INTRO

The Tron Fan Club is a specialized community working on some specific topics. As a moderator of the community, I am regularly sharing several tutorials to help newbies. In this series of tutorial, I am trying to share the basic issues of Steem blockchain.

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PRELIMINARY IDEA ON STEEM BLOCKHCHAIN

Steam blockchain is a technology like any other blockchain technology but in this blockchain technology not only transactions are recorded but also post, comment i.e. blogging activities are recorded along with the transactions. This means that the distributed ledger of this blockchain has a record of transaction as well as blogging activities (usually post, comment, like etc.). So, it’s a blockchain based blogging or social media platform. Steem blockchain is decentralized. The website to browse data of steem blockchain is steemit.com. We can browse data of the steem blockchain by many websites but originally data is stored and maintained in steem blockchain.

We know, in the case of Bitcoin, all newly created Bitcoins are shared between the computers (nodes) that are verifying these transactions. This method is called mining. No central person or computer is working here in bitcoin network. Any computer or person from all over the world will be able to perform the verification of transaction by solving critical algorithm by their computer. Any new bitcoins created for the transaction will be given to the computer or its owner. This is called mining as it is newly generated in the network. The faster a computer can solve this complex algorithm the more Bitcoin transactions can be validated and mined.

In case of Steem Blockchain, those who will do that work are called Witnesses. Anyone can apply for being witness. The top 20 can participate in this work of transection data validation and server maintenance. And the 21st person is put on the waiting list. So, top 21 will be the miner. The selection of top witnesses is like voting system in democracy. The one who gets the votes of the most powerful user will be ahead and this consensus method is called Delegated Proof of Stake (DPoS). A portion of newly mined steem will be shared among the witnesses as the reward of mining. This way, the steem blockchain runs.

Every 3 seconds a block is created here. A block is taken by a witness. The Witness computer that created the block will receive a reward for that block. The distribution of newly mined reward is-

• The highest amount of 65% is given in Rewards Pool which means we who are working as authors and curators.
• 15% goes for interest to those who have acquired steem power.
• 10% goes to various proposals based on steem blockchain.
• Witnesses are getting the remaining 10%.

While miners get 100% of all mining in Bitcoin blockchain, Witnessers get only 10% in Steam blockchain. That's why I mentioned earlier that this is a blogging-based blockchain that contains data related to blogging as well as transactional data. And those who are writing and voting are getting the maximum amount.

CONCLUSION

I am trying to share the details of Steem Blockchain in simple language in a consistent way as a collection so that anyone can easily know the details about this blockchain in one place. Those who newly want to work in the Steem blockchain can easily access to this world of Steem blockchain by studying the basics of steem series from here.

DISCLAIMER

I have already shared similar tutorial in Bengali language in আমার বাংলা ব্লগ community. This post is not shared under Self Plagiarism but shared on this platform for educational purpose to maintain tutorial archive. Basically, Steem tutorial series posts are for the newbies in the Tron Fan Club community those who want to know about Steem Blockchain. Hopefully, they will find Steem basic tutorials sequentially at a single place. You can find here the post already shared in another language.

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