Steemit has made significant strides in improving its technical infrastructure to enhance performance, scalability, and security. Here are some more technical details:
Blockchain Optimization:
Delegated Proof of Stake (DPOS): Steemit utilizes a DPOS consensus mechanism, which allows for faster transaction times and lower energy consumption compared to traditional proof-of-work systems.
Witness System: The witness system ensures the integrity of the blockchain by validating transactions and producing blocks.
Witness Rotation: To prevent centralization, witnesses are rotated regularly, ensuring a decentralized and fair system.
Security Enhancements:
Multi-Factor Authentication (MFA): Steemit has implemented MFA to provide an extra layer of security for user accounts.
Key Recovery: Users can create backup keys to recover their accounts in case of lost or compromised access.
Regular Security Audits: Steemit conducts regular security audits to identify and address potential vulnerabilities.
Scalability Improvements:
Sharding: Steemit has explored sharding as a potential solution to improve scalability and reduce transaction latency.
Parallel Processing: By utilizing parallel processing techniques, Steemit can handle a higher volume of transactions.
Technical Challenges and Future Directions:
Scalability Limitations: As Steemit continues to grow, it may encounter scalability challenges, particularly during periods of high activity.
User Experience: Balancing technical improvements with a user-friendly experience can be a challenge.
Competition: Steemit faces competition from other blockchain-based social media platforms, such as Hive and LBRY.