Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network by @nancygbemi

Greetings Steemians!

I want to thank the organizer of this "Steemit Engagement challenge" for the opportunity for me to participate in Steem crypto academy contest season 1 week 1 and this will be my first homework in the Academy. Today I will be sharing my favorite Blockchain Network with you all.

Source

Tell us about your favorite Blockchain network, its history, and why it's your favorite.

Firstly i don't really know much about Blockchain network but I know few things about steem which is my favorite blockchain network, steem is not all about the blockchain Network but it's a terrace that can't be compare to any other blockchain network due to it uniqueness.

Steem is a blockchain network that is communal which depends on content that are changeless and also inherent energized mechanisms that give content contributors and distributors with cryptocurrency know as STEEM. This Blockchain provides a database where there's availability of content in a simple text arrangements and also enable user(content creators) to Earned rewards like TRON, STEEM and SDB by creating quality content and also exploring the Steemit world by interacting between themselves. Steem-based apps is around 324 which Dtube, Utopian and Steemit is topping the list.

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Steem is like Bitcoin which is a liquid currency and they have the same similarities, there are changes in value as well.

And there's real application via social apps like Steemit is been powered by the only Blockchain currently. I find Steemit platform Very interesting on like social media platforms like Twitter, Facebook etc where all the founders makes Billions of naira from other people content while the user get nothing, but in Steemit the author get upvoted and also the curator get rewards pool too. Steem Blockchain has a powerful tool for full ecosystem that enable easy building of app.

History of Steem Blockchain Network

In 2016 July 4th Ned Scott and Dan Larimer which is the developer of the Blockchain, they both launch the app. Steemit begun as a social media platform and steem blockchain is the first application ever and it's enable user to earn cryptocurrency.
Steemit is a decentralized platform which is distinct from any other social media platforms.

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Dan Larimer has a degree in computer science and in 2013 he invented Bitshare, then three years later he moves over to steem blockchain.
Dan Larimer is an entrepreneur who as stay long in the Blockchain industry however Dan Larimer and Ned Scott are the co-founders of Steemit for a year and Larimer left the company 2017 after working as CTO.

Ned Scott was formally Working as business operator in American food importing company,after three years in the company he later partnered with Dan Larimer.

Why Steem is my favorite Blockchain Network

• Steem blockchain network is my favorite because Am given the opportunity to learn about cryptocurrencies, before I was a novice but now I can say I have learnt some quite number of things and am still learning.

• It as help improve users in their writing skill and also enable them to create content which will be upvote and they will earn rewards.

• Another reason why steem blockchain network is my favorite is because it's a decentralized system, only the user have access to their money No third party involved.so you can invest your money into cryptocurrencies like steem no body will frozen your account on like other central organization like bank where limited amount of money is required in your account or else your account will be frozen and you will come for questioning. This is why I love steem blockchain network.

Does the network has some earliest shortcomings and how has the network's team taken care of the problem?

There was an attack on transfer of funds from one Steemit users dragonslayer109 account to another Bittrex account and he was the first to observed this attacked and reported. Steemit works enable users to withdraw steem dollars as Bitcoin, other user experience this attack too, so the company shutdown the ability to transfer funds to Bittrex.

Ned Scott said the attack then will not make user create their Steemit account via Facebook and he said that all user involved in the attack Steemit will refund it

What changes do you think would make the network better?

Awareness need to be done, people need to be aware about steem blockchain network, Earlier before now I didn't know anything about steem until I was introduced, A platform could be created on Facebook, Twitter ,Instagram etc that enlighten people about cryptocurrencies and Steemit blog.

Write about a Project that is built on your favorite Blockchain

Steem blockchain, Different DApps can be built willingly. In the ancient times of Steem blockchain, Steemit was the first social blockchain project that was built on steem blockchain and it's the biggest application launched on steem blockchain and the largest. Steemit is a platform that content creators benefit by receiving a reward which is cryptocurrencies.

Users on Steemit create content and it offer value to the network as it draw new user to the platform while also safe guiding the current users involved and Beaming. This enable the sharing of the currency to a large amount of users while also raising the network collision.
There are three currencies with diverse purpose on Steemit as a project which is constructed on steem blockchain. They are :- Steem power, Steem dollars and Steem

• Steem power (SP) is the computation of how greatly influence a Steemian has on the steem network. And the more Steem power a Steemians has the more influential they becomes on the value of post.

• STEEM is a currency used to rewards users in Steemit and there's change in value like other cryptocurrencies example Hive Etherum etc.

• Steem dollars (SDB) is a currency that is used to purchase liquid steem, and it's pegged to USD.

Steemworld.org is another project built that is different from Steemit website and it is invented by steemchiller it enable users explore their posting key and memo key through their browser.

Steemscan is another project built and it's the fastest tools for converting steem to other cryptocurrencies like USDT, BTC and TRX, Futureshock was the one that arrange steemscan it is a website associated with Steemit and steem blockchain, for us to also know the current price of steem and other cryptocurrencies.

conclusion

Steem blockchain network is a wonderful network, where have been able to learn new things and also explore the Steemit world. Have been a beneficiary from Steemit by gaining rewards Thanks to Steemit.blog.