THE SUPERIORITY OF THE STEEM BLOCKCHAIN - WHAT SETS STEEM APART

in steem •  2 months ago

STEEM may be relatively new compared to cryptos like BTC or ETH, but in many ways, it has far more capability and potential.


When people look into investing in different cryptsocurrencies, any number of variables can come into play. Each investor may have different specifics that they look for, but there is one thing that they usually all have in common, a desire to find an investment with a lot of room for growth, and a lot of potential to do so. Here are a few reasons that I prefer holding STEEM over BTC, ETH, and others.

UNDERRATED AND MORE THAN CAPABLE

As always, it is best to do your own research, but I'll share a bit about my thoughts and the data that I've analyzed.

For starters, as mentioned on steem.io, "Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum." source At a glimpse, that sounds like quite a boastful statement to make, but when it's the truth, there is certainly more to consider about this underrated underdog in the crypto market.

When it comes to transactions and operations, the most transactions ever made in a single day on the STEEM blockchain is 2,522,380, whereas BTC comes in at a total of 497,349 and ETH at 1,372,918. Even in the last 24 hours STEEM had 1,238,490 while ETH was 642,690 and BTC only 202,185. Based on that evidence along STEEM has successfully handled more transactions in a single day than ETH or BTC ever have, even though the STEEM blockchain is less than three years old. source

Once we consider peer to peer payments using these cryptos, many other cryptocurrencies have fees associated with them. If I wanted to send a certain amount of BTC to another wallet, for instance, I would expect to pay a fee to do so. With STEEM, however, I can transfer as much STEEM to another STEEM wallet without having to pay anything extra. The total amount of STEEM that leaves my wallet is the exact amount that shows up in the other wallet, with is a huge bonus.

The transactions on the STEEM blockchain are much faster as well. To quote an article by former bond trader Alex Lielacher, "Also, on a technical level, Steem transactions are faster and cheaper than bitcoin transactions, which would suggest that Steem is the superior peer-to-peer payment currency."source

While BTC will most likely remain the "big name" in the crypto game, awareness about STEEM is rising and steemit is helping to bring that awareness to the common man. With BTC still above $7000 USD per token and STEEM hovering at about $1 USD right now, I think STEEM certainly has much more room for its value to increase. The superiority of the STEEM blockchain may very well play a big role in the growth of cryptocurrency in the future. Personally, I'm glad to be a part of it.

Until next time…

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Great analysis! If Steem does what I think it will do, I will be buying a piece of ground near Searcy or Stuttgart when I retire. Still trying to decide if I like trout fishing or duck hunting more.

Been trying to figure that one out since about '92. 🤣

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Wow! I like the White River trout fishing. I should go to Cotter again soon.

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Its a great river too and yes you should and I bet the Little Peppers would enjoy it.

I visited Cotter once about 5-6 years ago and stayed in a little fishing campground; it was a great trip.

Steem is have a brigth future it is for the mass crypro maybe coming years this crypto more people will binifited

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I think so. Thank you for checking it out.

I plan on Hanging Around Steemit for quite awhile and UP Voting @papa-pepper and @little-peppers because they put out Great Content. Yes STEEM will do well, probably very well..........

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We've noticed that! Thanks for all of the support!

"Steem has been battled-tested..."

Great point. Just look at how many alts got attacked already: Bitcoin Gold, Verge, Syscoin etc...

Steem has held up pretty well so far.

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It really has! Thanks @techwizardry.

You are 100% correct my friend, steem is the best coin out there with the most potential for explosive growth. @papa-pepper

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We'll have to see what happens.

I'm hoping one day down the road I'm rewarded for being part of Steemit and believing in Steem even at a time, now, when it all sometimes seems very pointless and not worth the effort.

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I certainly know the ups and downs of blogging on steemit, but to have an account worth almost $2000 USD (at the current value) after just over a year on steemit isn't bad and it's a lot more than facebook, twitter, instagram, etc have to offer.

I'm assuming that you earned that all in rewards anyway.

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I agree buildong a community is incredibly different let alone one that stands the test of time as steemit has.

Ome thing recently whicj i have been finding odd is steemit is laid out more like a Medium or Blogger than a social media site.

Steemit seems very built around community and networking and imho is more about that than creating content so Im finding it at odds with with the very contwnt centric ui of steemit. Id love to see like groups and messahing added on platform if thats even possible.

I hate that i have to go to discort or another site to converse with people and actually use this as a social platform

Posted using Partiko Android

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I hear you on that. Messaging would be a huge step forward. We will have to see what happens moving forward. Thanks!

Steem is super underrated. Hopefully it will the recognition it desrves soon..

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I think it's on the way!

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BTCBitcoin7280.105$0.23%6.13%
ETHEthereum290.480$-0.93%2.53%
STEEMSteem0.996$0.45%4.93%
VIAViacoin0.969$1.21%8.93%

Yes Steem is very fast and zero fees, so it's perfect for micro-transactions :)
I expect a massive deploy for gaming exchange with non fungible token for storing assets.

Thanks for your post ^^

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I've used it to make a number of purchases, and totally enjoy the lack of fees!

I to believe steem has no where hit is potential yet, plus I love the real interactions you can have with other steemit users so it is where almost all of my crypto is invested

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Yes it's a good thing to know who is the person behind a "address", because it's more social and you can find so amazing person on Steem. The only bad thing is bot mass creation ... but maybe the developers found a solution for this ^^

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I have to be honest I did have a short period of using Bots but that was something I never quite liked so stopped using them

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I still remember selling all my altcoins to buy STEEM. I'm a little more diversified now, but I totally believe in the potential of steem!

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I was diversified a little at one stage, but wanted to up my Steem power at one stage I still have some others but small amounts, but hey before i joined Steemit I had no Crypto at all LOL

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I hear you on that. I had no crytpo whatsoever before steemit.

Fantastic write up! I am here to stay!!!

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I cannot agree more! What a great head up!

@eurogee

Nice post. Articles like this are really helpful to me. 👍

My question is not when it goes up, but what's a good target? I'm considering to sell 20% on 5$ and 20% again on 7.50 etc.

So if it goes down after a spike I can buy it back around 1/1.5$. If it keeps going up than that's fine too.

Great post @papa-pepper ! So True! upped and resteemed my friend!✌👌👏💕😀

You made some really good points here my friend.
I'm happy to be here as well.
Thank God we found out about it! ;-D

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Amen to that!

the biggest danger would be patches and changes in hardforks due to too much micro-whiners lol .. thats always the biggest danger so i hope they go very very slow with the alterations and changes, every system is prone to failure and the more patches get applied the more complicated it gets the more chance you get at beetles in the network there.
Other than that i agree, its probably the number one ichiban best thing since bitcoin itself, sadly a bit downtrodden by local elitists more than actually neglected by outside finance (the latter being both good and bad, it the steemecononmy can manage without them, then all the more power to its citizens, right ?)

by the way @papa-pepper ... check your steemd in a week or so for @incinboost .. a bit of a private and limited affair but they don't leave messages so your comments section is safe, i needed someone to share with and as you have been on my top 40 voter list for quite some time and i wholeheartedly support your daily effort and grind for independence you popped up lol ... if you dont want them, you can ask on the server to be removed ofcourse, otherwise it should be a daily extra divided over the number of posts you make (a bit like sbi)

i dont say this to get something back okay, i just needed a test-subject and i prefer to share with people who do this thing right :) after that it will probably be internal affairs only, 5 shares should get you a membership btw so you can join the discord for more info, or else if you really dont want daily botvotes that dont leave comments you can ask to be removed, that goes without saying

keep it up !!!!

always a treat

(its supposed to scale with steemprice too, just like sbi so if steem hits a million dollar thats gonna be a nice extra lol)

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Sounds interesting. Thanks!

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someone's gotta pioneer :)

Steem is the best thing that has happened to me in a long while. I will be hanging here for a long time to come. Just so happy to be here.