Hello everyone!

Another episode of the easy living series is here!

In the past few days, it seems the talk of the town has been about blockchain capability, transaction rates, bitcoin rising, the dominance of SBD over steem etc.

So many things are happening in the cryptospace right now and for real, it is getting hard to keep track of it all.

Speaking of track and record keeping, I have been searching through the access port to the steem blockchain, steemd.com and its amazing just how many transactions we have had on steemit so far.

Keep in mind that as the number of active steemians increases, so does the number of transactions, and so does the workload on the steem blockchain.

Despite taking in a large amount of transactions per day at our current state, the steem blockchain is holding up pretty well.

To those not tech savvy, steemit may just seem like a site which somehow pays its authors and content creators for posting on it. Some people tend to understand that it has some connection to bitcoin, since we all like to throw the word alot.

However, the more time you spend on steemit, unless you live under a steem rock, you'll eventually understand all the terms we use all day, everyday, in the crypto world.

Since not everyone may be in-tune with terms such as hash rate, I figured I'll simplify this as much as possible.

---

So in today's version of the easy living series, make your life easy by knowing where to put your money for the long term.

And so the future begins

Everyone currently in the crypto world can bear me witness that blockchain tech, cryptotechs, cryptocurrencies, are the next great thing. The value you see btc, steem and other coins having today isn't based on the money that is put inside of it,but on the faith the buyers and sellers have on it.

It is therefore not surprising that many businesses are integrating existing blockchain technology to their systems or hands down just creating new blockchain solutions.

what is a blockchain?

In the easiest of definition, imagine a giant everlasting and clear signboard set in the middle of a busy intersection. Everyone can see it, and see what is in it.

Now imagine that everyone can write on it and whatever is on it remains permanent.

Any alteration to what a person may have written on it would be seen clearly, and the person responsible would have a hard time getting away.

You can read more on blockgeeks

Different blockchains and coins exist, and they all run differently.

Speed of the Gods

1

Now if you've been following the news on the croyto space for at least a week, you'll notice that a little game called cryptokitties has basically been given the ethereum network so much headache. The systems are clogged up and for a while now, ethereum has been forced to delay up to 20000 transactions, just to be able to keep up with all the demands.
click here for more

Bitcoin on the other hand, seems to be doing even worst, with transactions taking as much as 5 hours to confirm. I do not need a wizard to tell me this, I have suffered it many times when selling my bitcoin to naira via local bitcoin.

a screenshot of https://blockchain.info/unconfirmed-transactions

In Ethereum the block time is set to 14 to 15 seconds compared to Bitcoins 10 minutes. This allows for faster transaction times. Ethereum does this by using the Ghost protocol.
source

Steem, however has the fastest rate of them all, with transactions being worked on every 3 seconds. All the activity you can take on steemit is a transaction and they contribute to a block.

The most amazing thing about this is that the steem blockchain doesn't even break a sweat. Everything runs like oil, and apart from upgrades to the site,or a few other things, the blockchain runs perfectly fine.

I am going to link in the post from @steemitblog concerning this issue.
I must confess, comments made by @acidyo @andraichy @lukestokes and a host of other top people contributed to my knowledge of this.
click me! link to @steemitblog

The steemfinite power

source

We all know electricity can quickly get expensive, but just how expensive can it get?

Well, if the picture hadn't given you a hint yet, the cost of mining bitcoin is way over the roof at this current time.
Electricity consumption according to this site is so high that bitcoin mining could actually be consuming the same amount of electricity as denmark.

This shouldn't come as a shock though, I mean, with all the mining farms, mining pools, antminers and all, what were you expecting?

The deal is this, it isn't necessarily bitcoin that is causing the increase in energy consumption, but the miners.

Bitcoin is released every couple of miniutes, meaning no matter the amount of equipment you use, you'll still get the same amount of bitcoin. The problem occurs because the fastest hashing machine, gets to keep the loot.
As a result, miners find better, stronger, faster and more energy consuming equipment in order to mine bitcoin successfully. Increase in price leads to more miners joining in, more miners means more competition, more competition means more need to get an edge, and the struggle continues. At the end of the day, energy consumption will outweigh monetary award, and the whole thing is poised to fall a big one, and restart(at least that is the way I see it).

Ethereum isn't much better either. While it doesn't consume the same amount of electricity as bitcoin, it does consume enough. A little more than that of the country of zambia.

According to https://digiconomist.net/ethereum-energy-consumption, etherium has experienced a rapid growth in energy consumption, just as the price of ETH increases. The problem seems to be the same with that of bitcoin, and I dear say, its the problem of all coins who use the proof of work concept of blockchain.

Steem doesnt have that trouble, infact while some witnesses do use machines totalling up to $1000, I am yet to see an energy drain that could rival a whole neighbourhood from a witness.

According to what I have seen, the only drain you'll ever experience is for keeping your system running 24/7 and feeding it data, but apart from that, there is nothing to worry about. In fact, many witnesses simply outsource part of their steemit witnessing duty to a company known as @privex. I do not know the connection between @someguy123 and @privex, but I do know that they seem connected.

Edit: apparently, @someguy123 is the CEO of @privex.

The main focus of POW miners is that the faster they solve, the more chances they have that the coin will come to them.

POS coins on the other hand, such as steem have a much better system in hand. The system of witnesses, which ensures that competition among those deemed worthy of handling transactions and decision making on the platform, don't go overboard with ''mining'' duties, trying to solve the fastest etc, instead, they can focus their energy on helping the community grow bigger, better stronger.

For solving blocks, each witnesses of cause gets a reward.

Edit: you can read more on this from @pfunk post from last year.
https://steemit.com/steemit-guides/@pfunk/a-full-steemit-user-s-guide-to-steem-witnesses

---

Speaking of witnesses, voting witnesses is a duty every steemian must participate in.

While I cannot tell you which witness to vote for, I can give you the talents you should look out for.

Generally, witnesses are capable of making certain decisions along with the developers on the platform. As a result, you should vote in witnesses whose interest is in the community, rather than in their pockets. Its not difficult to know them. They engage in the most amount of community engagement, they help out everywhere, and its a real form of engagement, not just working to buy votes from the masses(i.e, they aren't pretending when they work for the communities growth)

---

these are the witnesses I vote for

Now if you're reading this 2 years from now, the witness list could look different, so to vote a witness, go to steemit.com/~witnesses.

From there, you can look at the witness proposal thread created.

If a witness is below the top 50 simply put the username in the search field and click vote.

The impenetrable gates of Steempolympus

2

In terms of security, blockchain technology is pretty efficient, very efficient infact that there are only a few ways that your wallet can be hacked.

A direct jail break at your wallet without knowing your mnemonics is almost impossibe. I say almost because a lot can happen in a few years. What is instead rampant, is the methods by which a hacker can reset your password, through phising links, scams and tricks with intentions to get your passwords, etc.

Be it on steemit, or btc or eth, proper safety precautions have to be taken to avoid losing your money.

It would indeed be foolish to post your password, even a small fraction of it, on any social media site. same thing your transfers etc. Its all well and good that you are making money, but do not let it go into your head and make yourself a target on social media by posting pics of your transactions etc.

But in determining the future of cryptos, how secure are your coins?

If an error occurs, how quickly can a hacker steal your coins?
Well sorry to the fans of bitcoin, etherium and basically all other wallets out there so far. If a hacker gets a hold of your security codes, your coin is as good as gone. Transaction can be carried out in a heartbeat, and your money gone.

On steemit however, even if your account is hacked, it would take at least 7days for your cash to be powered down and removed from the system. Except you have steem and sbd lying around, you'll always have 7 days to report the account theft.

Steemit makes it clear to save your password in multiple places, and keep them secure

On steemit, you have 4 keys, your active, posting , memo and owner keys
If you follow the instructions that many steemins are advised to follow, you'll find your funds almost always safe. Say 98% of the time safe.

Logging in with your posting key means should a hacker get hold of your acc, they can only vote or post, your funds remain intact, ad that is what we ought to be doing.

Steemit INC is also willing to help you recover your account provided you meet a couple of conditions.

---

All in all, its possible that a fix to all the issues these coins have will be sorted out in the nearest future but till then, I see steem AS the future

Thanks

---

Hello there! Whether you're nigerian, ghanian, kenyan, american, europian, earthian, whatever planet or galaxy you come from, a massive event is going down on the 20th of december 2017!

In order to close of a wonderful steemit year in nigeria, I have teamed up with @tojukaka to organise the most christmassy steemit event yet, dubbed STEEMUP Delta 2017.

The event is going to go down live in warri Delta state, Nigeria.

In attendance will be some of the hottest names in the nigerian steemosphere @ehiboss of @genesis-project, @gbenga of @steemit-virus and @naijaboost, @ejemai of @stach, @tojukaka the steemit tutorial lord and @destinysaid of @afrovoter.

You cannot afford not to be there. So far, this cmpaign has been spread on facebook, whatsapp messages, twitter etc etc.

More than a meetup, yet different from a steemfest, this is a chance to embrace the spirit of giving and love.

We arent charging you anything, we instead would be giving out free wifi, discounted transportation, free snacks, christmas goodies and more.
Be there.

---

Any and all donations should please go to @africanvoter

---

Some previous edition of Easy living

https://steemit.com/curation/@destinysaid/easy-living-series-trails-what-are-they-what-that-means-to-you-and-i

https://steemit.com/introduceyourself/@destinysaid/not-making-money-like-you-though-you-would-or-content-or-contact-or-originality-vs-networking

https://steemit.com/nigeria/@destinysaid/easy-living-special-edition-nigerian-and-africa-understanding-your-stance-on-steemit-advice-to-the-new-old-and-all

https://steemit.com/nigeria/@destinysaid/easy-living-special-edition-nigeria-and-africa-steemit-tools-that-will-make-your-steemit-journey-far-less-stressful-2017721t11732134z

https://steemit.com/writing/@destinysaid/easy-living-special-edition-nigeria-and-africa-2-steemit-tools-services-you-need-to-know-asap

https://chainbb.com/help/@destinysaid/easy-living-upgraded-living-easy-and-good-on-steemit-nigerians-and-africans-get-tags-and-visibility

https://steemit.com/community/@destinysaid/easy-living-series-upgraded-tips-to-living-an-easy-life-on-steemit-and-a-recap-of-past-series

https://steemit.com/life/@destinysaid/easy-livng-series-or-1-wants-and-needs-or-life