STEEM Surpasses Bitcoin!
We’re happy to announce that in the last 24 hours, we’ve surpassed the Granddaddy-of-Cryptocurrencies (Bitcoin obvs) in number of transactions over a 24 hour period!
Fast, Free, and More Transactions
Now, STEEM has been beating Bitcoin at a few things for a while. It takes only 3 seconds to transfer STEEM anywhere in the world while Bitcoin transactions recently averaged 18 hours! That means STEEM can be as much as 2,160,000% FASTER than bitcoin! And unlike Bitcoin, transferring STEEM doesn’t cost anything. There are absolutely no fees. It’s totally free. So it’s ... infinitely cheaper.
Now we’ve got yet another notch in our belt: yesterday 278,464 transactions took place on the Steem Blockchain at a rate of 3.223 transactions per second over the course of 24 hours! That’s 15,091 MORE transactions than Bitcoin with no hiccups! The Steem Blockchain is handling the volume with ease.
For Us, It’s A Big Deal
This milestone validates years of hard work. We built a platform that was designed to do things no other cryptocurrency was capable of, while being able to scale (something our competitors like Ethereum admit they are still struggling with). We wanted to develop a protocol that would enable people to earn rewards for the valuable content they shared with the public, and we did that. We accomplished all of that when we created the Steem Blockchain.
Finally we wanted to develop an application that anyone (not just people who are into cryptocurrencies) can use to share content and receive rewards. And we did that too with Steemit.com. Lately, signups have been accelerating and we have every reason to believe that trend will continue, so surpassing Bitcoin is really only the beginning. One day the number of transactions occurring on the Steem Blockchain will eclipse those on Bitcoin, and maybe then we will look back on this day fondly as the day when everything started to change…
Happy Steeming!
The Steemit Team
when is the press release coming out?
this :)
Precisely! This is a great achievement, but the target audience should be people outside of Steemit. Get the word out there - this story has a great hook. Focus on the currency aspects of Steem.
WoW... I just joined Steemit 4 days ago and this seems like really Great news !!
Thank You for the Heads-up
and I joined 2 days ago. getting ready to plow $5k into it, having decided against plowing $5k into bitcoin when it was at a dollar. can you even imagine?
steem, seriously, has the potential to be a most serious RESOURCE going forward. from now on, my social media posts will be exclusively STEEM. This is totally it.
Its never late to make a fortune. You missed out on bitcoin but here you are getting in on STEEM early enough.
Welcome!
LOL your signature makes it look like you are replying to yourself with an oversized avatar.
Hmm, that is a great point
Try to buy some steem. This price won't last for long.
I bought STEEM back in August, probably at around $2, and it was an excellent investment: the price may have immediately started falling, but the sense of commitment and engagement that having even a small stake gave me has given me immense value in terms of motivation. So that although financially it is now, in the last few weeks, a vindicated purchase that I made, that is not the main point. For me, the main point was purchasing the motivation to keep writing. So: win, win, win.
I bought account for 0.1BTC. Don't ask :).
I even bought at $3. No regrets.
i f ound u again... u bought it at price 3$ before?
I'm just getting into Crypto's, but when I saw Steem, and the price it's currently sitting at, I bought a few immediately. It's a great platform that will shape the way information is shared in the future.
Welcome to Steemit. Enjoy the ride.
i joined a few days ago and still trying to work out how it all works!!
Welcome to Steemit! Definitely join us at https://steemit.chat =)
most welcome..
I´m getting in now. Really new to all blockchain tech but have been reading, wathcing videos, listening to podcasts and doing loads of research for the past 5 weeks. Incredibly exciting tech!! Have started buying and trading a bit as well and it seems very interesting so far! :) Hope to become a good member of this community and learning a lot, but also sharing my experiences and engaging in this. Hope you all will bare with me and answer my noob questions. I´m sure there will be many of them... :)
We all expected this to happen. And we didn't started steem engine even half speed yet.
your right its going to keep going up!
Bitcoin was the first, but they are a dinosaur in terms of the technology at this point. It's only a matter of time before they are overtaken by something better... hopefully Steem ;)
Like @craig-grant said a while ago : analog vs digital.
Yes, another comparison that I like, which I believe Andreas Antonopoulos used, is Web 1.0 versus Web 2.0.
Perhaps Web 3.0 to 2.0 is the more accurate analogy, though :)
This is nothing new if you follow the graphene tech. Bitshares is Steems older brother and achieves blistering fast transactions.
considering i just sent a $10 Bitcoin transaction today and the fee was an astonishing $1.50, the free aspect to transacting, will be huuuuge.
just what I thought. Lately, BTC has really started to sssuck. Constant increases in mempool size, hence need for higher-and-higher fees. It's a pretty big reason for other coins advancing, and rightly so: the idea of COMPETING CURRENCIES (Austrian School of Economics) is just that and will result in ppl moving to other (better as in faster, less expensive, more power-efficient etc) Cryptos and, at the same time, give Altcoins a boost...
You nailed it right there!
I believe you meant to say "yuuuuuge"...if so, I agree :)
Take me with you Steemit. I'm ready!
Is that a tampon your riding? :-)
I think this is where I'm supposed to call you a misogynist pig or something...but that's pretty funny
These are absolutely stellar numbers and are a credit to all working behind the scene developing the system. One word... AWESOME..!! Proud to share this on twitter. Stephen
Thanks Stephen!
You are very welcome. Keep up the good work. Stephen
Dear Stephen, you are a GOOD man who seems kind and honorable - I will proudly to join our efforts!
Wow! A rocket powered Steemit vibrator! Great pic!
haha [:applause_hands:]