Most of people, even in crypto space, are not aware how efficient Steem blockchain is. But for me, one of the most important metric of Steem is real usage, by real people.
Capacity Utilization Index
While other blockchain are currently utilizing most of their capacity:
Steem network is currently using only 0.11% of a capacity (not 11%, but 0.11%!)
Other interesting stats
Yesterday I showed that data to my friend. He asked about 2 other things:
How big Steem blockchain is?
In terms of stored data, currently it is 52GB - this is... a lot. I mean - Steem nodes needs to store a lot of data. Is it good for Steem network? Not really. For example, integrating Steem blockchain on Exchange requires not only storage space (which is not expensive), but a lot of RAM as well (16-32GB)
How many nodes Steem blockchain has?
To be honest, I didn't found exact numbers, which I was looking for. On websites:
I have only found information about seed nodes. 2nd websites lists ip addresses of 99 seed nodes, from which 94 nodes has positive score. I think that in terms of seed nodes, that number is not bad. In terms of all nodes everything below 1000 nodes would be... not so great.
How is that? Ethereum network currently has 25102 nodes, Bitcoin network currently has 11738 nodes. In my opinion, low number of Steem nodes is a consequence of high requirements of running Steem node.
If you where number of all Steem nodes can be find, please let me know in the comments.
The future of Steem
Current usage of Steem network (0.11% of capacity) can create a misleading impression, that nothing has to be done and we should be able to scale without a problems. The truth is different.
Right now running a Steem node on home computer is very difficult or not even possible anymore. Fortunately, Steem developers are aware of challenges which are ahead of us. If you want to learn more, you should definitely watch a talk of @vandeberg from SteemFest2:
can't wait for Steem to explode in value
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wow... it looks like we have a hidden diamond...
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Yeah a kind of, we need to take care of it
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Thanks for your article, steem and Steemit seems to be going in one direction hopefully it will be a great year for all involved, cheers mike
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Steemit is based on a social networking platform. This feature is very unique in the world. I believe Steemit will go up more and more.
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With this scenario we, commoners, at the moment are a little unaware of the facts that surround Steem but thanks to the detailed report by @noisy, air seems to have cleared now than it was before. Nevertheless, waiting for the reports and seeing the pace of the transactions would let us know which one of the platforms is going to go higher than the others.
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Czyli generalnie warto trzymać STEEM czy nie? Osobiście próbuję zbudować wysoki STEEM POWER i sam już nie wiem czy lepiej zamieniać na SP czy na bitcoiny i czekać aż wzrośnie i wtedy z powrotem na STEEM.
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Nikt ci tego nie powie. Nikt nie wie jak się potoczy kurs Steema i kurs Bitcoina. Jeżeli Steem będzie coraz popularniejszy to prawdopodobnie jego cena będzie rosła.
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Nie zmieniaj na Bitcoiny! Sieć bitcoin ma problemy, za dużo ludzi tego używa, sieć jest zapchana i przeciążona. Za wysłanie gdzieś bitcoinów zapłacisz strasznie wysokie transaction fee i do tego przekaz może utknąć na bardzo długo!
Lepiej zamienić na Litecoiny!
Przesłanie litecoinów na giełdę zajmuje ok 15 minut i transakcja nie utknie.
Litecoiny możesz sprzedać / wymienić na bitbay.net, bitmarket.pl, bitcantor.com
Ja polecam wymienić na zwykłą walutę choć można też na bitcoiny. Policz sobie czy nie wyjdzie dużo taniej przekazywanie bitcoinów.
Ja tam uważam, że kryptowaluty są drogie i jesteśmy ciągle przed solidnym rypnięciem ceny w dół (to co było przed świętami to tylko zapowiedź) A potem długim powolnym spadkiem w dół. Jak bitcoin zejdzie w okolice 1000 ~ 2000$ i generalnie ludzie będą żałować, że w niego inwestowali to wtedy będzie czas kupowania, bo to będzie zapowiedź wzrostu.
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a nie mówiłem?
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These are some amazing stats! I love how we beat the highest transaction record by a huge margin after ETH did more than Steem one day.
The issue with the nodes is very interesting, and not something I know a lot about, so thanks for providing this video to us :)
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Witam, to co z tym "wywiadem"? nie wiem czy nie dostałem od Ciebie maila czy nie napisałeś, szukałem pod tytułem noisy oraz steem.
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This is a great argument against Bcash - transactions and speed dont matter that much.
What matter is the network itself. How big is it, how safe and how many users does it have and how versitile it is.
Steem is a very narrow use case. Thats why the market cap doesnt show it. We shall see what SMTs and EOS will bring.
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Will SMTs be implemented on STEEM or EOS or both?
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on Steem.
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After this high speed to the top for stemm , we all expect to have a dozen of transactions . This time people in the community are excited about the fact.
The other coins are just colateral damage .
Keep on steeming .
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Thanks for the info and video, will watch that later today! :)
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This is interesting, thanks for sharing. I am not a technical person so I can't comment on that aspect of steem but I will say that the recent price action suggests that the crypto space is shifting significant allocations into it. The daily trading volume was about $6M USD these past few weeks and then it skyrocketed to over $100M over the past 48 hours: https://coinmarketcap.com/currencies/steem/
My thinking is that this sudden surge of interest to buy steem was prompted by two things: primarily, Dan Larimer's 12/31 post calling for improved governance; secondly, the forthcoming launch of SMTs. No one knows to what extent each played a role in the sudden buying spree, but the timing of Dan's post can't be dismissed. Perhaps Dan and Ned can resolve their differences in the interest of advancing the blockchain's continued development.
In that regard, I would like to see more emphasis from Steemit Inc being drawn to the fact that the steem blockchain is currently operating at 0.11% capacity and has plenty of room to grow, as your post suggests. This may encourage further integration on exchanges to facilitate expanded access to buying and selling it. Liquidity drives markets and if steem can maintain that, the crypto community will take notice. Only then will the full extent of the network's capacity for utilization truly be realized.
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NICE POST! I THINK STEEM GOES WELL!RELAX!
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A good use of spare time!
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Thanks for sharing this mate. The actual usage comparisons between STEEM and the big 2 is pretty crazy!
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你的帖子非常好，我喜歡。我分享你的帖子
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Good good post you fren
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Do you know the requirements for Eos, or will it face the same problems within a few years? I'm surprised more exchanges haven't taken on steem 32g ram is not much when they profit millions per day
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Upvoted and followed this great blog! Still hesitating about STEEM stability, but nontheless than of btc or other coins :)
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Can I have more information on how to support Steem Nodes?
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