Steemit Crypto Academy Contest / S1W1 - My Favorite Blockchain Network Is Steem Blockchain By @mukky23

INTRODUCTION

Hy everyone. Welcome to the first week of the crypto academy contest. I am @mukky23 and this is my entry for the contest. Thank you to crypto academy community for organizing this contest. Let's get to it.

MY FAVORITE BLOCKCHAIN

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Amongst all the Blockchain I've used so far, my favourite is the STEEM BLOCKCHAIN. The steem Blockchain is my favourite due to the following reasons presented in this article.

The steem blockchain was created by Dan Larimer and Ned Scott whom we all know are profound blockchain developers. Dan Larimer, who founded bitshares and acted as it's CEO till 2017 then resigned from office to focus on his next project. The steem officially went online in March 2016.
The steemit Blockchain can be categorized as a social Blockchain. It consist of alot of communities and at the same time rewarding it's users. Users efforts are rewarded when the create original and quality content on the Blockchain. The steemit Blockchain is similar to the likes of Facebook and reddit and it is the only Blockchain that allows applications like social apps.
The steem Blockchain stores all it's information In a database that leaves no room for changes and can be accessed by anyone.

The steem Blockchain has a zero fee charge when transactions are made. Making it cheap for it's users to make use of it. The same zero fee charge applies also when carrying out coun swapping on the Blockchain.
The steem Blockchain holds features that it alone posses. The steem Blockchain alone handles transactions than any other Blockchain.

HOW THE STEEM BLOCKCHAIN WORKS?

The steem Blockchain, unlike other Blockchains, uses witnesses to validate and verify transactions. When it comes to other Blockchains, they mostly make use of miners. We all know that Blockchain consist of blocks where information is being stored. In the steem Blockchain, delegated proof of stake(DPOS) is used to create it's own block.

The witnesses mentioned earlier that validate and verify transactions are group of people that are selected by election voting. These witnesses are 21 in number but in order to validate a block, only 20 witnesses are required. Each block is being created every 63 seconds and are supporred with what we call steem power.

DOES THE NETWORK HAVE SOME EARLIEST SHORTCOMINGS? HOW HAVE THE NETWORK TEAM TAKEN CARE OF THE PROBLEM?

Yes, I think they might have been a period where the Blockchain was attacked by hackers. It had an impact on the steem Blockchain. Investors assets were stolen as well.
Also the crash of the crypto space also affected it initially. Unlike now that the steem Blockchain had gained it's feet.
To prevent such from happenening, the steem Blockchain team had to tighten up the security in the Blockchain.

WHY IT IS MY FAVORITE BLOCKCHAIN?

The steemit Blockchain is my favourite because of the following reasons

Low transaction fee: The steemit Blockchain charges almost zero transaction fee. This makes it very easy, cheap and likable by it's users. The steem Blockchain had the ability to powers up social applications. It's transactions speed is second to none and for the fact that it has the ability to attach social media to it's Blockchain is simply a work of art.

Recognizes hardwork: Another reason why I love the steemit Blockchain is that it rewards users for thier hardwork and consistency. Users that share quality content on the social platform are rewarded with steem tokens powered by the Blockchain. Other activities like upvote and commenting are also rewarded as well.

User friendly: the steemit Blockchain is very easy to use and navigate through. It also serves as an investment platform. You are allowed to invest what you have and when you want to. Upon registration, it's totally free. You need not to pay charges before joining the steem Blockchain. Unlike other Blockchains that require you to pay a certain amount of fee before joining.

THE CHANGES I THINK WOULD MAKE THE NETWORK BETTER

MORE AWARENESS: personally I think not alot of people know about the steem Blockchain yet. Unlike other Blockchains, the steem Blockchain is hardly talked about or recognized. There is need to create more public awareness. Other Blockchain are being discussed in the news or in casual conversations with friends. But I don't think I've ever heard the steem Blockchain being talked about on the news or anywhere else. Apart from on the steemit platform itself.

STEEMIT, A PROJECT THAT IS BUILT ON MY FAVORITE BLOCKCHAIN.

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Like we made mention of earlier, there are social media dapps that are powered by the steem Blockchain and one of them is the steemit platform.

The steemit platform was launched on July 2016 by Dan Larimer and Ned Scott. The steemit Dapp has been around for over 6 years now and has been attracting new users ever since. It is a social media platform that entails blogging. Authors share thier unique and quality content on the site and in return, they are being rewarded for it. On the steemit platform, authors get rewarded in three ways which are:

steem token: the steem token is the native token of steem Blockchain.

Steem Power(SP): This refers to staked steem within the steem Blockchain. The steem power can be earned in the platform as reward or powering up.

SBD(Steem Blockchain Dollars): the SBD is a more stable token. The SBD can be converted into steem. Depending on the market value at that particular time will determine the amount of steem you receive.

CONCLUSION

For me, the steemit Blockchain will continue to be the best of the best. With it's key features that has been designed to tailor the needs of almost every user. It is safe, fast, cheap and user friendly. All the above mentioned points are the reason why steemit Blockchain is my favourite. For the steem Blockchain team, I believe the sky is the limit for you guys and there is more to come. I would like to invite @ofalamin and @faruqadam to also participate in this contest. Thank you very much everyone.