CONSENSUS PROTOCOL USE IN STEEM BLOCKCHAIN
Consensus protocol refers to the set of rules that a blockchain use to run. Different blockchains uses different types of consensus protocols, for example Bitcoin (BTC) uses the POW consensus protocol which stands for Proof of Work, Cardano (ADA) uses the POS consensus protocol which stands for Proof of Stake.
Some blockchains use other consensus protocols to run their overall systems. The purpose of these protocols is to provide scalability, security and trust to its blockchain users. Some of the major types of consensus algorithms include Proof of Work, Proof of Stake, Proof of Authority and Delegated Proof of Stake.
Steemit is a blockchain-type platform that uses the Delegated Proof of Stake consensus protocol. Delegated Proof-of-Stake is an advanced version of the POS consensus protocol. The protocol is based on a voting system in which users vote for their attractive witness to validate blocks and approve transactions.
The more Steem Power (Sp) you have, the more you can participate in selecting someone. This DPOS protocol is faster and more scalable than other consensus protocols, as it process more transactions. The actions that other algorithms do in minutes, this one does the same thing in a few seconds.
DIFFERENCE BETWEEN POW AND DPOS
| POW | DPoS |
|---|---|
| In the POW consensus protocol, miners solve a very complex computational problem to produce a new block. | In the DPOS consensus protocol, the witness who has the most skates is eligible to produce a new block. |
| It is very expensive, as this setup requires high-end machines. | It is not that expensive. |
| It consumes a lot of electricity to run. | It does not consume much electricity. |
| It is less scalable but more secure than DPos. | It is more scalable but less secure than POW. |
| This consensus protocol is very difficult to set up and manage. | It is easy to set up and manage. |
| This protocol is a completely decentralized system, because every single person has the same rule. | The holder of a large share has more power, which is sometimes seen as centralized. |
So these are some of the most important difference between proof of work and Delegated proof of stake consensus protocols.
BLOCK OCCUR IN STEEM AND HOW MANY TOKENS DOES IT USE
Each blockchain generates a block and links the block to the previous one at a specific time to form a complete blockchain. Blockchains that produce blocks over a long period of time are less scalable, and those that produce blocks over a shorter period of time are more scalable than others.
According to my research, a block is generated in 3 seconds on Steemit, which means that about 20 blocks are generated in a full minute on the Steem Blockchain. If the blocks are counted in 60 minutes, about twelve hundred blocks are created in an hour.
If calculated further, 28,800 blocks are created on the Steemit blockchain every day, with the same calculation 10,512,000 blocks being created on the Steemit blockchain every year. So looking at these calculations we can estimate the block production of steemit.
There are 21 top witnesses who validate Steemit blockchain transactions and generate new blocks. As I mentioned above, 1 block is produced in every three seconds, which means that 3.1 steem tokens are produced when new block added. So from these calculations we can estimate the block production and use of Steem tokens on the Steem blockchain.
1ST APPLICATION OF STEEM BLOCKCHAIN
Yes, I know about this first application of Steem Blockchain. The first application that was created on Steem Blockchain is Steemit. This application was launched on the Steem blockchain in the year 2016.
Steemit is a decentralized social media platform where you can earn STEEM tokens by creating quality blogs. STEEM is the blockchain's native token awarded to quality content creators on their blogs.
Plagiarism is not supported at all on this platform and whoever creates quality content here is supported by votes from curators. Votes are then payout in the form of STEEM, SDB, Tron (TRX) and Steem Power (Sp) after 7 days.
It also gives TRX which is the local token of Tron blockchain and SP is also given as a reward. More SBD, which is the stable coin of the Steem blockchain, is awarded to quality content creators.
The Steemit decentralized social media platform has many communities where you can share your expertise content and earn STEEM and other tokens. The best thing about this application is that here you can make very good friends from all over the world.
In this, if you have more Steem Power, you can vote on quality content in reward of which you can get crypto in the form of Steem Power (Sp) and TRX. At the end I will say that this is a platform of true and real people.
PROOF OF BRAIN (POB)
Proof of Brain (PoB) is a method that is being used on many decentralized social media blogging platforms in the world today. This means that whatever content the user is creating, he/she is creating it only with the help of his mind or his own skills, he/she is not copying data from the internet.
Since Steemit is plagiarism-free decentralized social media platform, it wants all users to use a proof-of-brain approach to create creative and quality content. This procedure is used by both the authors and curator. Only the content or posts are supported on Steemit that are plagiarism free and follow the Proof of Brain (PoB) mechanism.
In short, a user creates quality content with his brainpower and uploads it to the Steemit platform, after which a curator visits his post on the platform and checks the post quality and the evidence of the user's brainpower and votes accordingly. So Proof of brain mechnism is both for aurthors and curators to get rewards from the pool.
https://steemit.com/hive-172186/@malikusman1/achievement-1-by-introduction-malikusman1
WRITER:
Assalamualaikum brother.
You have explained this post in a very good way. I really appreciate your time in explaining about the Delegated Proof of Stake mechanism. Yes, it is more advanced and new algorithm as compared to the ancient one, Proof of Work (PoW).
The Proof of Brain mechanism is high appreciated in the social media platforms like Steemit. I really like it because in this way, the quality of the content that is shared and supported on the Blockchain can be improved.
The plagiarism is highly tolerated and this is because that it goes beyond the Proof of Brain mechanism which is adopted by the blockchain. The curators, as well as, the authors have to use their grey matter and skills to ensure the quality of content be created and support.
Thanks a lot for your precious entry here. I wish you a very good luck for the contest.
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Besides being more advanced, this algorithm is also better than others. Because PoS and Pow are less scable then delegated proof of stake.
Yes, It is one of the very good thing that i like the most about steemit that It works on proof of brain mechanism.
Dear brother thank you for the great and valuable comment.
Greetings and many blessings for you. I pray for your success.
Best regards
@malikusman1.
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Your article has been supported by @josevas217 from Team 2 of the community curator program. We encourage you to keep producing quality content on Steem to enjoy more support from us and a likely spot in our weekly top 7.
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@tipu curate
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Upvoted 👌 (Mana: 1/6) Get profit votes with @tipU :)
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Hello friend,
Steemit is indeed a anti-Plagiarism supporting community which has a record of 0% tolerance to plagarised content no matter the author or rep the offender must be punished if caught.
With this proof of brain mechanism this bad users can be easily fetched out and removed by downvoting to avoid spoiling the community naive reputation.
Thank you very much for sharing, please you can check my own entry here
wishing you success
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Yes brother there is not doubt that steemit is a plagiarism free decentralized social media. Its proof of brain method make it more creative and plagiarized free. Thank you for coming to my post and for your beautiful comment. I will surely visit your post soon. Greetings and blessings my dear brother.
Best regards
@malikusman1.
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Congratulations, your post has been upvoted by @scilwa, which is a curating account for @R2cornell's Discord Community. We can also be found on our hive community & peakd as well as on my Discord Server
Felicitaciones, su publication ha sido votado por @scilwa. También puedo ser encontrado en nuestra comunidad de colmena y Peakd así como en mi servidor de discordia
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Thank you for the support sir.
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I also agree with you, the block time should be faster so that congestions doesn't happen on the network and through that the blockchain network will be very scalable.
We can not compare the scalability of the Steem blockchain to Bitcoin because the block time of Steem is 200 times lesser than Bitcoin's and that makes Steem more scalable.
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Yes, steem blockchain is more scalable than bitcoin blockchain because steem blockchain has faster transaction speed then bitcoin blockchain. Friend, thank you for your engagement with my post. It means a lot for me. I wish you success.
Many blessings for you.
Regards
@malikusman1.
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Your article has been supported by @josevas217 from Team 2 of the community curator program. We encourage you to keep producing quality content on Steem to enjoy more support from us and a likely spot in our weekly top 7.
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Thank you for the support dear friends @josevas217 and @steemcurator05.
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