The STEEM Blockchain Hits Over 1 Million Transactions For The Second Day Running

Source: https://www.blocktivity.info

The STEEM blockchain has once again demonstrated its' incredible scalability by surpassing 1 million transactions and becoming the worlds most used blockchain. Not only this, but most impressively of all it used just 0.3% of it's transaction capacity.

I'm excited about this not only because it proves that the STEEM blockchain has true functionality, but because it also shows greater user adoption, all whilst BTC and ETH are running at max capacity. The contributing factors for the rise in activity in my opinion are as follows...

1. The high price of the SBD is driving people to use Steemit more, since it is now more lucrative to post here people are now more incentivised to come to the site.

2. The increasing SBD and STEEM token prices are driving new users to the site and causing more people to sign up, some of which will invest in STEEM and further drive up the price.

3. Steemit is now higher in the Alexa rankings (https://www.alexa.com/siteinfo/steemit.com) than ever. It is now the 1,893rd highest ranked website in the world, with a lot of traffic coming from social media rivals such as Facebook, youtube and reddit. It's encouraging that people are coming over from these sites to try Steemit, and this will hopefully increase more in time if these people are impressed and have a good user experience.

4. Another factor is that people are coming from Google searches because Steemit contains a lot of useful articles on a range of subjects people want to research. For example on Alexa you can see a lot of traffic coming from Google from people who are searching "Bitconnect scam" and other search terms that are not directly related to Steemit or STEEM itself.

I think the higher the STEEM price goes the more people will come to Steemit and be incentivised to sign up. In this respect we could really see a snowball effect where the token price grows exponentially. Higher price will drive more users which will in turn drive a higher token price, it's like a vicious cycle which is not vicious at all and in fact rather brilliant!

Platforms such as Dtube, Dsound and Dlive are also playing a role in the growth we are seeing, remember, people using these sites are also contributing to the blockchain activity statistics. When the SMTs are launched they will only help to drive more usage and we could easily see STEEM become the most used blockchain by a country mile, at least until the launch of EOS.

Personally I think the community should be doing more to push the currency use case of the STEEM token. It's characteristics as a currency are fantastic and it could and should have more commercial usage. In fact I believe we are only a mobile wallet away from being better than almost all other currency coins. My reasons for believing STEEM is great as a currency (means of exchange) are:

• Free transactions
• Almost instant transactions
• Addresses which are simple and easy to remember (not a long line of random characters)
• Scalability, as we are running at 0.3% capacity we are a hell of a long way away from running into same problems as BTC

Yes, it's true that we don't have good privacy here but most people do not care about keeping their transactions private. Those who do can always use a coin such as Monero whenever they wish to make an anonymous transaction.

In summary the future of STEEM is looking good right now, and we are moving in the right direction.