The Rob’s repair application is going to be built on the STEEM blockchain. The question is, is STEEM blockchain important? If yes, how is it important? In this article, we are going to answer this question and explain how STEEM blockchain is important for this particular purpose.
The importance of STEEM blockchain
Most transactions
The STEEM blockchain is very important as it holds the record of in processing most amounts of transactions per day. It can be used to process more than Ethereum or bitcoin or any other blockchain.
No transaction fees
This blockchain is not only able to process the most transactions but also enable people to transact with no fees. This is done by design. Other types of blockchains such as Ethereum and Bitcoin charges a fee when one interacts with the blockchain. This makes it hard for end users to start using decentralized apps created on those blockchains. The STEEM blockchain helps to solve the problem and doesn’t charge any fee.
Successful hard forks
For three years, bitcoin has been struggling to update its protocol. Hard forks have revealed to be divisive. Ethereum also experienced this when the Ethereum classic was launched and it claimed to be the original chain. The STEEM blockchain has already 19th successful hard forks and it only has one year of existence. This is quite impressive. The STEEM blockchain has proved that hard fork can be achieved in a reasonable amount of time as long as there is a decision-making process integrated into the platform.
Two ways to measure its importance
The STEEM blockchain has two different ways to measure the importance of a certain user network. The first way is the STEEM power and the second way is the reputation score. The STEEM power can be bough to give you more voting power while the reputation score cannot be purchased. The only way you can achieve a higher reputation is by adding unique content actively.
There is a huge opportunity for the programmers. A lot of accounts on STEEMIT having a high reputation are developers who add value to the platform.
Delegated proof of stake
Currently, Ethereum and Bitcoin are currently operating on a proof of work protocol. There are plans in progress for Ethereum on moving to a proof of stake type of protocol in less than a year. STEEM blockchain, on the other hand, is already working on a proof of stake protocol. It is named Delegated Proof of Stake. This type of protocol is more democratic than the Proof of Work and it also doesn’t waste huge amounts of electricity on securing its blockchain
Rob’s Repairs are going to build their application on STEEM blockchain and this means that there are a lot of good things in store for users as they are going to benefit from all the importance mentioned here. Actual financial transactions are going to be linked to reviews and this will restore trust in the review process.
Website: http://bobsrepair.com/
Whitepaper link: https://bobsrepair.com/docs/White-Paper.pdf
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1434339