What is the Shutdown Price for STEEM?steemCreated with Sketch.

in #steem • last year

The Shutdown Price for STEEM is the minimal price for STEEM in order for witnesses (steem miners) to be profitable.

Currently, you can run a steem witness node on a 6-CORE, 20GB RAM, 1TB VPS, which you can get about $30/M. And the top 20 steem witnesses get about 10K steems per month. So, the shutdown price for steem is 30/100000=0.003 USD

This is so much lower than Bitcoin or Ethereum because of the consensus algorithm used by STEEM is DPOS (Delegated Proof of Stake). DPOS is more efficient than POS or POW in terms of TPS and the cost of running a node is significant lower.

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     last year 

    !ask what is the shutdown price for steem? Can you provide a reasonable figure

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       last year (edited)

      There is no set price for shutting down Steem, as it is a decentralized cryptocurrency. It is impossible to provide a reasonable figure for the shutdown price.

      command: !ask is powered by witness @justyy and his contributions are:
      https://steemyy.com
      More commands are coming!. !ask is currently based on ChatGPT-3.5

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