STEEM Is A Record Setter: It Is One Of The Standards And Not Even Breathing Hard
The steem blockchain is incredible. While there are many factors that enter into the pricing action, there is no doubt that performance is vital for the long-term.
Today, Steem became set the record for most transactions in a 24 hour period, 1,155,679 while averaging over 1M transactions a day over the last week. What is most impressive is that Steem is achieving these results while only operating at .1% of its total capacity.
I would say that leaves a bit of room for upside growth in that regard.
There is also good news on the Steemit.com front. For those unaware, this is the main steem app at this point with most of the blockchain activity going through it. A week and a half ago, this site was ranked by Alexa at #1,000. Look at where it is today.
It does appear that Steemit.com should break the top 700 U.S. sites in the next couple of days while it also moves up on the world ranking.
Many look at pricing action and get caught up in the emotion there. Blockchain technology is multi-layered in terms of what is important. Try to keep focused upon what is taking place on there. The price will eventually catch up.
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great information on steemit thanks fir share information . steemit is rocking.
Agree... Keep sharing the light. Just got into a debate with FB statists who think all this "crypto nonsense" is just a fad that will leave us all "holding the bag".
We need to be aware though that although we know the truth, when statists see their ship of state sinking, their tendency is toward ruthless violence, so be prepared.
Yeah...crypto nonsense....$600B is nonsense.
FB isnt on the hit list as much as Reddit....that will really open some eyes.
Looking forward to 2-3 Million transactions per day in the next 6 months.
...and it will be interesting to watch Reddit (#5) and Steemit converge at somepoint.
Reading the 2017 Plan, Reddit was specifically mentioned in there along with the communities concept.
It does appear the steemit development team is not looking at FB but Reddit and taking dead aim at it.
Ultimately, with a couple hundred million users and no real ecosystem moat, it makes sense to go after that market. There really isnt much to make Reddit unique and, hence, is vulnerable to people leaving.
Why is the steem blockchain able to handle so much more? Also is it as secure though? There must be some downfalls of it compared to others that are not as fast?
That is something I can never seem to find an answer for... whether a transaction is just a monetary thing or does a transaction include all the data of a Steemit post? (Which would eat up mucho block space.)
Graphene blockchain that allows the data to be condensed which makes for faster transactions.
This is great news. I, for one, am glad that Steemit hasn't gone completely mainstream yet, considering the UI could still use a facelift. However, I think that once more of the world get's accustomed to cryptocurrencies and the blockchain, Steemit could be huge.
I wonder if someone will start an app on the Steem network that is more similar to Facebook one day. I imagine that would do very well, considering Steemit is more similar to Reddit.
Already in 703 place, this is an enormous growth. The most pleasant thing in this is to understand that each of us has made our contribution. For some reason, I now recalled the example of a large anthill with the preservation of its hierarchy. Rather, many anthills, In this case, each witness can be compared to a bee-uterus, active bloggers - with worker bees, and spammers with drone. Good luck to you and good.
A great achievement, this shows the public confidence in Steem is increasing, no doubt the future of Steem getting brilliant, thanks for the information.
I think it will be interesting to see how the volume matches up with traditional credit card transactions. Upvoted and resteemed.
From what I read, the network can handle up to 100K per second which exceeds the volume of both Visa and MasterCard together.
I will belive it once I see it real time. ;)
Visa is 150 million a day. So we are getting there, slowly but surely.
When the shift form the "get rich fast" mentality to the "invest in technology that actually works currently" mentality happens, steem will definitely see a price increase. We shall see how long it takes.
I'm a physicist. And I have an honest heart... I'm convinced that steem is the future... Everything says the future is for steem.
Now our society needs to bite the advertising...
Then you will see that Facebook will become like abandoned cities
I think the UI needs to add a lot more to be a viable threat to Facebook.
Heck, it is still lagging Reddit although the communities should help it close that gap some.
Yes, you're right ..@taskmaster4450. but now it's not bad. It needs a little change and needs a lot of support from us