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…