December is turning out to be the craziest crypto month I ever lived through.
Crypto has exploded across the board and STEEM went briefly through $4 last night.
Funny fact: $4 is actually the price I bought my first STEEM for 18 months ago.
Now I feel like the Steem blockchain is finding itself in the perfect storm.
While some major cryptos are suffering at the moment from severe scaling problems and insane fees STEEM is perfectly fine.
It's doing the most transactions of all the blockchains and it doesn't break a sweat. It's under 0.36% strain.
Ethereum and Bitcoin are at 100% strain right now. And Bitcoin at the moment has a $40-$50 fee per transaction!
Again, STEEM has no fees. All transactions are for free and fast! (3 seconds).
In the beginning of 2018 SMT's will come out.
Anyone will be able to create a token (Smart media token) on the Steem blockchain for cheap (1$).
I can see tons of use cases for this. Implemented in apps, communities and different front ends.
Why would you build your own blockchain if you can use the best? for basically free?
Only when your app/community or frontend gains in popularity and your SMT is using more bandwidth on the STEEM blockchain will you need to own more STEEMPOWER to 'pay' for this bandwidth.
This is where I think the real value of STEEM will be revealed.
I am a witness with our developer group @blockbrothers for the Steem blockchain. If you want to support us I would appreciate your vote here.
We build Steemify a notification app for your Steemit account for iOS.
Get it Here:
▶️ DTube
▶️ IPFS