The Steem Blockchain Continues to Evolve

If you're following the Steemit Blog then you probably read their recent post about Steem 19.10 being officially released. This update is not a fork of the blockchain, therefore witnesses will not be required to immediately update to this version. Although it is being tested by several of our witnesses, I've decided to do like many others and hold off on the update while we wait to see its stability.

There are some very exciting updates that come with this release. Most are technical in nature which would bore the average Steemit blogger, but are really exciting for developers and witnesses. For instance, the code has been updated to improve performance and help us to scale much easier with auto-scaling of shared memory file size. We will now be able to replay (sync) the blockchain much faster during updates, patches, and hard forks. The Steem Dev team has also updated the account history plugin to use RocksDB which is a fast-on-disk data store with an advanced caching layer, which will greatly improve the efficiency of the Steem blockchain as a whole.

Learn More About the Release Here

Unlimited Editing of Posts

Here's where it gets exciting for the average user. For the longest time I've wished that I could update posts after 7 days. For example, for the Upvote Bot that I run I have a Terms of Service which is written in a Steemit blog post. But the TOS changes over time. Therefore, it would be nice to be able to update the same post without writing a whole new post and having to change the links in different places.

Also, I know I'm not the only one who makes mistakes. I can't tell you the amount of times I've made some simple, stupid mistake or typo but didn't find out about it until the 8th day my post was published. Wouldn't it be nice to be able to fix those posts considering people can see them after 7 days? Well now you can!

Next Step, Earning After 7 Days!?

It didn't take long after the recent release was published that people started asking "When will we be able to EARN after 7 days?" I think this really is something we should strive for as I know many people on other platforms would come over to Steemit if that were the case. On every other major site, ad revenue doesn't stop after a week. And I know we're not using ads, but we too should be able to earn revenue after 7 days. I've personally heard from content creators who spend upwards of 2 weeks to a month creating videos. So why would they ever create exclusive content for the Steem blockchain if their earning potential is limited? They wouldn't, they would just continue to use YouTube where those that find their video after a week.. or a year.. can still support their work.

My thoughts are that unlimited earning potential could possibly come to the blockchain in the future. I imagine it would be a logistical nightmare to accomplish and would require consensus from the witnesses to push it through, but it could happen. Getting the witnesses to agree on it would likely be easy; I'm not sure I know anybody who would be against it. But how exactly would it work?..

Would we create two different rewards pools (one for the first week and one for ongoing payouts)? Would there be a rewards curve that makes posts after 7 days earn much less per upvote? Would ongoing payouts still be every 7 days? And what about spam? Would this make it a lot harder to combat spam, plagiarism, and abuse? As you can see, it's not really a simple thing to solve and is why we probably have the 7-day payouts currently. Perhaps an SMT for future payouts would be possible that pays in an entirely different currency on the blockchain? I really don't know.

But I'm happy with the progress Steem is making in 2018 and the constant communication of updates we're receiving. It's a far cry from what we saw at the end of 2017 and beginning of 2018. To say that the Steem blockchain dev team is on their game is a complete understatement. I'm looking forward to the release of Hardfork 20 which will bring many more features including Resource Credits (RCs), Curation Updates, The Removal of 20 Second Comment Limits, and Much More. I've also heard that HiveMinds is currently being tested which would be incredible to see that come with the launch of HF20!! We'll just have to wait and see. 😎

Please Support My Witness

I hope that you've enjoyed my blog. I would appreciate it if you voted Hive account@brandonfrye for witness. And if you have any questions at all, please feel free to leave them below in the comments or reach out to me directly on steem.chat. Thank You!!

Steem 19.10 Brings Unlimited Content Editing and More!

The Steem Blockchain Continues to Evolve

Unlimited Editing of Posts

Next Step, Earning After 7 Days!?

Please Support My Witness

Recent Posts