January '19 New STEEM Account Report

in utopian-io •  5 months ago 

Each month I will be producing a report with details of New accounts created on STEEM.  It has long been established that the account creation route via Steemit Inc has flaw, with delays, batch account creation and users never activating accounts one they have been created.

At one stage Steemit Inc conurted with this problem and issued a post stating they have put in place measures to track every stage of the sign up process, from first landing on the sign up page to logging into their newly created accounts.  However we have seen no further information from Steemit inc to see where the exact problem is.

HF20 implemented changes to account creation.  These changes made is easier for others to create accounts using free account creation tokens.  However, this process still requires delegation, so accounts have enough RCs to transact.  There was also a change in accounts created with fees where by under the new system, the fee would be burnt.

Aim of Analysis

The aim of this analysis is:

• Establish how many new users registered

• Establish what % of accounts have posts and voted and are just wallet holders.

• See who is claiming account creation tokens

• Establish if delegation is been given to accounts so they can transact. 

 Repository

https://github.com/steemit/steem

Overview

Jan 18

  

December 18

  

January 19

  

Jan 18 was a peak month for account creation with over 159k new accounts created.  As previously highlighted Dec ’18 was a problem month, as Steemit inc under went some changes and account creation hit rock bottom.  It had been identified that come the end of Dec 18, Steemit inc was sitting on a backlog of accounts to be created.

Jan 19 shows much improvement with Steemit inc again creating the bulk of new accounts (89.4%).  This % of accounts created in Jan 19 by Steemit inc is higher than other months since HF20 suggesting that steemit inc tackled the backlog of accounts not created in December.

45% of accounts created in December have never transacted on the blockchain via wallets or posts or votes, this can be compared to 36% in Jan 18 and 58% in Jan 19.

Another notable different between Jan 18 and Jan 19 is the Creation fees.  This change is down to HF 20.

Two interesting values I keep an eye on are the % about profile complete and the % of accounts with website on their profile.  These values give an indication of the caliber of user.  Those with intent of using the platform will have more tendency to complete their profile.


Activity Level by creator

Taking the top 6 account creators, below we can compare the activity levels of the accounts created.  Partiko stands out with the highest % of accounts not active in any form.  Blocktrades stands out with the highest % of wallet users and Oracle-d stand out with the most accounts considered fully activity (that is the have both voted and posted)

 

HF20 Changes

Under HF20 accounts can now be set up by either burning the STEEM and sending delegation so the accounts can transact, or they can be set up with discount account creation tokens where the fee is 0, however these accounts also seem to need delegation to transact.

  

98.32% of new accounts set up, were set up with the newly introduced account creation tokens.  The balance was made up of accounts set up by burning steem at 3 steem per account.

However when accounts are set up, without delegation, there resource credits and voting mana need to be boosted so they can really transact on the block.  So many new accounts have received delegation?

18,884 which is 75% of accounts set up in January have received delegation.

Of this 18,884 account that received delegation, just over 95% received 30K Vests which we can see in the pie chart below

The first table below shows the new accounts, who set them up and how much in delegation they received.  The second table shows the people setting up accounts and how much in delegation they accounts they set up received.

   

Account Creation Tokens

The introduction of account creation tokens in HF20 allows users claim the right to set up an account.  In total 61K account creation tokens were claimed in January.  Below shows who has been claiming these account creation tokens.  We can see Steemit Inc has claimed 22% of these, yet they have set up almost 90% of new accounts.  

 

Conclusion

2018 seen a down trend each month on the number of new accounts created.  Due to the standstill of accounts created by Steemit Inc in Dec its hard to tell if this trend has bottomed but I will be keeping an eye on things as the months progress.   Partiko has a large portion of inactive accounts however the total number of accounts created by them is rather small and therefore would not have a large impact in the overall number of non active accounts.  therefore I would put the increase in non active accounts down to the account creation delay by Steemit Inc.

Although there are many new account creation services, such as Steem-ninja, we have yet to see a large shift in the % of accounts set up by Steemit Inc v’s others.

 

The Data-source and Query

As always to produce this report I connect to Steemsql (paid subscription services held and managed by @arcange ) with Power BI. The SQL query used to gather the data for this report was

Select *
FROM Accounts (NOLOCK)
where   
( created >= CONVERT(datetime,'01/01/2018')
AND created< CONVERT(datetime,'12/01/2018')

To get details of who set up each account I used the following query

Select *
FROM txAccountcreates (NOLOCK)
where   
timestamp >= CONVERT(datetime,'01/01/2018')

and to get details of accounts that used their wallets I used the following

select [from], timestamp
from TXTransfers
where   
timestamp >= CONVERT(datetime,'01/01/2018')

The query used to find out who is claiming accounts was

Select *
FROM TxAccountClaims (nolock)

Once I loaded the data into Power BI, I then carried out transformation and calculations using DAX language. 
 


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Hi @paulag, thanks for the update on the account creation stats. Great to see that Steemit resumed account creation after the "break" in December. They are still the most prominent account creation services and others aren't even getting close, even with the HF20 creation methods. Coming from around 14k accounts created in November and seeing around 25k now in January is a positive sign, I think. The comparison between Jan '18 with '19 is impressive, though. We're still far off these numbers and I wonder if we'll ever get back to these growth levels. I like the activity breakdown by creator - I would not have expected much differences between them!

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Thank you for your review, @crokkon! Keep up the good work!

Interested to see if we see any improvements on the data with HF20 during the next bull run if any. I need to start putting more Steem Power to the side so I can delegate some to new users to help with any RC issues they are having. Would be interested to see if a fund was set-up that could automatically delegate to new users that met the "fully active" requirement. Maybe they'd get 2 SP delegation for 1 month for completing each of the tasks (10 SP delegation total)

Linking a website in their profile
Filling in the about me
Upvoting a post
Making their first comment
Writing their first post that meets x requirements

I use 2 and 10 as arbitrary numbers as it would need to be determined how much SP would be adequate for new users to interact and grow.

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I really really like this idea. In fact I am going to ping @abh12345 as I think with some data @steemcommunity witness might be able to do something here

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Sounds good :)

Will likely require a bit of JSON parsing to get some of the data in the list above, but rewarding tasks as they are completed with a little delegation is a cool idea.

New accounts created with tokens have ~6m RC without SP or delegation, which is enough to transact but not very often. Example: this comment.

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I see from https://beempy.com/power/ninjamine that you have two comment left with your RCs. At 5 days to regenerate that rather shitty

What if most of the new accounts are actually alts from many users. I can't comprehend that a new user - completely new user without a friend on the chain already would get a delegation.
But it is nice to see that we are making some new accounts after all :)

Very nice analysis.

Cheers,
@svemirac

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Most of the accounts are created through Steemit, which delegates to new users, so that explains the high percentage.
And some other accounts creators also offer delegations (I know we do at Share2Steem, the accounts created by Oracle-D through steem.ninja also gets a 90-day 15SP delegation, and so on...)
As accounts created with no delegation are unusable (or almost), dApps are forced to delegate to accounts they create, or it's a user lost for sure.
But the really high percentage is explained by Steemit delegating to new users who create their accounts through steemit.com

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have to agree with the comment from @algo.coder. Delegation is needed, 30k vests is only a tiny amount of SP

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Delegation is certainly one way, but I think you will also need to analyze if they power up SP as well.

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Powering up is really important and i do intend on a future analysis on power up as well as including some addations to this monthly post moving forward

Posted using Partiko Android

Thanks a lot for this insightful data !
Although what is strange for me is the differences in "Not active" / "Fully active" categories depending on the source of the account creation. Would be great to have more info on that.
Maybe see for the active users (excepted the ones created by Steemit) the type of activity (vote, post, through which app, etc...) to see retention factors.

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I carry out a churn report each quarter. Next quarter i will be adding to this report the chrun/retention per account creator. I think it will be an important metric

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Great, I'll be looking forward for the next report then.
Keep up crunching numbers ! Thanks for your work.

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yeppeee thanks

If I'm reading your chart correctly, there were no "inactive" accounts purchased from our service? Or just too few to show on the pie chart?

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there are no inactive accounts, however wallet users are accounts that were not active on the social side (posting commenting or voting )but had transfers

1.png

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Is there an initial transaction to/from blocktrades that will meet the criteria for 'Wallet User'? If so, maybe this one should be ignored?

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Many customers are buying with other coins (e.g. bitcoin, eth, etc). Since the price vs Steem fluctuates, we give them additional Steem when they pay more than the minimum required, so there will generally be at least one transaction from us to them where we send them the extra Steem. This might account for it.

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Ahh, right. So 1 transaction could be categorized as 'Inactive' and > 1 a 'Wallet User' for next time.


Thanks for going over Worker Proposals on the SOS forum yesterday. I think they would be a good addition and i'm willing to take a hit on author rewards in the hope WPs provide greater value to the token further down the line.

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good spot @abh12345, will adjust in the next post

That's a good number of new accounts last month and many seem to be active. I'd hope that bodes well for us.

I've been claiming lots of accounts that I want to give away, but am not finding recipients for them. I need to work on that in coming months.

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lol im finding it a little hard too to give away the ones I claimed, but Im going to keep claiming them anyway because I think when crypto becomes more mainstreem please will be crying out for them

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At least the Dec 18 trend did not continue which is encouraging. From my recent curation efforts on the #introduceyourself tag, I am seeing more posts and even some good ones. It seems that it could be going in the right direction although I think more diversification from Steemit would be positive.

Posted using Partiko iOS

everybody who is Dolphin or higher (e.g. has enough RCs to claim accounts) and does not use the RCs otherwise, should stack up on claimed_accounts to create accounts for free if needed.
Your account has enough power to claim an account per day. Why not setup a little cronjob somewhere to autoclaim every time you have enough RCs? I did it for my account with beempy and get a new a claimed_account token every 3-4 days.

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I do claim account creation tokens and yes, I would agree with you, please that can should claim them. But I dont have the skills to set something up to claim them for me, so I do it when I remember.

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This is great piece of work. Even I joined steemit back in Jan 2018 when it was getting popular. People were talking about it on various social media platforms. But a slack year for Cryptos has brought all the enthusiasm down. Hope this new year brings some light.

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Very good in-depth report on accounts created @paulag we just hope that newcomers would get a success in this platform since there are a lot of steem dapps that they could use based on their interests.