Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network By @fabiha
Hello everybody! I hope you all do sensible in your lives. I'm doing well. As we tend to all grasp that STEEMIT ENGAGEMENT CHALLENGE is about to end and everybody is making an attempt their best to win in it and thirstily participate during this challenge.
For that, I am also here to take part in this challenge. So, there are so many blockchains that are quite good and we can also see their futures. For this entry, It is very difficult for me to choose any blockchain, But now to have a big think I choose Steem Blockchain. As I already work this blockchain for 1 year.
Tell us about your favorite Blockchain network, its history, and why it is your favorite.
The Steem blockchain was founded in 2016 by Ned Scott and Daniel Larimer. Outside the Steem blockchain, the designers of the Steemit platform planned to create a version of the system platform for users.
The Steem blockchain network is a decentralized platform. It is, a blockchain that is not governed by a single person, central authority, political individual, or a single project. And as compared to other blockchains its critical aspect is that it is a social media blockchain.
For Collecting Information I Will Visit CoinMarketCap
| CryptoCurrency | Steem |
|---|---|
| Market Rank | 263 |
| Price | $0.4272 |
| Low - high in 24 Hour | $0.3935-$0.4349 |
| Volume in 24h | $78,766,395 |
| Marketcap | $168,724,032 |
| All Time High | $8.57 Jan 03, 2018 (4 years ago) |
| All Time Low | $0.06919 Mar 10, 2017 (5 years ago) |
| Circulating Supply | 394,951,699.00 STEEM |
| Total Supply | 409,190,981 |
| Max Supply | No Data |
The Steem blockchain is quite my favorite Because it is a social media platform where there are two types that are Authors and Curators. This wanna be my favorite because I am an author, Author writes a Quality content and the curator will be rewarded a quality content.
The main thing I like about this platform is that peoples earn Real Money without any investment. There will be no Fee to Register for the account. People are registered on the platform and then Write Quality content means they share our thoughts and then post them. Then Curators have Voted on their posts. Also In Steem when curators vote on our post they will get 50% Curation from our post and the Author will also get a 50% Reward.
Another thing I like most about this blockchain is that this is a decentralized platform. There will be no hacking chance. Everything will be secure on that platform.
Does the network has some earliest shortcomings and how has the network's team taken care of the problem?
Since the launch of Steem, the blockchain has undergone several hard and soft forks to upgrade the chain in order to add new features and fix some bugs. Initially, If someone wants to have the full scale of changes he can simply have a look at the release description that comes with every major upgrade on the official GitHub repository of the Steem blockchain. But there are nonetheless some notable changes that were introduced such as removing the creation of accounts with SP and the introduction of RC and discounted accounts, removing the ability to mine STEEM via PoW, regulating the reward pool, changing the reward split, introducing DAO to solve the issue of funding development, changing the reward curve (Linear / Convergent), introducing the downvotes to deal with abuse, communities and so forth ... There are just plenty of more interesting changes that can be checked on the repo, these changes really give us an idea that Steem has come a long way since its initial launch.
The changes that would make the steem blockchain better are as follows:
- First Of All, there will be 50% Rewards Go To the Curator I Think If they will decrease the curator reward to 25% and 25% out of 50 Will Be automatically powered up so it will be better. By This, The Value of the Account for every author will be increased fastly.
- Secondly, they need to give extra-ordinary support to newcomers so that newcomers will interact fastly.
- Thirdly, they give extra rewards to those people who promote steemit on the other platforms.
- Finally, If They introduced more new projects they will get a very good opportunity to generate new tokens/coins which will be very better for the Steem blockchain.
Write about a Project that is built on your favorite Blockchain.
There are so many projects that were built by Steem Blockchain but I was talking about one of the Well known projects which were known by so many peoples which is Steemit.
Steemit is a decentralized platform and it is one of the projects of the Steem blockchain, Steemit is a social platform where everyone should gain knowledge, and Everyone should comment and posts Quality Content. and curators will be voted for the Quality Content.
Steemit was created in 2016 February, In Steemit Peoples earn money by just blogging online. There is no need to invest and then register the Account, People register their account free and without investment, they will earn a lot of money.
Also, On Steemit users can gain knowledge like they will write and share their ideas, and by this, they learn How to Write Good Steemit is good for every aspect. Also, there are so many communities in Steemit For Every County that have different communities. Every Community has to support Different things like the Diary Game, Food, Creativity Etc.
The most important thing to know about that platform is that When the Author Posts, the Author have 7 Day to a payout. Authors will get their payout after 7 Days, the Award will be in Steem Dollar and some TRX. For Withdraw her payout Author Will Convert SBD to Steem and then Share the Steem to Different wallets Like probit, Bittrex finance, ETC. and For Tron they have a Tron link wallet.
Yes, You are Right The main Thing About Steemit is that it has No Investment. That's why people come to this platform so rapidly.
You explained everything very well BEST OF LUCK DEAR FOR THE CONTEST
#club5050
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Your post about the steemit blockchain really enlightened me about some stuff I was confused about. Thanks for the post, I enjoyed reading it
You have explained the STEEM Blockchain really well and the points you have discussed regarding the changes in the STEEMIT platform can be reviewed.
You are Absolutely Right.
Hello @fabiha, Steemit is my favorite too, in fact thanks to Steemit I managed to understand how a blockchain really works
That's right, steemit is also one of the places I work, and with this steemit we can communicate with various countries, thanks to steemit I can also make money for my life.
Congratulations, your post has been upvoted by @dsc-r2cornell, which is the curating account for @R2cornell's Discord Community.