Vlog 164: While Ethereum is at 100% network capacity STEEM is only using 0.36% with an equal amount of transactions.

in dtube •  7 years ago  (edited)


STEEM is finally gaining some traction as it rightfully deserves.

The price has gone through $3!

Congrats to everyone that has STEEM tokens.

In this video, I wanted to share something else that's cool about the STEEM blockchain and it's about Network capacity.

Ethereum at the moment is doing the most transactions (1,067,235) in the last 24 hours and STEEM is second (1,032,338)

The huge difference is that Ethereum is at 100% network capacity with 8000 unconfirmed transactions while STEEM is at 0.36% capacity with no unconfirmed transactions.


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source


In other words, STEEM can still scale while Ethereum cannot at the moment.

What's cool is that the Steem Inc. team is already working on scaling the Steem blockchain even more and it's a top priority.

They foresee a lot of growth. SMT's, in my opinion, will be the reason. Now that's forward thinking.

Of course, there are many other benefits to the Steem blockchain.

  • No fees (zero!) on transactions
  • 3 seconds block times
  • Being able to send currency to usernames and not long keys.
  • Stolen Accounts Recovery

To name a few.

I talk about it more in my vlog and share my screen to explain the website.


I used the site http://blocktivity.info as my source. It's a fantastic site to show how good the Steem blockchain is.



I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.

We build Steemify a notification app for your Steemit account for iOS.

Get it Here:



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best blockchain ever!

This is forward thinking, You knew a long time steem is the better blockchain.
You keep on buying steem.
And now the news starts getting out that we can handle more and transactions are free.
I am just typing what you said before.
Sometimes it is good to remind steemians what steem is.
Thanks for HODL.

Thank you. And let's see what the future brings!

Futuremore, because we have all these third-party developers developing new websites and interfaces.

The steem devs can prioritize on the core block-chain tech.

Yes! You are absolutely right!

yes he is...😎😎😎

shouldn't the price should always peg to 1 dollar?

You are mixin steem and steem dollars man. Steem has no guaranteed price while 1 steem dollar can always be traded to 1 dollar worth of steem.

Thanks for the clarification!

The Bitcoin developers are walking into a big problem here, $20 transaction fees are simply unacceptable and the lightning network is just too complicated to ever see mass adoption. In fact, I believe the only coins that have the potential for mass adoption are ones with no fee, or very very low fees like Stellar Lumens

time to sell the rest of your eth then right ? ;) I mean if pussycats can break the whole network then imagine what else could break it

  ·  7 years ago (edited)

Glad to see Steem crossing $3 mark... still looks very solid and bullish... I feel that Steem is playing the part of Santa this Christmas month and spreading joy and money. Congratulations to all Steemians!

It's good times on the steem blockchain at the moment indeed.

Hi @exyle ..... I know I being cheeky but can you point me to a tutorial, steem post where I can read about how to vlog? Would be much appreciated...thanks.
And for the record you are a great example of what can be accomplished on Steemit... keep steeming {smile}
The self upvote is just for visibility ....

Grab a camera (I use my iPhone) record yourself and upload it to d.tube. That's it :)

I cannot seem to login over there... but no sweat I am sure I will get there eventually. Thanks for taking the time to respond..... much appreciated !!

You have to log in with your private posting key. Have you tried that?

wow excellent educational video my friend, honestly i don't know about this website before but today curtsy to your post and video i able to know about it and also know how to differentiate between scalability of the blockchains, you analysis are perfect i also thinks that if that scaling problem continue then ETH and BTC will collapse soon and no doubt steem coin has bright future ahead and full marks to steem team and developer's who are doing hard work behind the scenes to make steem blockchain the perfect chain among all, thanks for sharing this nice information with us, it's really helpful to me, Stay awesome

  ·  7 years ago (edited)

Wow, clear scaling issue on Eth (Pending 9k tx) and Btc (Pending 149k tx), and kudos to steem..

Yeah im collecting steem as well, and it is so wondeful to work through blogging, writing comment, curating, and this is something, common ppl can do to earn extra crypto's (steem) for collection. Bet u can't earn with other crypto's as other requires trading knowledge or staking (more investment) to earn extra crypto's to multiply ones income...

This is why another reason that steem is so capable to grow to everyone reach, and definitely the price have so much room to grow as well, perhaps 1k USD per steem to reach BTC market cap, which is doable with the things that steem have now and going to have with SMT and many more other things which is coming up as beautiful icing on already very beautiful cake... love always on steem... very informative Vlog.. thanks. :) @exyle

I'm sorry for the tripple post! I didn't see any reaction when I hit the "Add a comment" button so I thought it wasn't working. At least it proves my point that I am new here ;)

Don't worry this is how you learn.

@exyle,
Wow this is amazing tool and it already proven STEEM is the best! When SMT comes STEEM will be the precious thing ever! As you said HODL!
Thanks for providing this information bro!

Cheers~

It's great to see Steem finally back above $3. I believe it's one of best investments to make in general especially considering how well it scales in comparison to Eth.

More and more people I finding out about the advantages of this blockchain, this combined with ethereum struggling to scale will definitely put steem in the forefront of investors in the near future. I'm just glad I can enjoy the good times with other people on steemit :)

I can say steem has become a source of livelihood for a person like me and I know there are several others who are dependent upon steem exclusively.

The rate is around 3 usd and in coming days we can see it at 5/6 and the long run is quite bullish because it has so many good features.

Steem on and stay blissful.

Yes, so a lot of room to grow to go to only 3% capacity... finally we have some traction on Steem.. I hope it grows or keep here for some time..

I sure would like to bend your ear with a few questions. I would love to buy some Steem. I am relatively new to this space, I watched and studied blockchain and coins for a long time before getting involved. So I finally bought a few currencies on Coinbase a month ago.

They say I can use GDAX to trade my little bit of bitcoin for other coins. So I go to do just that and I'm hit with "We need to turn your camera on while we watch you upload you State issued ID" What is that all about? I though cryptocurrency was supposed to be at least somewhat anonymous.

I can't seem to trade the Steem Dollars I've earned here for Steem tokens so I'm at a loss for how to do any of this? On top of that, because of the state I live in most crypto-trading-platforms are blocked.

And even if I was willing to do the Orwellian thing and submit to being recorded, my id was in my wife's wallet when she lost it. So I'm stuck in that case until I can receive a new one.

Basically, is being recorded and tracked part of the crypto-experience?
Is there any way to get Steem with Steem Dollars. Any other thought on my situation would be helpful. Thanks in advance!

We have an internal market on the site! https://steemit.com/market. You can change SBD to STEEM there.

and just passed 500,000 users/accounts?, on our way to 1 million :) 🏆

I have often wondered why steem is so undervalued (compared to other cryptocurrencies). Especially with the focus that Steem Inc. is giving to their market. You mentioned above the comparison to ETH, but compared to Bitcoin, steem is far superior!

The Bitcoin Dev's always seem to be infighting such that they are not listening to what the market wants and as a result, transaction fees and time makes it almost unusable.

With the SMT's starting to be released, one of the best online wallets, zero fees, 3 second block times, etc etc, I see it as the crypto to compete against.

The only "competition" I see for steem is EOS. (The irony based on the founder is not missed). But in the free market, competition is a good thing.

At the moment I think it's far superior to anything else for the reasons you stated. I'm happy to see that this is starting to be recognized by the markets. Will EOS have an effect? I'm not sure.

Thank you and congrats to you too for patiently holding on to steem for such a long time. Cheers!

thank you.

@exyle I always try to get to your postings as soon as I can. You are like my Mentor on STEEMIT without me even asking you if you would be my Mentor. I am so excited for everyone that is here and how STEEMIT is really making a BIG change in so many people's lives. We are here so early too and more are coming. I feel Double Digits in STEEM are Coming and so does @jerrybanfield ......

Excellent post! Steem is one of the best investments for 2018.

Oh, yes, my friend, the capabilities and potential of the STEEM is very multifaceted, that only the network bandwidth is worth, and so are many other advantages! Also very pleased with the increase in the price of the STEEM , this instills confidence in the future and gives a big knock on our business! Thank you @exyle and keep us informed of what's happening!

now i feel free and more exciting to watching this 10 minute video and only i say that i dont need to any job or any thing ever other cryptos now i only stick with steem for always man

In recent times, Bitcoin and Ethereum have been at peak capacity for days.
I just can't imagine how unconfirmed transactions would even look like on the steem blockchain.
Just yesterday I sold some SBD for Litecoin and I waited 10 minutes for the Litecoin for it to get the required 6 confirmations. I know that's pretty fast compared to BTC and ETH but instant, zero-fee transactions on steem have really spoiled me!

It is really amazing how inferior technologies are valuated so much more than superior ones. That's like paying 10,000X more for a betamax instead of getting a blu-ray.

I like the comparison! It's also teaching me a lot about the investments that happened in the dotcom times.

Thank you for all the great information. Understanding the investment aspect of Steemit is an ongoing education for me, so I truly appreciate it!

Your welcome.

can you imagine how busy it's gonna be when that speed goes up even more, i can't wait to see what the boys can crank up the network speed of this blockchain! :)

It's incredible what they have achieved so far. Can't wait to see what's coming.

No fees and instant transactions HAS to attract people. Steem has a bright future I am sure of it

Mark, this is GOOD in two ways; Very good informative post and Very good from the Power STEEM has.

I didn’t know this, but this is a guarantee for succes!

That is why I love steem. and most important thing is for making a trsaction there is no fees involved. the excellent blockchain it has and that is why I say steem is undervalued and steem should trade above 10 usd.

Thank you @exyle and Have a great day.

Yes - great day for Steem holders. Agee that the scalability of this platform is amazing. We are seeing other platforms hit a brick wall. I think we will now see bleed over from other platforms.

Thats one of the reasons why I think eos is going to be huge!

I miss the days where steem still hovers around 0.80cents though, feels cheaper to purchase haha.

Steemians... the rise up of steem is happening!! Invest now and you'll not have to regret in the future...

Just amazing that there are coders that can see the deficiencies in other cryptos and improve on it. And also that you were able to boil this down to such a clear and concise post. Thanks.

  ·  7 years ago (edited)

thats congrats for steemians and holders and nice to say and talk about these and sure i hope the steem is value worth equal to eth soon @exyle

Happy Christmas

Great article about a fantastic platform, Steem on my friend

Steem reached $5 once.

Once the masses realise the potential of STEEM - it will go very, very fast..

But I always have to cringe when people on reddit talk about how much better eth is because they can handle a few more transactions than bitcoin.

  ·  7 years ago (edited)

Ethereum at the moment is doing the most transactions (1,067,235) in the last 24 hours and STEEM is second (1,032,338)."

The huge difference is that Ethereum is at 100% network capacity with 8000 unconfirmed transactions while STEEM is at 0.36% capacity with no unconfirmed transactions. What's cool is that the Steem Inc. team is already working on scaling the Steem blockchain even more and it's a top priority."

The team working on the Steem blockchain is amazing. I had no clue about these figures. Good info @exyle. Thanks.

@exyle Steem is currently processing more transactions per second than BTC and ETH combined! And it's not even that popular compared to others! Too many technical reasons as to why it will explode sooner or later! Zero fees! Quick transactions! I really can't understand how there's billions and billions being invested in other, slower, obsolete (if I may) cryptos!

Steem is the future! Too underrated! Maybe the most underrated crypto at the moment!

Highest Regards
@lordneroo

  ·  7 years ago (edited)

Great news at the morning...Really steem is a strong rock...

steem is getting developed each day the content creators are enjoying the freedom they get on this block chain we should be thankful to all the developers out there they are reason we see each other on steemit :)

Dear @exyle I'm really happy that I followed you and whenever you post a blog I get notification. Actually I never wanted to miss your blog. The only reason is that you wrote 100% correct and your research and prediction on it is unbeatable. This blog has some beautiful facts which should be written in Golden:
Ethereum at the moment is doing the most transactions (1,067,235) in the last 24 hours and STEEM is second (1,032,338)
The huge difference is that Ethereum is at 100% network capacity with 8000 unconfirmed transactions while STEEM is at 0.36% capacity with no unconfirmed transactions.

This is another superb information:
Steem Inc. team is already working on scaling the Steem blockchain. I know people will get lot of benefits once scaling is done.
Sir @exyle please carry on your research and keep sharing your true blogs for betterment of this awesome community.
I will request that please do some research on top 50 alt coins and suggest at least 10 coins where should one invest ...? All the best for everything and Stay Blessed!

I guess the lightning network will improve ethereum's capacity to process more transaction. Honestly, nobody has any control over how Steem or Ethereum will do in the future. In my opinion, if you are in doubt, just invest in both the technology. It definitely takes the guesswork out. I still see huge potential for both platforms.

I think a slow but steady growth is the best way for steem to go.

Are you from the Netherlands? :)

yay! keeping my fingers crossed.

  ·  7 years ago (edited)

Steem's price is $ 3.25. Its price is coming out. You can tell how much it will be. But I have faith in litecoin. One day's price will be very much. Do you think?

Steem is future.Can't wait to have some:)

Thank you for the interesting post, all very exciting news. Will most certainly be investing this evening. Thank you again for keeping us all informed. Jeff

great information on steemit progress cheers all user.

Steem is so awesome it's uncanny. Can't wait to have me some steem!

the scale of major,,,
they produce them on a large scale

Bu günkü konu ilginç şeyler fark ne

enjoying much and fully excited with current rates of cryptocurrency specially steem & SBD. cheers.

  ·  7 years ago (edited)

wow nice video...thanks for shareing friend.. 👌

I love seeing how Steem is being a coin that people actually wants to invest in. Steem is over 3$ thats correct, but SBD is over 13$ which is insane! The growth of Steem lately is great and i hope it will keep growing.

@exyle what do you think steem will go up more or it will stay around

nice video man.

@exyl nice bro. You are lucky :)

Eth is a great project

At this rate, I won't be surprised if STEEM clocks $7.00 in January

Look, guys, Steemit is a revelation of this year for me, so far is Ethereum. Steemit is more of a frontend and less backend, Ethereum is fullstack thing. Where is decentralized browser on Steemit? Where is decentralized (distributed) computer? Where is Steemit Virtual Machine to run some smart contracts? Even as a concept...
It's just ETH can do more specific and global needs (EVM, Distributed computing). Steemit has a chance to become a standard of new smart media era. This new ecosystem won't have a need to use ETH, but in another areas ETH would become a standard.

Steemit indeed has a bright future. Youtube demonetization will do some work, Instagram will decay slowly (why should you post good stuff for free, if there is Steemit/Steepshot?), Facebook sucked ass from the beginning and other stuff someday will find their projects lifecycles to end.

Wow its happy to hear ... great and good info to all steemitians.....tq exyle to sharing this good info....

Great news bro.

@exyle bro can i resteem your posts ???

Nice post sir I love it.....

Ones in a while you can also visit my blog @abiye and check out some interesting article

Thanks for all of the information, you have been a huge help to this newbie!!

STEEM is living the dream ! What's your view on hashgraph tech? peace

Steemit is love! :)

People are using this cryptocurrency like a charm. Now they have recognized its power and it is the time to go to the moon.

I am new to Steemit. What is currently the best place to buy STEEM via credit card? Thanks!

I am new to Steemit. What is currently the best place to buy STEEM via credit card? Thanks!

I am new to Steemit. What is currently the best place to buy STEEM via credit card? Thanks!

Wow, so good to be in this boat then! =)

Amazing post 👏👍👍👍

Steemit still has a huge margin of progress, it offers so many great features that it is even impossible to predict what exactly it could become and what kind of businesses, markets it could replace.

woww awesome post dear friend.. ohhh yeah you are looking very cool with Christmas tree.. Hope you are enjoying lot this time with this good news...

Yes there is considerable growth of steem I fully expect it that the price will go up further. @exyle

Writing skill is good. Story about steem and analysis is quite excellent. Thanks for the post

that pretty cool to know

steem transactions are quite fast and easy as compared with not only eth block chain but many others we have got such a cool system no fees at all and instant options its make me truly wonder sometimes :)

nice share thanks pls upvote :)

So, this means Steemit is not even 1% of the network capacity that ETH is using at the moment. This is so pleasing to read and know. These are some advantages of Steem over other coins:

  • No fees (zero!) on transactions
  • 3 seconds block times
  • Being able to send currency to usernames and not long keys.
  • Stolen Accounts Recovery

By the way, in future, does Steemit plan to allow its users withdraw money from it directly without involving any exchange/third party?

Great post @exyle.

Steem On!

I like your post,I like your christmas tree and I LOVE STEEM going up!!!

wow this is mind blowing when you see what a great opportunity steem block chain has got to serve people one more reason to move towards it :) thanks for sharing

Something nice to approach is the steem coefficients of Eth coefficients
And the price has exceeded $ 3 I think it will reach the SBD
We wish good

It also supports other open-source project which enables third party to develop and synchronize the replica of steem interface.

All these good factors will factored upon steem and steem will go higher and higher only.

yes i am here

wow steem block chain is really rocking in the numbers too right now on the second spot not too much time it will take to come at the NO.1 spot

Bitshares and Steem are finally getting the attention they deserve, to a profitable 2018 :)

Thanks @exyle for the information, great to know. Exciting times ahead for Steem. Can't wait!

Thanks for the great information about the increasing price of steem token. You are fantastic, wish you a very beautiful time ahead my friend.

DQmex2bHysWCkJECcrPTnkti1zR8umPhmvhkXMfJgCAC227.gif

As long as we keep doing the right things in STEEMIT, only good will come.
In the meantime...
BUY, BUY, BUY :-D
Merry Christmas!!!

  ·  7 years ago (edited)

Credible speculation and very interesting. What about the Steem dollars? What future

steem is rocking at 1 position now just saw the data i guess lot of competition going on between steem and others which is good for the progress