Bitcoin is the most respected cryptocurrency because it is the first cryptocurrency and most people in this world are not even aware of other cryptocurrencies’ existence. When other cryptocurrencies came in the cryptocurrency field, Bitcoin had already captured the full market as no competitors were there. Others had to make market for themselves. As the number of cryptocurrencies is increasing day by day, though some are successful, while for most of them success do not last long. Earlier many exchanges did not have facility to by other cryptocurrencies directly. Every buyer had to buy Bitcoin first and then he was able to exchange it for other cryptocurrency.
That’s why Bitcoin have placed itself as a synonym of cryptocurrency. This legendary status of Bitcoin has overshadowed other cryptocurrencies. That’s why, in spite of very long transaction time and increasing transaction fee, Bitcoin has maintained its importance.
But every king has to vacate its thrown when a prince gets experience to rule. Steem has a huge potential to become a platform of next generation as many applications like steemit, Dtube, Dlive, Utopia, Dmania, zappl, esteem etc are based on this platform. It has revolutionized the cryptocurrency world by just involving common people by providing them cryptocurrency without buying it. Hence, the future of steem is very bright.