Resource Credits Explained by Senior Blockchain Engineer @Vandeberg

in #steem2 years ago

Today we have a bonus Steemit Podcast episode for you all! Earlier today we released an interview with @good-karma, the Founder of @esteemapp and now we have an interview with Senior Blockchain Engineer @vandeberg in which he explains Steem's revolutionary Resource Credit system which is key to making Steem the best freemium blockchain in the world for powering applications.

Audio only version

While other blockchains like Bitcoin and Ethereum use transaction fees to allocate resource consumption by the network, Resource Credits enable Steem to allocate resources without charging any fees at all, while still preventing spam and bloat. It may sound simple, but as @vandeberg explains, delivering these unrivaled features are not simple at all.

Stake-To-Play

A lot of work is being done behind the scenes by the blockchain to ensure that reasonable usage of the blockchain is allowed for free, while users who place an excessive load on the network are nudged to acquire more Steem Power. This keeps the system free by making it stake-to-play, as opposed to pay-to-play.

In this episode, we learn more about this under-appreciated system, and why Steem is uniquely suited to benefit from it, unlike general-purpose protocols like Ethereum.

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Very interesting. Thanks for the in depth look on this.

What i would like to see is a way to delegate RC Seperately from steem. People with some SP rarely use their resources up, and newbies without any SP can barely Post or comment.. Delegating RC to people we know to be genuine and not spammers would really help engagement.. which took a huge nosedive after the last fork...

Agreed. I don't use the gerzillion RCs I have sitting there (5,737,061,092,142 RC) and would like to use these to support newbies. Is it possible to delegate them or give them to someone else ?

Yes im still waiting for
An answer on that.. as fas as i know It isnt possible. It seems @steem.marketing isn’t responding to comments, which is a shame / weird

Great to see the increase and communication. It instills confidence!

totally, one of the reasons steem has been a big butt failure last 12+ months, idiotic communication skills

Yes now I hope we see a video like this EVERY WEEK from @andrarchy and @steem.marketing

I think some of us with more time could even volunteer to do the interviews, and ediutr them in thsi style and allow him to post or maybe @steem.marketing and @andrarchy need to find a group of peopel he can trust with the posting key or posting permission and or use that one site i forget, which lets you set up permissions liek ability to post but noit upvote from the account, so we can see peopel submitting posts and updates and then andrarchy can go along mnanually approve them :D

IMAGINE THAt for productivity, in fact, @heimindanger ncreator of @dtube could use his new TASK system tas a sort of Monday.com or salesforce style CRM so allow a Spreadhset with tasks to be done for a set group of people, and they dont have to compeet forthe jobs, and or MAYBE theyc an :D

We can have steem marketing account or a NEW account that andrarchy can SHARE with this group of people who he can choose and they post the intervbiewsm he can resteem them, or repost, hmm maybe resteems work too but ya know, we need to be ablke to get these things upvotes too, and beneficiary rewards @likwid and @steempeak https;//steempeak.com can allow for all of this

steem doesnt need any fancy dac planned from the top down, steem IS a dac, we just have to start finalizing some of our interactions between discord and the blockchaina nd present them as the DAC they are, use the tribes as the DAC headquarters, and just start renaming parts of steem and we have our DAC

we just have to be clever with teh way we are organizing TASKS and we should be using THIS tocommand the army of minnows to promote important steem related posts on twitter https://task.steemwhales.com

Thanks to @roelandp and steemwallet this TASK site works on MOBILE now

Ill be placing some new TASKS up about this very post, I will maybe share it on twitter, and then have people go comment on it and theyll get 1 TASK worth 3 to 4 cents now.. and i have 700 + task saved up, and I plan on using them and my 500 INV steem account signup links to onbaord a lot of new investors and worker bees.

I can actually create a TASK to see if any graphs designers want to try making a INFOGRAPHIC to explain the RC and staking system on steem.. I could try making my own and have made infographcis successful ones in minutes using https://photopea.com so i wont pay very much maybe 3 to 5 TASK and 5 to 10 people can try it, but it will be up and you can try making a nice Infographic to explain the RC system

Thanks for explaining Sir.

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keep getting the word out, ty

i will be taking time to watch the interview thanks a lot

I'm looking forward to being able to delegate RC's! Thanks for this look into how and why RC's are of so much value to Steem!

This is the best explanation that I have seen of the Resource Credits system. I was concerned about not using the full potential of my account. I saw my RC's never went below 90%, and I thought I must not be interacting enough (getting full potential).
Thank you for the detailed explanation. I understand it now. Also, it is really great that we get to use up RC's instead of transaction fees. Just another great reason why Steemit stands out.

In the future there will be delegation markets so you can rent out what you don't sell. Or delegate to projects as well. So you don't feel like it's going to waste. They use those rc to generate accounts and so on.

Is this renting out option part of HF21?
I would definitely be interested in renting out my RC's. I am hoarding as much SP as I can, so it would make sense to rent out some of my RC.

No, it will be part of the SMT hardfork.

The only way I have found to make a significant dent in my RC credits is to create new account credits via Steemworld.org. Otherwise I stay close to 100% on normal activity.

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The only way I den't my RC's is if I start spamming hard! lol jk

Same here, never goes down under 99%.
I will have to check out that new account creation. I have invited some people, and creating the account would probably be faster.

I was able to create about 6-7 free account tickets based on the amount of RC I currently have. I say tickets because I have not used them all yet to make an account. Each time I created a ticket the process required more RC Credits.

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Interesting! I will be checking it out for sure. Thank you for the information.

Thanks for the informative video. I appreciate the increased communication about topics that impact the Steem community. Can’t wait to see RC delegations.

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@vandeberg... sold all his household furniture to buy STEEM

You got a Resteem on behalf of @aro.steem

I haven't seen the video thoroughly but from what I can understand, RCs are useful to the Steem blockchain maintaining etiquette among users. However, it can be dreadful to new users and the only way to have more RCs is to buy and power up with Steem.

Very nice podcast, It's happy to become this platform!

If we don't fix this RC problem soon, it will be one of the nails in the Steem coffin.