Steemit Crypto Academy Contest /S1W1 -Favourite Blockchain Network by @estyroberts
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Greetings everyone and welcome to the steemit engagement challenge week 1 in the steemit crypto academy where we have been asked to talk about our favorite blockchain technology. Before I continue on to my favorite blockchain I would like to explain a few terms
Blockchain- in simple terms is an online ledger that records transactions and distributes it across computers making it difficult to change or hack.
My Favorite Blockchain and its history.
My all time favorite blockchain is the steem blockchain.
The steem blockchain was created by Dan Larimer in the year 2014 designed to build decentralized social media platforms. The first dApp (decentralized application) steemit was introduced by both Ned Scott and Dan Larimer in March 24 2016 to run on the steem blockchain, the steemit dApp is a blogging center where users can create content and interact with others of similar interest through communities. The steemit platform has been managed by both Ned and Dan until 2017 when Dan Larimer left.
The steem blockchain is decentralized and built as a social media blockchain, it is one of its kind that rewards users for making and creating unique and non-plagiarized contents. The steem blockchain makes use of proof of brain (PoB) as it’s consensus mechanism that rewards a creators content based on its originality.
Why the steem blockchain is my favorite?
The steem blockchain was the first one I had any interactions with through one of its dApps steemit. The idea of being able to create content in form of writing and sharing with other users as well as getting a wide range of unlimited information from other users. Also the fact that the platform rewards original and unplagiarized creation of content as well as curation thereby boosting the morale of creators.
Shortcomings and how the network team has taking care of the problem?
Yes, as at the early time of introduction the steemit blockchain experienced a hack which compromised about 260 accounts worth around $85,000. The hack was as a result of stolen credentials.
To fix this issue, the team introduced the multiple factor identification where different keys have different usage (-the owner key, private posting key, active key etc). This action helps reduce the chances of stolen credentials and funds.
Reference source
Changes i think will make the network better?
There are exchanges where the tokens generated from the steem blockchain can be exchanged currently. But it would be better if there is a direct means to do this from the steem blockchain itself. This would make things much easier.
A project that is built on my favorite blockchain.
Steemit blog is the first dApp built on the steem blockchain, it is a social media platform that rewards its users with cryptocurrencies for creating written original and unique content and also curating contents. It allows users to interact and engage in contents of preference via the different communities available for content making of various kinds.
Users are rewarded with the native currency Steem and SBD, TRX for their content. The steemit DApp is easy to use.
Conclusion
This is where my participation in the contest ends, I have discussed my favorite blockchain.
I invite @samuel20, @armstrongdiho and @ijelady to participate in the contest.
Steem to the world!
You have tends to understand the steem blockchain so well.
Here are tips to help you participate well in the academy
Do try as much as possible to make your content neat and well arranged, most contents in the academy are professional and you should always try as much as possible to avoid ambiguous words.
You do not need to over-commit, just be original as much as you can, and try to do little research as well before publishing, I hope this helps.
More luck next time.
Thank you for taking time out to encourage and lend me these tips, I would be sure to do better.
The steemit dApp is amazing and has so many features. You have indeed expanded my knowledge.
Good luck!
I am glad I could educate you more sister. Thanks for reading.
Greetings, very good choice of your Blockchain Steem network.
Thank you.
Thank you for such a wonderful time to make this review, you have said alot about your favorite blockchain and you have given enough reasons for that, keep on the hard work to see how the blockchain will become better to become everyone's favorite.
Thank you for reading and engaging .
Nice and straightforward post. No doubt steemit is a wonderful blockchain
Yes. Thanks for reading and engaging.
As I found this topic a very difficult one to write about I had to read and learn a lot over the last week.
What I found amazing is that with each post I read about Steemit it is like building a big puzzle and your post added to it.
Thank you!
Indeed steemit in my opinion is the best, I would have loved to participate but you have said it all with jara on top @estyroberts keeping posting good contents.
Steemit blockchain is also my favorite blockchain, before I came to know steemit i have not see any app that is like steemit and from my own research after joining steemit, i realized that steemit is number one, i appreciate your efforts @estyroberts
Hi estyroberts……….
Great write up u have here😍😍😍