STEEMIT CRYPTO ACADEMY CONTEST/S1W1 - My favorite blockchain network by reporter-ann
Hi everyone, wishing everybody the blessing of this new month. This is my first time to make a contest post and also talk about blockchain and I am very excited to give a try.
Steem blockchain is my day favorite blockchain
Steem blockchain network is the only blockchain that I am familiar and i think that it will be my most preferred blockchain because of first experience.
This blockchain came into existence in the 2016 through the hard work of two young Americans who’s name are Mr. Dan Larimer, a programming expert and Mr. Ned Scott that met in the year 2015. A year later, Mr. Dan Larimer quit his roles in the board of directors in the year 2017.
Source Mr. Ned Scott
source Mr. Dan Larimer
Immediately after the launching of steem blockchain, a decentralized social media called steemit was host on it smart contract on January.
Since the launching of steem blockchain, many other decentralized applications have been host e.g steemyy, steemscan etc.
A method of block verification called proof of stake is used on steem blockchain. In proof of stake, selected witnesses perform duty of adding of new blocks to it using a duration of maximum three seconds.
In steem blockchain network, there is nothing like mining pool which is common in other crypto currency. Steem blockchain make use of reward pool for it coin distribution.
When a post is made, users with big steem power reward the content creator with certain amount of steems by voting on the post.
Steem and Steem dollar is the two coins used on steem blockchain.
Why it is my favorite blockchain
Steem blockchain have bless me with cryptocurrencies. This is my first time to own crypto currency. I remember how I wanted to own some crypto currency but the procedures that stated by the person i met were too complex for me. Here on steemit platform, I earn them using my writing skills.
In terms of security, I believe that steem blockchain is top notch because of strong alphanumeric content keys offered to use during registration.
I have use some steem blockchain dApps and i notice that everything is free. The only price is our commitment.
Some earliest shortcoming on steemit and how the network team took care of it.
After a thorough research, I was able to identify three earliest shortcomings on steem blockchain.
The first shortcomings is disagreement that leads to Mr. Dan Larimer decision of quitting his role in the board of executive member.
The second was the break out of some personalities to form another decentralized social media. The personalities used a blockchain technology called hard forking to initiate the operation.
The third earliest shortcomings is the attack on users wallets by hackers which resulted to loss of about $85,000 value of steems.
After for the three big issues, there have been not other records of challenges on steem blockchain and the executive members have continued to protect it by working hard to identify spammers and any bridges of security at it early stage.
Changes that I think would make the network better
Steem blockchain is a little difficult to use during an early experience of a member. Most time I usually find challenges in performing something. I will search for solutions on YouTube with hope to learn but unfortunately, none is found.
I think a little video explanations should be added to every achievement tasks. This will help new users to learn very fast.
Steem blockchain is not popular. I think that most attention should be focus on promote which should include a radio or television interview of top users.
Steemit is build on steemit blockchain. There are lot of users that earns steems regularly. I think that there should be a market on steemit so that we can swap our steem rewards with goods at affordable price.
My favorite project built on the steem blockchain
Aforesaid, steemit social media is my favorite project on the steem blockchain.
I salute the two Americans for creating this unique dApp. The first of it kind.
Unlike other social medias that i know which are centralized in operation example Facebook and WhatsApp that does not reward everyone for their efforts, the steemit social media is nice option to earn and learn too.
The users are respectful and coordinating. There is no flaw words too.
Even at it less popularity level, steemit have done positive things to the less privileged and community using charity initiative.
Every country have their community which helps users to locate people from their countries and stand a chance of building mutual relationships.
I’m a Nigerian user and our country have a community called @steem4nigeria of which I’m a proud member.
CONCLUSION
Even among hundreds of blockchain, I believe steem will be my most favorite blockchain.
Creating an account on steem blockchain remains a great blessing to me.
I commend the hard work of everyone that have contributed to the growth of this blockchain.
Thanks for reading my first contest. I’m to be a participant despite my little experience.