At current capacity Steem could handle around 290 million tx per day according to Block'tivity stats. This would put Steem behind by a factor of 11 in terms of it's ability to handle facebook-like activity at present 3.2 Billion likes and comments per day.
RE: Steem blockchain breaks 1,000,000 transactions!
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Steem blockchain breaks 1,000,000 transactions!
I imagine that if any blockchain-backed decentralized synchronize database messaging system ever got close to being taxed by carrying Facebook-like activity, we'd see migration to a newer, faster – or at least better backend-supported database solution.
That is, after all, what we're talking about – a distributed database with replication which covers keeping track of all the usual things that a forum/social network has to keep up with as well as token transactions.
Or, more succinctly, "if that ever seems to be a threatening situation, I feel pretty secure that some solution will be found by then, because it's going to be a long time before that's an issue."
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If we even get close to such activity, Steem makes it completely trivial for the top witnesses to come together to decide to increase the block size.
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Magnitudes better than Waitcoin
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