The Scalable Blockchain is the Viable Blockchain
I have two reasons why I'm extremely happy to watch the price of EOS, Bitshares and STEEM all soaring high in the last couple of weeks. First, because I'm a token holder and my investment makes a pretty good return. Secondly, because they are graphene based blockchain using the DPOS consensus mechanism designed and invented by @dan which makes scalability no issue so they all really deserves more big valuation in the crypto market compared to other cryptocurrencies assets that brings no innovation to the table.
The Blockchain Scalability Issue
The issue with other blockchains and consensus mechanism like the bitcoin network proof of work is scalability. While the steem blockchain can process thousands of transactions per second with zero fee, and even said to have process 1 million transaction in 24 hours, the bitcoin network can only process maximal of 7 transactions per second.
The bitcoin network scalability problem became enhanced due to bitcoin becoming popular and gaining pretty much mainstream media attention like never before recently. That has also caused transaction fees to sckyrocket and become a huge headache for bitcoin users. Personally, I didn't feel good paying $25 fee for a $150 bitcoin transaction.
Bitcoin might not end up becoming that holy grail cryptocurrency that will become accepted all over the world by businesses and people if it scalability issue can't be fixed. The only viable blockchain network or cryptocurrency with the potential for worldwide acceptance are the ones that can scale into thousands of transactions per second and offer zero fee to users like the graphene based blockchains does.
You don't have to question the rising price of scalable blockchain protocols like that of STEEM, EOS and Bitshares because they bring an industry wide solution to the table that can make the whole blockchain space enticing again to investors and encouraging to users.
Check what you're investing in, is it a graphene blockchain based protocol or a service, or some DApps built on it? If yes, you might be in the right direction.
Everything in crypto now might be going up, but not all will last. The ones that will maintain high valuation and continous price appreciation are the ones that bring innovation to the table.
If this post inspired, motivate, or educate you, why not resteem so others can experience same? If you could upvote as well, I will be glad and your comment will make me believe you did one of the three.
Why did you pay such an outrageous charge? Dang, I hate the BTC transaction charge, I think thrice before moving BTC. The other time I did I used this VIABTC accelerator to push my delayed transaction due to low tx fees. A method you can only use if you can wait for days :)
It is annoying to say the very least of it. I think further upgrade by the LN may be what BTC needs.
I already moved the Bitcoin to my wallet before I got alerted that the fees has skyrocketed along the price, and also seeing that bitcoin price dropped from 19K (when the money entered my wallet) to 16K made me quickly sold the fund with that fee in order not to lose more than I had lost.
And yeah,I wished I knew about VIABTC accelerator, I might have used it not minding the delay in time, and yeah, if the Lightening network gain enough support, it might bring something better to the table.
Thanks for your concern and contribution bro
Its good to know steemit and eos are one of the scalable blockchains able to attend to millions of people flocking to the crypto world right now. But then how can we do without Bitcoin since it is the window to Fiat currency
There are so many alternatives to bitcoin currently and more are still developing. We have litecoin, a better option that I am switching to, transactions take 5 minutes to get confirmed and some exchanges in Nigeria are buying and selling it.
Also Bitcoin Cash, a fork of the original bitcoin is another better alternative that Iam looking into too personally.
The scalability of these blockchains makes them great tools for future blochain builders who intend to service the world community. we can learn alot from Steem and EOS. Thanks @dan
Exactly @masterroshi, there's a lot to learn from these scalable blockchains and I hope we can leverage them in our D-City project too.
I wish I had bought EOS now. Scalability is essential these days, bitcoin doesn't seem to be able to handle it's own popularity, steem is fully ready for it
Exactly man @elsteemo, but I want to tell you that, it's never too late to buy EOS until it becomes late. Buy now, EOS still has a long journey to go and the potential is yet to be unleashed.
Do it now man
I hope steem can be profit good for future. And for good to investment.
@bania
You can trust the future of steem to be bright enough to provide good return on your investment
good post @bania
Good read! I mean with BTC prices skyrocketing I think it makes more sense to try cloud mining because of higher returns. https://hashflare.io/r/7487B9DC 10% OFF voucher: 7487B9DC
Great post
The Steemit network can handle around 700K transactions if I am not mistaking and it seems that only around 0.34% is being used, i ma glad it could handle at least another 100M users easily.
Yeah, the steem network was designed perfectly and we can rely on its potentials because its pretty much scalable
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