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RE: Vlog 217: Soon we will have a million accounts on the Steem blockchain + other cool stats.
Well I am not surprised to here this because I have always known that steem and steemit had so much potential .
The Steem blockchain is handling 1.6 million transaction per day on average. With only 0.14% load on the network. (Ethereum is second with 800.000 transactions on average with 100% load)
I don't seem to understand what you guys mean when you say the steem blockchain handles so much transaction with just 0.14% load on the network...what's the implication of having 100% load on the network and of what benefit is having just less load on the network to the steem blockchain chain.
When the load is 100% you can't handle any more transactions than the max.
We have seen Ethereum and Bitcoin run into these problems where they need to handle more transactions than the blockchain allows. When this happens you get a backlog of transactions waiting to be confirmed.
You basically get a traffic jam on the the blockchain. And unless you pay a high fee to get in front of the line you will just have to wait it out untill your transaction clears.
STEEM does not have this problem because we are very far from maximum load. No traffic jams on the steem blockchain.
Wow then this is an exceptionally good news and to think we are already this much and have achieved this much on steemit while carrying out transactions with only 0.14% load on the network is simply mind blowing