Steem Passed Ethereum's Number of Transaction and Will Pass Bitcoin Soon
I found amazing statistics that present a great initial step of Steem/Steemit.
Among various measurements, number of transaction is one of important gauge that represents a success of a ecosystem unless it is abused by spams. I will report three graphs as follows: of Bitcoin, Ethereum, and Steem. In short, as of 2016/07/19 Steem already passed Ethereum's transaction scale, and is heading to Bitcoin's.
Charts
Bitcoin: 222k transactions per day and fluctuating between 175k and 250k (Source)
Ethereum: 37.9k txs per day and quite stable near 40k (Source)
Steem: 116k txs per day and rapidly increasing from 20k (Source)
A good news is we have enough room for new transactions (at least 8 million transactions per day).
I believe Steem will pass Bitcoin's number of transactions in the near future!
We're evolving !
No wonder there is a waiting list!
Poor reddit :( I wonder if they can update their system to use steem? Someone more talented than me should make a... Module? Widget?
Reddit did this to itself. It has a somewhat ugly interface and no realistic way to Controll trolls. Steemit saw the potential Reddit had a built a bigger much better system
there is a waiting list because hackers were using the registration as a way to drain funds from the system.
Is there an official announcement of this somewhere?
Most of my peers are still in monkey # 2
Lol awesome!
I attempted to make a funny post to help newbies not be intimidated by whales..
Check it out and let me know what you think :D
https://steemit.com/money/@stealthtrader/when-your-not-a-whale
Cheers!
R/EVOLUTION OF MINING
The new evolution is text mining :)
https://steemit.com/money/@filip-martinka/hacking-the-top-100-new-steem-posts-first-text-mining-analysis-for-fun-and-profit#comments
first official STEEM LOTTERY https://steemit.com/lottery/@willytrader/first-official-steem-lottery
Some people I know think STEEM is just being victim of a pump and dump. I will link them to this!
I think this proves STEEM has actual value, derived from real world applications.
I think STEEM is still UNDERvalued. It can beat Bitcoin any way you choose to measure the two blockchains.
-Transactions per second
-Cost of transactions
-Maleability/upgradability
-ASIC resistant POW (posting content+curating can't be done by bots!)
-Steem dollars! A cryptocurrency pegged to the USD
-Rewarding liquidity providers
-and many more ^^
I agree. I think it's undervalued, as well. By 1000s of basis points.
So many reasons, for example:
I'm so using that!
Great points, but as long as timestamped data is on a public ledger there isn't complete anonymity.
Certain blockchains such as Dash allow for private transactions.
Very true. Can you provide a link to Dash so we can learn more?
http://dashpaymagazine.com/index.php/2016/05/31/what-is-dash/
I recommend signing up to the slack channel, a lot of helpful users:
https://digitalcash.signup.team/
Hey man, I know I'm not the first asking this but I'm impatient about Peertracks/muse... Could we have a small update. Everything ok ?
Thanks @cob
Kind regards
We just hired a UX designer for Troopeers and getting ready for that. I'm going to NYC next week for a bunch of meetings set up by our PR firm.
We also have 2 headhunting agencies that began searching for MUSE devs.
Aren't the transactions internal between steem steem power and steem dollar at? Is this another circle or are these steem vs btc or steem Eth transactions
Biggest gap in their analysis is how SP works to slow down volatility due to the trust in the platform.
Great points!
Thanks for presentation
It's true bots cannot post good content (yet), however I disagree on the curation part.
I invite you to read my blog post here https://steemit.com/steem/@curator/i-made-a-curation-bot-for-steem
This is crazy even if we just look at new users per day, they we actually had to shut that metric off! Well be hitting that amount of transactions in no time IMO. As soon as more users get introduced to the system its going to explode.
I wrote a post on precisely that! The amount of new users and amount of posts for the time being is just overwhelming, and we haven't even started yet! :D
Steemit: The Fastest Growing Social Media | 100k Members Within December or Earlier
Also note that ETH txs are kind of messed up - here the measurement is about something more substantial. In any case, it's a stat that shows a very clear trend of real-life use. Personally, I've said that steem should have a higher marketcap than eth simply because it has far more real life relevance and use. Smart contracts versus posting, well... who uses smart contracts? Posting though - that's happening all the time.
so they obviously went over taking on a lot and all at once, I would like to know the smart contracts realized when lost, to develop the whole world does not take into account the characteristics of people, a lot of omissions
very good post~
It's only a matter of time. Steemit appeals to a far wider user base than Bitcoin because of the ease of use. Once you are able to purchase items directly with steem dollars the transaction numbers should skyrocket. Not to mention this is still a beta project!! It has far exceeded my expectations.
Bingo! Easy = Moon
Even if this doesn't work out I think this is by far the most fun and best gamble I've taken. Wish I had heard about it a bit sooner, but I think we're still all very very early adopters.
For sure! There are less that 30 thousand accounts and not even all of them are active. It's a great time to be a part of this community as it grows.
Agreed. Crypto is exploding, all because of STEEM. Killer app is here, and we are all early adopters. How cool is that?!
And as @craig-grant recently posted, there is a wait queue to even get in as developers most likely implement a new account recovery feature
Great post! Another stats to definitely keep an eye on - the number of transactions per day and the worth of the exchange are certainly very important indicators as they indicative the relative worth of the underlying asset.
One will naturally expect these numbers to keep growing as more people join steemit and show interest in the token. One stats I will definitely keep an eye on over the course of time.
I love this technical data. I'm glad someone else is watching this stuff.. Hope we see more. I'm too busy trying to stop junk on steemit with my posts, so that's my thing.
When will you be releasing more trends, is it weekly, or ?
I have no plan for regular release yet (but I provided original source link for your own research).
Probably when Steem exceeds Bitcoin in terms of tx numbers, I will post another :)
Dan always told people that Graphene technology will scale, withstand heavy volumes and find consensus more quickly than other types of chains. He has been right about most things I have ever heard him talk about. Very difficult I'd imagine to argue with him on blockchain tech... :P
Proves among other things that it is hard to beat FREE (transactions).
STEEM is quickly becoming the cryptocurrency monument that will open the whole world to the magnificence of such quality product and openly equitable sharing potential for all! Namaste :)