Hello Steemians.

A week ago, for the first time in history, two @blockchain protocols have surpassed one million transactions in a 24-hour period. One of those was the blockchain of @Steem which has processed 1,022,251 transactions. The other was @Ethereum which also broke the barrier of 1 million transactions, but to handle such a load, they had to use 60% of the capacity of their network. While Steem has only used 1% of its capacity.

But why is Steem's blockchain so efficient?

First of all because Steem's blockchain was created based on a technological tool called Graphene, which is nothing more than a free software platform for the creation and administration of blockchain introduced by the core of BitShare programmers.

This technology works with a lesser known algorithm called Proof of Stack (DPoS) to lay the foundations of a blockchain suitable for billions of users. Thanks to the DPoS, Steem's blockchain is able to generate a new block every 3 seconds with a minimum computational load. This means that the blockchain can process more transactions and maintain more information, including the content that we generate.

In 2016 Steem replaced Graphene by Chainbase, which is a portion of the blockchain pile, has faster loading and unloading times, supports parallel access to the database and is more robust against drops than its predecessor.

This technology makes Steem's blockchain one of the fastest and most efficient, reaching up to 10,000 or more transactions per second.

But how does the Blockchain of Steem work now?

Unlike @Bitcoin and Ethereum that produce their tokens or @cryptocurrency through the computational power of the miners, this is known as the Proof of Work Algorithm (PoW), Steem produces its tokens with the Proof of Stack (PoS) algorithm. which assigns witnesses to the creation of the new coins all this within the network of Steem, these witnesses do not have a determined weight within the network with which it can hierarchize the creation of new tokens, as it happens in the system PoW where the miner with the highest computing power has the priority of choosing the transactions that more commissions can earn him. 

So, Steem allows people to generate that currency by generating content, based on the Proof of Stack algorithm, Steem introduces a new concept that can be called "Proof of Brain" which refers to the reward system, inside of a community based on tokens (Steem or SBD), product of the generation and evaluation of social content within it.

Proof of Brain and its reward system is divided between those that generate content, curators and witnesses, every time you use your intellectual capacity to generate and cure content you are generating the tokens and coins that maintain the Steem Ecosystem and makes the network grow, so the important thing to do and vote the best articles.

Roger Paez: Systems Analyst and Programmer with 20 years of experience.