media video Platform that allow users to upload they videos into the platform and earn rewards. It is just like YouTube.
Utopian: is also a project that is built on Steem blockchain as an open source platform. Here users only get rewarded when they contribute to the open source project.
Conclusion:
Steem blockchain network is one of the best social media platform that is decentralized an it is the top among others that you shouldn't ever think of joking with. Thank you for your time here.