Cryptocurrency Awareness Campaign: Steem Statistics [Speed, Volume and Scalability]
Steem just touched $7.00 USD!
It's an exciting time for the Steem blockchain. Prices are pushing higher as experts are seeing more and more reason to dig into the best blockchain in town. In this post series, we're looking at just a handful of reasons why Steem is a superior coin, not just in terms of it's amazing network and community, but because of the disruptive technological perks behind it.
In this post we've illustrated a handful of sharable fast facts that illustrate Steem’s incredible speed, volume and utility. All statistics are via @blocktivity, and their blockchain data website - http://www.blocktivity.info/
200x Faster than Bitcoin
Steem is fast. With Bitcoin, you can wait minutes, hours or even days in extreme cases for transactions to resolve. Even at this very moment, BTC has almost 100,000 unconfirmed transactions queued up. Steem is blazing fast in comparison and has yet to hit anywhere close to 1% capacity.
1 million daily transactions
The Steem blockchain is confirming more than 1.3 million transactions every 24 hours at the #1 slot. As reference, Ethereum is 2nd at 1.1 million and Bitcoin 3rd at 300,000. All of these awesome blockchain statistics are via @blocktivity, and their data website - http://www.blocktivity.info/
3-Second transfers
Did we mention that it’s blazing fast? We did and we’ll say it again - Steem is lightning compared to most mainstream cryptocurrencies. Not only that, but no matter the amount of Steem being moved from A to B, the time it takes is the same. 3 seconds flat.
Zero Fees
No fees, no extra costs. Proof of Work currencies like Ethereum and Bitcoin charge every time you want to transfer, purchase, or withdraw any amount. Not with Steem, where every action has absolutely no added costs.
It's Scalable Too!
Here's a fun chart we made that helps illustrate comparable value. One of the most compelling statistics of Steem is its ability to scale. Right now, the Steem blockchain is only utilizing ~0.1% of it’s capacity. Compare that to Bitcoin (overloaded at 100%) and Ethereum (nearly 50% on a good day). In this category, Steem rocks the competition.
Share these Steem Stats!
Please download, post, tweet and share around on other social media sites! Share a snapshot in the comments below. It's an exciting time to promote and illustrate the incredible utility backing Steem. Let's show it off to the world.
If you share any of these graphics on Twitter, make sure to mention us “@sndbox_daily”
SMTs haven't even come out yet
Exactly right. We've got a lot in store for Steem this year!
Guys do you think steemit could grow to the size of Facebook ? What worries me is that the accounts number isn't growing so fast ...
No you would have to have teachers require students to make steemit accounts to pass their class first. This is the only reason facebook has so many registered users, I would wager that on Steemit we have a much higher percentage of total users active at any time than on FB which is better than amount of total population in my opinion. I would rather see an engaging small community on this site than a large insular one.
hi sandbox
Exactly my point. It will soar to the sky once SMTs are complete.
That's how amazing it is. This is the beginning
Thank you for your post! I must admit I do not quite understand what you mean by scalability? That it has only reached 0.1%? Could you please clarify, thank you!
That is just the amount of transactions steem is able to do without being under load so out of 100% currently steem is only under a 0.1% load meaning it has so much more room to grow
nice, great to know, thanks for explaining.
If it hits 100 %, then the network is overloaded, and the transfers will need to wait for another block. It is what's been happening with bitcoin, and why it is so expensive/takes a long time to get a transaction to happen. So we still have a long way before we get there!
These are exactly the statistics that support me in my view that steem is something much bigger than most of us can imagine...
Glad to be of help! We're excited too.
It is always so impressive to see these statistics. Thank you for sharing this with us and for the awesome website.
Our pleasure! Thanks for the support @chryptomark!
Great work, people is just realizing how amazing this project is, it is just the begining
Yeah, just imagine how many people there will be in here a few years from now, @jorgedr0id.
It is a good start of the year for Steemians and the community.
Glad we all could make it!
That it is!
great post, i just used the "market" option to sell SBD to buy more steem power yesterday and it was lightning fast with no fees. Very pleased
Pleace vote me
Thank you @sndbox, excellent overview of Steem's fast facts. Facts that will be quoted often by my team's efforts in porting a large user-specific community onto Steemit later this year.
Looking forward to the move!
that's right, we are working hard to make it happen. been over a year in the making. follow @armentor and @liotap for updates
The graphics are sick! 🔥
Really well done, without a doubt time went into these!
Steem is THE new currency look 200 times faster than the leading currency
Steem is going to earn publicity over the Time and getting more and more convenient to use
We're rooting for Steem as well!