Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network by @username.
Hello (Hola) fellow steemians. Hopefully all of you will be fine and in a great stage of your life. Today I am here to participate in steemit Engagement Challenge for the week-1 of this community Steemit Crypto Academy, which is titled as "My favorite blockchain Network".
So I will be writing on this topic today and I hope my publication will be appreciated. But before start writing on my topic I should Thank Steemit Crypto Academy for all the valuable classes and lectures through which we all have learnt so many new things. So a big thank you to the professors and the academy.
My Favorite Blockchain Network:
There are so many blockchain networks but My Favorite blockchain network is steem. Steem is so near to me because this is the first cryptocurrency that I earned and through this I have known so much about crypto world. When I first came to know about this platform where I can earn steems through my content creation, I was so amazed and since then I am makiny contribution somehow.
About Steemit Blockchain Network:
Like usual social media networks, steem blockchain network is a platform which allows us to interact with different people from around the globe and learn some new things and share ideas and contents with eachother. But the difference between Steem and other usual social media networks is that, it is decentralised Network which works differently because it provides monetary benefits to its content creators for the quality work they provide to the network and obviously the work shall be original.
The working method of steem is quite nice and easy. If someone create a content then other give it a worth through their votes and curators also appreciate the good work by providing a valuable upvotes. This make steem a network where only your quality work is appreciated.
Short History of Steem blockchain network:
The steem blockchain network like many others in the beginning had a genesis block that was issued originally at 23 March, 2016, which was later published and launched on the official website (steem.com )of the steem blockchain network.
The growth of the blockchain was a verge of highness when in july, 2016, when the first reward of the blockchain was awarded to steem, and due to this reward the steem was allowed to be converted into cryptocurrency. The blockchain of steem is growing fastly as it is widely used in world and still growing.
The reason why steem is my favorite blockchain Network:
There are so many reasons to love steem as a blockchain network but for me personally, it is the start of my crypto knowledge and only steem has given me required information about so many difererent informations about various crypto related topics which are all present in this community.
Let me show some Pros and Cons of the Steem blockchain network:
Steem will be providing you some monetary rewards for your valuable contents created on this platform and shared in the right community.
On this platform, you will not be rewarded for other than original contens. Which means plagiarism is higgly prohibited here.
like any other social media platform, steem also appreciate social interaction through our contents and appreciation of eachother by providing a feedback.
with all the best offers, steem is one of the platform which encourage us provide more and more content here.
Steemit Blockchain Network is growing rapidly and will be one of the best blockchain network soon.
Does the network have any initial deficiencies and how did the network team deal with the problem?
Initial deficiencies:
The Initial deficincy to steem was found in its early stages at 2016, when steem faced a hack, whxch effected almosy 250+ users at that time by losing a huge amount of steems which is roughly said is $85000.
how the team dealt with the problem:
After the very unfortunate problem of hacking in the year 2016, in 2017 the team employed some developers, who works hard to prevent steem from any other attack from the hackers. For this job almost 18+ persons are hired.
What changes do you think would improve the network?
I would not recommend anh changes on the internal side but yes I would like to make sure that steem do as much advertising as much can. Because other blockchain network to so much advertising of their blockchain for people to get to know about them and then use them, so Steem will also get grow easily if proper advertising campaigns shall take place.
Write about a Project that is built on your favorite Blockchain?
Steemit was the first project built on Steem blockchain network. Steemit is a social blockchain network which allows social interaction with so many people around the globe and also provides an incentives in return to the users who work there or share their quality contents. And the reward is in cryptocurrency, so if you have noy stated working here, do not waste any more time and grab the opportunity.
The steemit works as the content creator or author create some content and share it on steemit platform where all the people can see and give their valuable upvotes on it, which can be explained later. The social interaction increase the network of the blockchain and so the authors are rewarded for their work.
There are three different currency used around steemiy. Which are:
- SP ( Steem Power)
- Steem which is rewarded to and can be converted into other crypto world.
- SBD which means the steem dollars, which are so convertible to any other crypto currency.
conclusion:
Conclusion is very easy that, if one is using any sort of social media, he/she shall convert themselves to Steemit for a very far better social platform style, where you are rewarded for your time and quality of your work. For me this is very special because of my first earning here on this platform. I was also able to learn a lot of things here on steemit, which I never heard about.
Thank your!
Regards:
@Faizanwrites07
Great post