Blockchain-based Knowledge Sharing Platform
Steem is big boss
nowadays , on internet there are many social media sites which is getting more popular day by day but none of them provide extra attention towards users who creates valueable contents for them . they get nothing as earning after spending their time and energy but everything seems to be changed once steem blockchain came to exist.
Blockchain protocols is susceptible to attacks that take advantage of its immutability, automation, and pseudonymity, as well as any centralized vulnerabilities brought on by exchanges or smart contracts. Many solutions have been developed to address well-known problems associated with manipulation and theft in current applications of the blockchain.
okay so finding the answer for this, lets move forward and know about steem in short.
steem is blockchain based cryptocurrency (digital/virtual currency)which built on blockchain technology .it is created only to full filled the need of social media by monetizing the contents.
Most blockchain applications, including Bitcoin, depend on a mechanism called “proof of work”. PoW means that the system rewards the user proportionately to his or her contribution of computing capacity. Similarly, a user’s voting power in the event of a hard fork is determined this way.
There is an alternative to this method called “proof of stake” whereby the voting power of a user is dependent on a combination of the memory the user is contributing to the system as well as the portion of blocks they currently control. Both protocols have a variety of issues and PoS has yet to be shown as viable by itself and some researchers suggest it is a mathematical impossibility whilst maintaining trust. New research emerging suggests the combination of both mechanisms might be feasible.
“Proof of Activity” is one such combination. In Proof of activity, the mining process is conventional to the PoW scheme except it only rewards the miner a portion of the successfully mined block. The remaining value is distributed amongst no more than N-1 pseudorandom stakeholders. The winning stakeholders are picked probabilistically proportional to their stake in the blockchain. “Proof of Membership” is another hybrid solution. In PoM, a user’s voting power is a product of his computational contribution and his stake in the blockchain.
To prevent those with early wealth from dominating all future decisions, the PoS influence of old blocks is eliminated with each new block, forcing early adopters to continue contributing to remain relevant. Whether or not a block can be considered “old” is based on how many blocks have been mined since its commitment. The optimal number of blocks in this window of membership is unknown
I mean to say, you will be paid certain amount of steem or steem dollar if you will post your contents by using any steem based platform like steemit.com , dtube, dmania, dlive, utopia,busy.org,steepshot,esteem,zapl etc.
As per the organization’s description on GitHub, EOS’ software introduces a new type of blockchain architecture, which is designed to allow the vertical and horizontal scaling of decentralized applications (Dapps). [4] [5] EOS achieves this by creating a construct that is very similar to an operating system that allows applications to be built upon the construct. EOS’ software provides accounts, authentication, databases, asynchronous communication along with scheduling of applications across a large number, usually a hundreds, of Central Processing Unit (CPU) cores or clusters. The resulting technology is a blockchain architecture that the organization claims that can scale to “millions of transactions” per second, eliminating user fees along with allowing for a quick and easy deployment of decentralized applications.
Block.one argued that there are certain requirements for a platform to host blockchain applications and to facilitate the widespread use of the decentralized applications. According to block.one, the first requirement for a platform is to be able to support millions of users. The organization argues that for disrupting businesses to implement blockchain technology on the platform, such as eBay, Uber, Airbnb and Facebook, handling tens of millions of active daily users, the platform has to have capabilities to handle millions of users.
Secondly, application developers need the flexibility to offer users free services, thus, users should not have to pay in order to use the platform or benefit from the services offered by the platform. This is important since a blockchain platform that is free to use for users will likely gain more widespread adoption, the organization explains. There are effective monetization strategies that allow the free use of the platform.
To put an asset on a blockchain registry, a tokenization process digitizes a record of the asset . Any type of asset can be associated with a token, including property, precious metals, and other investment vehicles . Additionally, for a blockchain registry to work, the registry itself needs public association with a certain blockchain address (or set of addresses) from which it publishes transactions . These transactions record the data on the blockchain .
Blockchain registry systems are not necessarily “all-or-nothing,” in that aspects of blockchain technology can be chosen without requiring all components of a traditional blockchain. Blockchain registries can allow for sale of both partial and full rights .
Blockchain registry data can be either private or public
Thirdly, the blockchain platform has to provide easy upgrade and bug recovery services as businesses building blockchain-based applications need the flexibility to enhance their application with new features. Developers can fix bugs in a shorter timeframe if the blockchain platform is robust enough, the organization explains.
Low latency is also a requirement for the platform as good user experience demands reliable feedback with a delay of no more than a few seconds. If there are longer delays on the blockchain platform, it will frustrate users along with making the applications built on a blockchain less competitive compared to existing non-blockchain alternatives.
Finally, both parallel and sequential performance are required for the blockchain platform as there are some applications can’t be implemented with parallel algorithms due to sequentially dependant steps. On the other hand, large-scale applications need to divide workload across multiple CPUs and computers.
facebook is centralized sites which paying structure for users is nothing interesting as what steem does.
steem is decentralized system where anybody can earn with some little effort.
for more proof , i will put my steemit sites detail here so you will understand easily.
life-aceh is my steemit sites where i am earning more better than other social media sites with just less effort.
let me explain in short why steem is going to rule the world in coming days ...
1. transaction time is only 3 seconds. its faster than bitcoin , ethereum and litecoin
2. it works on proof of brain i mean if your contents are relevent and knowledge base then easily you will become high earning user.
3. there are many platform got developed to reach your social media needs.
4. steem got launched in 2016 and in just 2 years ,it hits the ranking below 1000 in global sites ranking by alexa.com .
5. steem is developing faster and price of 1 steem also getting expensive .
upcoming interesting project :
1.steem blockchain developer is going to launch in mid of 2018 the project called "smart media token" which is going to be huge for the steem users .
smart media token "SMT" is a token which can be used by any website to monetize their users content.
- pay with steem : as we know cryptocurrency is not so popular in terms of spending in real market but steem developer bringing this oppertunity in real .it will be completed in the end of 2018.
- shop online with steem: its very hard to see any cryptocurrency which can provide you such a broad range of usage which steem is doing . you can shop online with steem and steem dollar.
how will you join steem?
you need to sign up through steemit.com sites and after approval of your account ,you are done to use the platform.
steem market:
steem is currently being traded by various crypto exchange like bittrex,upbit,binance ,gopax,hitbtc etc
so overall, steem is the big boss of social media and i am sure in next few years its going to rule the world with its great potentiality . SMT.Steem.io
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