Steemit Crypto Academy Contest / S1W1 - Favourite Blockchain Network by @simonnwigwe

Hello guys,
It is yet another new season in the steemitcryptoacademy, this time the season came in the form of a challenge, this initiative was brought by the steemit team so that steemians all over the platform will develop the spirit of engaging in one anothers post. I am so delighted to be part of this seasons program. Today I will be writing on the topic titled My Favourite Blockchain. Please continue reading as I take you on a tour about my favourite block chain and the reason why I select it as my favourite.

A lot of persons have different views and for that reasons they tend to select which blockchain best suit them. In my case, my most favourite blockchain is the steem blockchain. Steem blockchain is a crypto based blockchain which allows users to create quality content on any aspect of life and then get rewarded for their hard work. This means the the block chain reward content creators. Aside that the steem block chain allows for the creation of different communities which may decide to specialize in just a particular goal e.g is the steem entrprenure community which deals with business.

The steem blockchain uses the proof of brain consensus algorithm in it's operation. This means that for a content to be rewarded by curators, the content must be steemexclusive I.e free from any form of plagiarism. One unique thing about the steem blockchain is that it accommodates people all over the world. This means that language barrier or your field of studies is not a problem on the blockchain. Every one has a place in the steem blockchain.

The blockchain rewards it users using three different currencies namely, Steem which happens to be the native token of the platform (rewards comes in form of Steem Power), Steem dollars (SBD) and the TRX token which is recently integrated into the platform about a year ago. The Steem Power is what gives users of the platform influence on the platform. This means that when you have a higher steem power, and then you upvote a post, they reward for the payout of the post will be higher compare to someone with lower steem power citing on the same post.

Steem blockchain was developed and launched in the year 2016 by Ned Scott and Dan Larimer. After the launching of the blockchain, the first ever social media Dapp I.e steemit was also launched on the blockchain. The steemit Dapp is a decentralized social media platform that allows users to create quality content that are free from every form of abuse and then share it to the public for their consumption. The creator's of this content are then rewarded with the currencies I have earlier mentioned above.

The steem blockchain, has been able to allow a lot of Dapps to run on it. As at the time of performing this task, the number of Dapps running on the steem blockchain is about 330, and these Dapps are used by a thousands of persons at a time. This has made the steem blockchain more effective and faster when it comes to handling transactions. It implies that about a thousands of transaction is been carried out on the steem blockchain in every second.

1- One of the major reasons why the steem blockchain is my favourite is that all the Dapps developed or that are running in the blockchain are very responsive I.e the size of your screen does not matter for the display as it will still give you a clear picture of how the view will look when you are on a bigger screen.

2- Steemit as a platform in the steem blockchain is free to use by anyone. At the course of registration you need not to pay any kobo before you will register and even after your registration, you will be given an amount of steem power to enable you perform some activities in the platform. This is not the same in other blockchain, you have to pay to register and then you have to fund your account to perform operations as well.

3- Steem blockchain is my favourite blockchain because it allows user to grow from nothing to something by rewarding content creators with the token I have listed above. Now, when you share your knowledge through blogging, you will be rewarded for that.

4- Through the steem blockchain, we can be able to build a lifetime relationship with people all over the world. The communities created in the steemit platform brings people from different part of the world together and new ideas are shared which lead to the learning of new things as well.

It's always difficult if not impossible to stay without issues when ever a new network is built. The case of Steem blockchain is not an exception, because the blockchain experienced its own earliest shortcomings few months after it's launch. Few months after the launch of the blockchain and the Dapp which is the steemit platform, some steemit account where hacked and the asset in it stolen.

This came to the notice of the network team and then they decided to look for a way to make the system more secure to avoid the repeatation of that very ugly incident. In doing so, they team brought an initiative of introducing more security features to various account such that if any of the keys is compromised you can be able to retrieve your account before the asset will be transferred. From that moment till this time, more ways to improve the security of the blockchain has been the watch door of all the network team. On daily basis they are at alert in case of any further attack.

Despite how interesting the steem blockchain network is, there are few changes that I believe will make it a better network. I will be listing them below.

1- Just like the steem/USDT pair has just been listed on the binance platform, I want to believe that if an exchange is incorporated into the steemit platform where users can be able to transact their tokens directly in the platform and then withdraw their money directly to their bank, the platform will be better because the cost of transferring the token to an exchange will be eliminated. This will help more users (both bloggers and investors) to come into steemit and that alone can boost the price of the asset.

2- Another thing I believe will make the platform a better one is the introduction of all other social media to the steemit platform. What I mean is that presently, after writing our article we can confidently share it to four different social media platform I.e Facebook,Twitter, Linkedin and Reddit. There are other social media platform that steemit can also be advertise to. In my opinion, let this other platform be added to the steemit platform so that there will be wider range of advertisement. There are a lot of person that have not heard about steemit till this point in time.

3- Another part I want to talk about is the part of reward. The introduction of the #club status is really a starting point because that has helped a lot of steemians to abide the culture of powering up and saving. Other then #club status, another way the network will be better and the price of the currencies will move faster is if the reward is set at 75%/ 25% instead of the normal 50%/50%. This means 75% of the payout should be in steem power whereas the other 25% can be is steem dollars.

As I have stated earlier in this publication, there a lot of project that has been built on the steem blockchain but for the sake of these task, I will be discussing on just one of the project and that is the steemit project.

The steemit project is as old as the blockchain it self. This is the very first project that was launched in the steem blockchain immediately after the launch of the blockchain. The steemit project is they one that allows user (be it content creators or investors) to earn some token by contributing their quarter to the blockchain. In the case of content creators, the publish quality article in the platform and at the end the get rewarded. For investors, the provide liquidity to the platform and there by earning what we call curation reward.

In the steemit platform, original content are been upvoted by other steemians and at the end of 7 days which is the duration that every post takes before it's payout, they reward is then divided into two of which half goes to the author as author's reward and the other half goes to the curator in form of curation reward. This means that the reward you get in steemit is either an authors reward or a curation reward.

In summary, the steemit platform is a social media blogging platform thatrewards it's users using SP, SBD and TRX. Original content are usually voted by other steemians and at the end of 7 days the reward generated are divided into two of which half goes to the author and the other half goes to the curator. Plagiarized post are usually downvoted as they don't meet the standard of the platform. The steemit platform has no limitation when it comes to language because people all over the world are involve in the platform.

My favourite blockchain is the steemit blockchain, I have been able to give a brief review of my understanding about the blockchain in the article I have written above. I want to specially invites few of my friends to come and join this amazing contest and also drop their own review as well. I am inviting @yakspeace, @josepha, @josantos, @ngoenyi, @whitestallion, @predomina and all my other friends that I cann not mention right now. I look forward to seeing your entry soonest. Thanks for your time.