Steemit Great App? They Drew 1 Million Bitcoin Users In Year
The growing rate of the Steem is on a fast pace a quick fix to scale the issue faced by the Bitcoin community. Steemit is a decentralized social media platform, in which the posters and voters are rewarded online and the digital currency behind it is Steem.
One of the hot button issues in the community is to scale the bitcoin. Under this process, the block size from its current form is increased, in which up to seven transactions in a second are supported by the network to process such as PayPal have the ability to process around 100 transactions in a second whereas the Visa have about 4,000 per second.
About 260 accounts compromised, when the Steemit was hacked recently. There was claims that the hack was organized by the Steemit itself and David Wachsman responded to these claims by saying them false.
Overtaking of the DAO
The Steemit being called as the path having the power to attract the people having no interest in the cryptocurrency in their world, the DAO was brought by the Steem to be the fifth most valuable cryptocurrency after the growth of 1000% in the days following the first cyptocurrency payout of the Steemit on 4 July.
The number of posts, votes, new users and transactions tripled after the gateway of $ 1.3 million. The Steemit is on the way to become one of the fastest growing and largest cryptocurrency projects across the world. In the upcoming year, the Steem is sure to reach millions of people and it could even choke the capacity of the Bitcoin.
According to the writer, the Bitcoin companies and their products have done nothing for users outside the one who know about the Bitcoin. He further states that the Steemit will acquire more than one million active on-board users in the upcoming year.