Chief's Open-Source Overviews

STEEM is being recognized more and more as a dominant player in the cryptospace. Every day brings more news coverage, more awareness, and more projects being developed with the STEEM blockchain.

It is only a matter of time until the mainstream becomes aware of STEEM's benefits and advantages and the price skyrockets.

Please feel free to use this post to help you answer questions from your friends and family about STEEM so that we can all help spread the amazing message of STEEM.

This guide will explain six major reasons to pick STEEM out of all these cryptocurrencies.

The cryptocurrencies with capacity will prevail.

STEEM as you can see below handled the most transactions in a 24 hr time period with over 1.3 million transactions with this only being 0.11% (yes not even a percent) of their blockchain capability.

Compare that to Ethereum who may process those 1.1 million transactions but guess what? That is at 100% of it's capabilities resulting in over 33,000+ unconfirmed transactions. So you are telling me Ethereum is already maxing out and causing backlogs and STEEM is handling over a million transactions per day while using less than 1% of their capacity.

One of the main components of scalability is the ability to handle a lot of transactions.

STEEM, built upon the Graphene chain (also created by @dan), has proven it already handling more than 1,000,000 transactions per day without any network backlog caused by capacity issues.

Why would you invest in a blockchain that doesn't have the capacity to handle transactions?

And ever more so why would you invest in a blockchain that is slowwwwwwwwwwwwwwwwwwwwww.

STEEM has near instant transfers.

3 second block confirmation times is incredibly fast.

Screen-Shot-2016-05-13-at-1.56.18-PM.png

And with the instant gratification and raised expectations from us humans you really think people, businesses, and governments are going to wait minutes by using Bitcoin, Ethereum, and other cryptos.

Time is money for many individuals, businesses, and governments. So they will looking for the quickest cryptos to transfer money to and from.

Can you imagine walking into a store and paying with Bitcoin and having to wait their 15-45 minutes in the store just for your transaction to be confirmed?

Nope I can't either. I envision walking into a store, pay with STEEM, the merchant confirms the transactions within 3 seconds, and then you are on you way.

Some might put up with the slow transfer speeds of now but as the mainstream adoption grows and more people use crypto for instant money transfers they will flood to STEEM because of how quick its transfers are.

And how low the fees are.

Wait what?!

In this world of being nickeled to dimed to death by banks, credit cards, and now with cryptos can we please have a way to transfer funds without fees.

STEEM has no fees to transfer funds via the STEEM blockchain. Let me say that again NO FEES TO TRANSFER FUNDS.

So why are individuals, businesses, and governments paying sometimes $7-$10 in transactions fees to send Bitcoin?

They don't know about STEEM and you can see the market cap of STEEM reflect that.

Once individuals, businesses, and governements realize they can send funds with STEEM with no fees they will be a rush to STEEM as the crypto for fund transfers such as Bitcoin is now.

Social media + cryptocurrency + blockchain = recipe for long-term success

The fact that STEEM has an incredible social media movement behind it is one of the strongest reasons why STEEM will be a player in the long-term marketplace.

Empowering souls through their interaction and time spent on Steemit only brings more and more awareness to the STEEM blockchain.

Steemit has basically created thousands of free marketers and influencers for the STEEM blockchain. As a result, there is consistently a wave of brand ambassadors always spreading the STEEM blockchain all over the world. What a way to market a blockchain.

Not only is it a social media site, it brings souls from all over the cryptocurrency space into a space where their ideas, projects , and passions can be discussed and analyzed.

Steemit is rapidly becoming the go to place for awesome analysis and information you can't find elsewhere. It's because the leaders, influencers, and creators of these crypocurrency movements are here. They share their ideas and visions of the future.

As a result, they become familiar with the STEEM blockchain when they come to Steemit. They realize the potential of it and now they have a better chance of implementing this awesome tech in their projects because they are now are aware of it because of Steemit.

With SMTs, STEEM's blockchain will be used to monetize the internet.

Smart Media Tokens is one of the newest ways to harness the power of the STEEM blockchain.

With SMT's, other website such as Yahoo.com and Medium.com can tokenize their experience similar to how Steemit uses tokens. These tokens use the STEEM blockchain as the backbone thus increasing the demand and reach of STEEM.

Again STEEM has created a way to market their blockchain for free through these other popular sites bringing awareness of tokens run on the STEEM blockchain to the masses.

More websites using the STEEM blockchain and more individuals aware of STEEM will only drive more investment, more demand, and new creative ways to harness the STEEM blockchain and/or cryptocurrency.

Ability to use technology freely allows for possibility of extreme growth of that technology

All this amazing technology with the STEEM blockchain could be private and closed but lucky for humanity it's not. @dan paid to make sure STEEM remains open-source technology that anyone can harness and build on top of.

You have Steemit.com, Utopian.io, and Busy.org among other sites that use the STEEM blockchain as the backbone of their models.

And anyone can build their own business, project, community among other things on top of the incredible technology of STEEM blockchain.

What better way to make sure an epic technology grows than allow anyone to use that technology in their life to progress their business, project, and/or community among other things.

Let's recap these major six benefits and advantages again.

STEEM has:

capacity,
speed,
no fees,
Steemit,
SMT's, and
is open-source.

Seems like a blockchain set up for short-term and long-term growth and success to me.

This concludes Chief's Open-Source Overview of the open-source STEEM blockchain.

Hope this brings value to you and hope this helps you make the best decision for yourself, your family & friends, and your livelihood.

Thank you as always for your time and attention. Means a lot to me.

Sources:

http://blocktivity.info/

Image Sources:

Namaste

@chiefmappster

Posted on Utopian.io - Rewarding Open Source Contributors

Chief's Open-Source Overviews | STEEM Blockchain