Steem ranked within the Top 10
The latest Chinese blockchain rankings put Steem inside the Top 10.
China just released their blockchain rankings for the month of August and Steem finds itself listed at #9.
Just ahead of the behemoth bitcoin.
A list of the Top 10 can be seen here:
(Source: https://www.ccn.com/chinas-latest-blockchain-rankings-pins-eos-on-top-bitcoin-at-10/)
Not quite as good as it sounds on first glance...
Steem ranked all the way up at #9 may sound like a big deal at first, but if you go back to prior months, steem was ranked higher in both the 2 previous months.
Which means that steem is actually sliding in the eyes of those doing the rankings.
Who are doing the rankings you might ask?
The rankings were created by the China Electronic Information Industry Development Research Institute and the China Software Testing Center, which features contributions from professors and researchers at the country’s most prestigious educational institutions including Tsinghua and Beijing University.
Some thoughts:
These rankings seem to be slanted heavily towards PoS platforms as technology and application are listed as two of the main categories.
PoS platforms currently scale better and the blocks have much better capacity than PoW platforms, thus likely giving them the leg up currently.
Which is the main reason why EOS is listed as the number one blockchain platform in the world.
Given all of that, it is surprising to see bitcoin climb from 17th all the way to 10th month over month.
Perhaps the better integration and adoption of SegWit helping reduce fees and unconfirmed transactions is playing a part in this.
Steem likely needs to start building some better apps (outside of flagship steemit.com), and start getting some real development done on the platform if it doesn't want to see itself slide further down in the monthly rankings.
SMTs could go a long way in that regard.
Stay informed my friends.
Follow me: @jrcornel
They know what they talking about
Unless you are a bitcoin maximalist, then you are pretty upset at those rankings.
Weiss Ratings in US also has ratings fairly similar. It means a lot for the future. These guys are looking past the hype and I believe are fairly accurate with the ratings. Steem with SMT's come really jump up in rankings next year but staying in top 10 means a lot seeing how Cryptos their are today.
Agreed. I just wish the ranking on coinmarketcap would look similar to these. It sits at number 36 currently on coinmarketcap.
Yes, I do too. One day the true value will emerge as the early stages of adoption start to emerge. I don't sell my Steem b/c it's one of the few chains that have real adoption and use on it. Now we just need these upgrades to come out next 6 months and the markets to turn around. Very depressing times now for many hodlers but it will be worth it in the end. Nothings green anymore for a long time now but saw the same happen a few years ago. Personally, I am adding more coins at these levels.
What year did you get into crypto?
Since 2013. Bought my first Bitcoin at the top at $1000 outta per FOMO. I had starting studying it that summer. Wanted to buy it in Sept. of that year but got cold feet when GOX took 6 weeks to verify me. I didn't know of Coinbase at the time. After buying a few BTC in the bubble I managed to DCA the next two years...LOL. Never gave up! Then I discovered Ethereum in 2016 and so on... How about you?
Nice. That is impressive that you were able to hold on as it took almost 3 years for bitcoin to get back to break-even for you. I bought my first bitcoin around $1k as well, but mine was on the way up in December of 2016 I believe. Though I had followed bitcoin for several years prior, I had always thought it would go away.
STEEM issue of late is the reduction in engagement amongst its users. there is clearly a correlation between the price of STEEM and the daily active users. This is mainly due to how new accounts are created and the churn so thereafter. Too many come into the platform expecting overnight money but are disappointed soon after and leave. However, better times will come with the amount of development taking place in the ecosystem which should drive the next wave of early adopters.
Agreed. The steemit platform needs to be fun for those that barely make any money. If the money is just a bonus for being here the numbers should start to increase rather dramatically.
So what does this mean for us STEEM holders?
It means that when people start looking to invest again and the look at independent rankings, they will see Steem listed as a Top 10 coin. Not huge news, but it's better than the alternative for sure.
Alot of people are joining steemit becuse of bloging, and then from that point they discover cryptos.
In May 2018 we broke the 1 Million registred users people dont relazie how big that milestone was and it will keep getting bigger just like Facebook (maybe not in that fast rate but not far behind).
I personally think now it's the best time to accumulate more steem power due to the price decline as you recive more steem per post.
Regards @jrcornel
This means steem will have the chance to be a next btc/eth? In value i mean. If the platform will develop day by day and will change the whole spectrum of internet it might be possible to see this happening, don't you think? In the same time i guess bts/eos, while they've been created by the same brain, they might be interconnected and will work as a triangle, creating the perfect project for the Future of crypto-world.
Thanks for sharing great blogs for humble artists like me
Regards
According to the Blocktivity.com. It goes EOS, STEEMIT, BTS, and ETH. That seems like a better ranking because it's based upon transactions within the last 24 hours, which means usage. STEEM is routinely number 1-3 on that website. Which shows to me that there's a large network of actual users here. I think the list mentioned by OP is a good start. But doesn't put STEEM where it deserves - in the top 5 at least.
I am surprised EOS has that many more transactions than steem. What being done on that platform is causing some many transactions?
I'm not sure. But remember that it's the transactions within the last 24 hours. Steemit is almost always topping the list. I just personally think the only thing that really tells the value of a blockchain is transaction/usage.
I think EOS has been at the top of the list every time I have checked over the past two months... though I only check maybe once a week or so.
well, there are new develops in the pipeline, so I believe steemit will rank better soon. And enegagement has to increase, very important
I believe steem will rank slightly better as well if they were to get some things launched. As in SMTs and communities.
I think SMT is launching next year, but I just read an article that covers an interview with @steemed and he is not so optimistic about it. Well, I think it will bring in new invest to steem. yes, other platforms are doing this already, but who says we can't do it even better or have better prospect.
The community part I really dont understand. I thought we had manyy communities on discord /telegram (excuse my terms, im relative new to the cryptow world)
Do you have a link for that interview?
this shoukd be it:
https://steemit.com/steem/@timcliff/interview-a-steem-stakeholder-series-interview-with-steemed-500-000-steem-stakeholder
We want to keep the number 1 in 10 or not
Number 1 would be nice. Though I'd settle for just being top ten on coinmarketcap.
steem is topping the game slow and steadily great to know about this list :) the only project with great vision and team
That's coool
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Hoping to see it climb that list when SMTs are launched.
Right
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