THE SUPERIORITY OF THE STEEM BLOCKCHAIN - WHAT SETS STEEM APART
STEEM may be relatively new compared to cryptos like BTC or ETH, but in many ways, it has far more capability and potential.
When people look into investing in different cryptsocurrencies, any number of variables can come into play. Each investor may have different specifics that they look for, but there is one thing that they usually all have in common, a desire to find an investment with a lot of room for growth, and a lot of potential to do so. Here are a few reasons that I prefer holding STEEM over BTC, ETH, and others.
UNDERRATED AND MORE THAN CAPABLE
As always, it is best to do your own research, but I'll share a bit about my thoughts and the data that I've analyzed.
For starters, as mentioned on steem.io, "Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum." source At a glimpse, that sounds like quite a boastful statement to make, but when it's the truth, there is certainly more to consider about this underrated underdog in the crypto market.
When it comes to transactions and operations, the most transactions ever made in a single day on the STEEM blockchain is 2,522,380, whereas BTC comes in at a total of 497,349 and ETH at 1,372,918. Even in the last 24 hours STEEM had 1,238,490 while ETH was 642,690 and BTC only 202,185. Based on that evidence along STEEM has successfully handled more transactions in a single day than ETH or BTC ever have, even though the STEEM blockchain is less than three years old. source
Once we consider peer to peer payments using these cryptos, many other cryptocurrencies have fees associated with them. If I wanted to send a certain amount of BTC to another wallet, for instance, I would expect to pay a fee to do so. With STEEM, however, I can transfer as much STEEM to another STEEM wallet without having to pay anything extra. The total amount of STEEM that leaves my wallet is the exact amount that shows up in the other wallet, with is a huge bonus.
The transactions on the STEEM blockchain are much faster as well. To quote an article by former bond trader Alex Lielacher, "Also, on a technical level, Steem transactions are faster and cheaper than bitcoin transactions, which would suggest that Steem is the superior peer-to-peer payment currency."source
While BTC will most likely remain the "big name" in the crypto game, awareness about STEEM is rising and steemit is helping to bring that awareness to the common man. With BTC still above $7000 USD per token and STEEM hovering at about $1 USD right now, I think STEEM certainly has much more room for its value to increase. The superiority of the STEEM blockchain may very well play a big role in the growth of cryptocurrency in the future. Personally, I'm glad to be a part of it.
Until next time…
Great analysis! If Steem does what I think it will do, I will be buying a piece of ground near Searcy or Stuttgart when I retire. Still trying to decide if I like trout fishing or duck hunting more.
Been trying to figure that one out since about '92. 🤣
Wow! I like the White River trout fishing. I should go to Cotter again soon.
Its a great river too and yes you should and I bet the Little Peppers would enjoy it.
I visited Cotter once about 5-6 years ago and stayed in a little fishing campground; it was a great trip.
Steem is have a brigth future it is for the mass crypro maybe coming years this crypto more people will binifited
I think so. Thank you for checking it out.
I plan on Hanging Around Steemit for quite awhile and UP Voting @papa-pepper and @little-peppers because they put out Great Content. Yes STEEM will do well, probably very well..........
We've noticed that! Thanks for all of the support!
Fantastic write up! I am here to stay!!!
Me too!
I to believe steem has no where hit is potential yet, plus I love the real interactions you can have with other steemit users so it is where almost all of my crypto is invested
Yes it's a good thing to know who is the person behind a "address", because it's more social and you can find so amazing person on Steem. The only bad thing is bot mass creation ... but maybe the developers found a solution for this ^^
I have to be honest I did have a short period of using Bots but that was something I never quite liked so stopped using them
I still remember selling all my altcoins to buy STEEM. I'm a little more diversified now, but I totally believe in the potential of steem!
I was diversified a little at one stage, but wanted to up my Steem power at one stage I still have some others but small amounts, but hey before i joined Steemit I had no Crypto at all LOL
I hear you on that. I had no crytpo whatsoever before steemit.
Great point. Just look at how many alts got attacked already: Bitcoin Gold, Verge, Syscoin etc...
Steem has held up pretty well so far.
It really has! Thanks @techwizardry.
Steem is super underrated. Hopefully it will the recognition it desrves soon..
I think it's on the way!
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Yes Steem is very fast and zero fees, so it's perfect for micro-transactions :)
I expect a massive deploy for gaming exchange with non fungible token for storing assets.
Thanks for your post ^^
I've used it to make a number of purchases, and totally enjoy the lack of fees!
You are 100% correct my friend, steem is the best coin out there with the most potential for explosive growth. @papa-pepper
We'll have to see what happens.