Why the Steem blockchain is the best out there and why you should think steem.
beyondbitcoin·@ehiboss·
0.000 HBDWhy the Steem blockchain is the best out there and why you should think steem.
 ___ ___ ##### The Steem blockchain in my opinion and of course with proven facts is one of the best out there, if not even the best. ##### I know a lot of people might disagree with me based on the price of steem and some other reasons I cannot even fathom, but believe me when I say that the technology behind the steem blockchain is so solid, even a rock becomes green with envy when compared with it ___ ___ # Why is it the best? ___ ___ ##### Let us start from the scratch, what makes a blockchain good? We have so many criteria such as transaction speed, efficiency, transaction fee etc ##### According to a post by @steemitblog and I quote: ___ ___ > # According to http://blocktivity.info/, the Ethereum blockchain is currently maxed out at 100% capacity. There are more than 21,000 unconfirmed transactions sitting there, just waiting to be processed. Many users are unable to purchase their kitties, because the network doesn’t have enough capacity to let the transactions through. ___ ___ ##### We are all familiar with the craze of the cryptokitties, a virtual collectible on the Ethereum network which allows you to become a pet owner (for a fee), while skipping out on the disadvantages of having real pets. Of recent, the Ethereum blockchain is having serious issues as it is estimated that cryptokitties account for a whooping 11% of the total activity on the Ethereum blockchain. ___ ___ ##### Imagine a whole blockchain slowing down because of just 11% being allocated to an innovation which was supposed to make it better. Guess what, that can never happen on the steem blockchain as the steem blockchain, even with it's numerous uses and activities and transactions is believed to be far from reaching it's fullest capacity. ___ ___ ##### Now what that means is that if the cryptokittens concept had been launched on the steem blockchain, it would not even slow the cteem blockchain down. That goes to show how solid the steem blockchain is. ___ ___ ### Transactions ___ ___ ##### Again, it has been proven that the Steem blockchain has the fastest and one of the safest means of transactions. You could send steem and sbd at the fastest speeds and it would get to the person absolutely free of charge. ___ ___ ##### How does this happen? It is quite simple. Steemit makes it possible to access the blockchain from an easy to use site. Steemit is built on the blockchain and as we all know, transactions within the platform are free and of course, there has never been an incidence recorded where the steem/sbd sent within the blockchain did not get to the receiver, save for a mistake in the name of the recipient. ___ ___ ##### Let us take this slightly deeper, some people do not know this, but the apart from the price of bitcoin, the steem block chain gives the bitcoin blockchain IMO. ##### With a transaction time of roughly 3-6 seconds, with network factored, tell me what other blockchain can beat that. Even with tens and possibly hundreds of transactions being done 24 hours daily, 7 days weekly, the blockchain is so effective, it is hungry for more work. ___ ___ ### How transactions are free brings me to me next point... ___ ___ # Delegated Proof Of Stake vs Proof Of Work ___ ___ ##### In simpler terms both are algorithms or a step by step protocol or sequence which a system must comply to. In the case, the algorithms are used for the blockchain. ___ ___ ### DPOS ___ ___ ##### A method which was pioneered by Dan Larimer, a select few delagates/witnesses or miners are chosen to basically represent the interest of an entire network which essentially curbs fraud, reduces hardware and electricity consumption, is much safer, more cost effective and more reliable. ___ ___ ##### This way those chosen can easily be monitored and their performances reviewed at any point in time and those found wanting can be removed and replaced with better delegates. This increases a healthy sense of competition for efficiency. Unlike "Proof of stake" where your finances allow you access, the Delegated proof of stake requires competence and when these people do their jobs, the network does not have to pay a lot of miners. That way they do the work and one or two things involved, we are able to get free transactions within the blockchain. ___ ___ ##### An example of a blockchain which uses this wonderful algorithm is the steem blockchain which enables me to post all this information. ___ ___ ### POW ___ ___ ##### In the proof of work, anyone with the hardware can join in and believe me when I say this is not cost effective and consumes lots of power which in turn slows the transaction time. ___ ___ ##### Because of the amount of "unchecked" miners, a transaction fee is required and as such we lose a bit of our cryptos within those networks anytime we transact on blockchains using the proof of work algorithm. An example of a blockchain using the bitcoin blockchain. ___ ___  # Use of smart tokens and supported apps ___ ___ ##### Just this year @ned made the announcement for Smart Media Tokens which gives room for new and innovative tokens on the steem blockchain to reward more and this will run effectively on the steem blockchain. ##### To show you how much potentials the SMT have, a company invested 20 million dollars in the Smart Media Token technology. ___ ___ ##### Anyone can have his own smart token for a dollar and guess what, communities and individuals are already adopting the Smart Media Tokens technology billed to launch as from January next year, with vice.org and decentralized applications like the appics. ___ ___ # Now tell me your reason why the steem blockchain is not the best? Feelfree to correct me if you feel I have erred. ___ ___ ##### You can follow me on twitter by clicking the icon [](https://twitter.com/Danny_defcon4) ___ ___ ##### Thanks to @camzy/ @samstickkz and @elyaque for the animated art and badge ##### Support @curie, @ausbitbank, @teamsteem, @xeldal, @steemgigs for witness # You can help me boost my curation activities by following my curation trail on steemauto.com ( @ehiboss) ##### Images from googleimages ##### Reference [1](https://steemit.com/steem/@steemitblog/digital-kitties-on-steem-how-would-the-steem-blockchain-handle-700-000-transactions-per-day)-[2](https://hackernoon.com/explain-delegated-proof-of-stake-like-im-5-888b2a74897d?gi=cc52f04525d4)-[3](https://en.bitcoin.it/wiki/Proof_of_work) ___ ___   https://steemitimages.com/DQmYfKYGX2M8Qc8nNUi6TqUzHKoeLmafZ6PVBMjt7wjXe5R/new%20footer.gif
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