Steem announced last night that he had just registered his millionth account holder.
Steem announced last night that he had just registered his millionth account holder. According to Steem, the number and rate of new accounts is increasing day by day, although he is even more proud of the amount of activity that exists in his blockchain.
Each day, Steem's blockchain has more than one million transactions, which means "more transactions per day than all the other blockchains combined". Steemit.com, the blog and social media platform that runs on Steem blockchain, has more than a quarter of a million visitors each day.
Steem beating Ethereum
Steem believes that the number of accounts is a decent proxy for the number of users. As a "social blockchain based on participation", users "generally use this unique account to communicate with other users and to accumulate Steem Power". This contrasts with other chains such as Ethereum, where users often use new addresses for each transaction. There are many more addresses used in Ethereum than Steem, but when it comes to activity, Steem believes it has the advantage.
Steem points out that the most popular application of Ethereum remains Cryptokitties, which had a daily activity of 2,777 events on May 16. This compares to more than 9,000 transactions for eSteem, a mobile application running on Steem.
However, as some commentators pointed out, 60,000 daily users of Steemit's 1 million accounts mean that 99.94% of account holders do not interact with the platform every day. Instead of focusing on increasing the number of accounts, some believe that Steemit should be working to incentivize existing account holders to be more active. One user, surfermarly, said that she thought that the priority should be "to make sure that the largest possible percentage of those we already have become active users" and that social interaction is "more intuitive" and "attractive". through better oriented rewards.