Steemit Crypto Academy Contest / S1W1 - My Favorite Blockchain is the Steem Blockchain - By @solexybaba
Image edited on Canva
Hello to everyone here in this community, it has been a while, I welcome you to the weekend and also to a great contest that has been organized by the steemit engagement team. so today I will be participating in the steemit crypto academy contest which has been titled Favorite Blockchain Network. so today I will be dropping my entry concerning the Blockchain network I prefer. wish you happy ready as I drop my entry
THE BLOCKCHAIN I LIKE MORE
Ned Scott alongside Dan Larimer are the co-founders of the steem blockchain, Ned Scott developed the blockchain alongside a developer known as Dan Larimer. this approach was orchestrated after meeting themselves and agreed to work together, but the dawn of the steem blockchain took place in March 2016 after all aims and objective were set.
The fascinating part of this blockchain is, that it is built on a social platform, it also gives room for different individuals and several communities to earn while interacting with one another sharing great ideas, and in turn, helps the communities on the platform to gain an increase. the steem social platform rewards its users who write a quality article that is beneficial to any reader of that article. steem is well known as the only blockchain that is having a social application where individuals are free to interact with one another and then get rewarded after creating original content on the blockchain.
Another great thing about the steem blockchain is that more than other blockchains, the steem blockchain can control thousands of transactions per second. what an exceptional blockchain. over a million individuals use the steem application that are limited in numbers not up to 400, and these applications are steem-based applications that are found on the blockchain.
Also, the steem transaction fee is quite cheap. making transactions like exchanging the token or swapping it for another is done at a cheaper rate. with this, every individual that is connected to the steem blockchain in one way or the other performs transactions at a cheaper rate.
Also, every user has his/her account that was built based on the steem blockchain. a decentralized application was created to help individuals get connected to the steem blockchain. and every user has an account where they interact with each other, so from this aspect, the steemit platform was created.
Like other blockchains that use miners in verifying and validating transactions, stem blockchains make use of witnesses to validate and verify all transactions, and these witnesses in question are several individuals that are been given authority to validate and are responsible for creating blockchains. also, the witnesses are 21 in total and are responsible for the blockchain validations.
Note that the creation of blocks occurs every 1 minutes, 3 seconds and on the account of creation it then rewards the witnesses with what we called steem power. the steem blockchain work by using a delegated proof of stake generally known as a consensus mechanism which helps to gather information and store them in blocks on the steem blockchain.
The steem blockchain is indeed my favorite, for the fact that it compensates users for posting or creating quality content on the platform. it rewards users with both Steem, SBD, and TRX. and this reward is done by what we call curation.
The level of transaction fees s quite low. all transactions are performed with almost no transaction charges at all. these features make almost all individuals that come across certain information regarding this platform want to sign up and be part of the steemit family.
It has no boundary or eligibility issues regarding signing up, all individuals are allowed to register and sign up. it has no gender segregation, no age differentiation, no skill required, no fee to be paid provided you can read and write, and everyone is welcomed with open arms to this platform.
It also has various communities where newbies have tutored the basic information that is expected of everyone to be familiar, it also has features and certain lessons known as achievement post from the newcomers' community, this achievement post exposes newbies to gain knowledge about the platform more and more while in other applications there is no such thing.
Aside from the blockchain rewarding its users for creating quality content, it also helps users to meet with other users from different countries all over the world. it also helps through the creation of communities, a user can acquire knowledge in the aspect of engaging in the various community on the platform. just like this community known as steemit crypto academy, this was where I learned how to trade and know things about trading. I got cooked in trading with the help of this community I am now a good trader. this is what I am talking about, I came here as a novice to learn what trading is all about, and now I tutor my friends on how to trade. users like @badmus-official, @jamezmccoy, @swaylee, and @weasell, learn how to trade also with the help of the teachings from this community. so knowledge is another great feature that I adore so much and this is one of the numerous reasons why I chose the steem blockchain as my favorite.
- DOES THE STEEM BLOCKCHAIN NETWORK HAVE SOME EARLIEST SHORTCOMINGS? HOW HAS THE BLOCKCHAIN NETWORK TEAM TAKEN CARE OF THE SAID PROBLEM?
Yes, I recalled vividly there was this time when the steem blockchain network was jeopardized by certain individuals where we saw cases like user's assets got looted and taken. which created tension in the mind of investors and users on the blockchain.
And after the looted asset scenario, the steem blockchain team increased the level of their security pass in the blockchain. this is to make an absolute solution in other for fraudsters not to attack the blockchain again. and also each transaction has its key, so in other to perform a given transaction you will be requested for the specific key that is been allocated to that transaction or activity. that is why we have been provided with the various keys concerning what they are created for. and with this approach, it is quite difficult for a third party to access your assets without your permission or warrant.
- THE CHANGE THAT WOULD BETTER THE STEEM BLOCKCHAIN
I seriously want to stress this point, it will be a nice idea if the steem blockchain provides its Exchanges, this will better the steem blockchain a lot. having an Exchange can help users to change other digital assets with ease, this will boost the steem blockchain, and as such steem users will not have to be visiting other exchanges in other to exchange or swap a digital asset for another. getting an exchange will help users secure, keep assets and make certain transactions in the exchange platform.
Again, I think there should be an application that one can use to log in to our steemit account directly without visiting our browser. this will assist to a great extent. just like having a normal application on your phone that all you need to do is to launch the application and automatically you are in, that is exactly how I wish we can log in to our steemit account without visiting our browser. if there could be an application like that, then it will be better and great.
- WRITE A PROJECT THAT IS BASED ON THE STEEM BLOCKCHAIN
The decentralized application is a project among many that have been ongoing regarding the creation of the blockchain, this enables users to put down quality contents which in turn gets rewarded and these content rewards are of basically three specific types, they are the steem power, the steem blockchain dollars and Tron. and they are rewarded by the means of vote casting. and also there is a voting system that entails a 50-50 % this implies that, if your content is been voted by a user, 50% of the voting reward goes to you and the other 50% reward goes to the user that voted your content. so this is done when we all support each other here on the steemit platform.
- CONCLUSION
Truth be told, the steem blockchain is so great, as a blockchain that is built on a decentralized system and also rewards users for creating quality content as well, what more can I say on this note than to say the steem blockchain is superb. also creating an avenue for learning to take place is also another mind-blowing thing. I just told us how I came all blanked to this platform regarding the trading aspect but now, I coach my friend on the trading aspect. with the help of this platform, I have also joined some communities like the Business Activity community and ever since I became part of that family, my business knowledge has been upgraded drastically with the help of one among the business community team known as @cindycam, she has been a source of inspiration to me and she can so teach and guide newbies on a various aspect such as writing style, making a presentation, inputting the necessary markdowns and the rest. without this platform, I wouldn't have gained the knowledge I have now.
Without the steem blockchain, there would not be a platform and without the platform, there would not be users. so the steem blockchain has done a lot more than any other blockchain has done. that is why the steem blockchain is and will always be my favorite blockchain.
I will like to invite the following users to come and share their favorite blockchain to @victoh78, @ronindboss, @samuelebuka, @gidsbrown, and @mukky23. please endeavor to participate. Greetings!
Here is my introductory achievement post Link
Thank you very much @solexbaba for this piece. I'll be glad if u post more educative articles like this one because I've learnt alot from this very one✌️
You have successfully given a detailed analysis of the steemit blockchain, and the steemit network as well, steemit tends to give users the opportunity to create quality content and get rewarded for it.
Nicely written, keep it up.
That is true, i have not seen a blockchain that works just like that of the steem blockchain we which with the help of its platform enables users to post their ideas on all ramifications of life concerning information that are beneficial to it readers and on that note award the creators of such content. Thank you for stopping by.
No doubt all this is possible because of steem Blockchain. We are able to learn both Crypto related course and also other varieties of area and we earn while learning that is just amazing. Thank you brother for such a wonderful post.
You are right, the steemit crypto academy community has helped many a lot. Back then i do lose money a lot in trading, but when i subscribed to the steemit crypto academy and went through some teachings. I began to follow all trading clases and today it has made me a good trader. All thanks to the professors for their good works. Greetings!
The Steemit Blockchain is a nice Blockchain project. It introduced me to Decentralization and was my first attempt at monetized blogging.
It feels good to be part of this revolution in the crypto space.
I wrote on the Stellar Blockchain, you may be interested in it as well.
Nice post all the same.
Yeah, especially with the ability of rewarding users on the account of posting quality content. The is the first blockchain that I've seen with this feature so far and it is typically nice. Greetings
You've successfully given a detailed information. Keep doing a good job
Very well put.. Great insight on the Steemit blockchain
Hello, @solexybaba your publication is quite well argued, I congratulate you, you have achieved a lot since your beginnings and my job is to guide you and help you whenever it is in my hands, as a member of the community, support is necessary, guiding is the necessary part in strengthening and teamwork so that together we achieve success.
Your post is quite detailed, each question well answered and validated.
Greetings.
Thank you so much ma'am for all you do, you are indeed a teacher.
Thank you also for your kind words concerning my post.