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Do you know that Steemit uses one of the fastest Blockchains? by hmushtaq

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· @hmushtaq · (edited)
$11.79
Do you know that Steemit uses one of the fastest Blockchains?
[Steemit](steemit.com) runs over the [Graphene](http://docs.bitshares.org/) blockchain, which is among the world's fastest blockchains. Rather than using the [Proof of work](https://en.wikipedia.org/wiki/Proof-of-work_system) system, it uses the  [Delegated proof of stake](https://bitshares.org/technology/delegated-proof-of-stake-consensus/) consensus.

The graphene blockchain is not only used in Steemit, but also in [Bitshares](https://bitshares.org/) and [EOS](https://eos.io/), and was created by one of Steemit's cofounders, [Daniel Larimer](https://www.linkedin.com/in/daniel-larimer-0a367089/).

The difference between **Proof of work** and **Proof of stake** can be understood from the following diagram.

https://blockgeeks-assets.scdn7.secure.raxcdn.com/wp-content/uploads/2017/03/infographics2017-01.png
[image source](https://blockgeeks-assets.scdn7.secure.raxcdn.com/wp-content/uploads/2017/03/infographics2017-01.png)

Now in **Delegated Proof of Stake**, the creators of new blocks are basically selected by the community. For example, those creators are called Witnesses here on steemit, whom you can vote by going [here](https://steemit.com/~witnesses). According to [[1]](https://bitshares.org/technology/delegated-proof-of-stake-consensus/), such deterministic selection of block creators allows the transactions to be confirmed in just one second on average. Compare this with bitcoin transactions, where block creation time could be as much as 10 minutes!

Another benefit of **Delegated Proof of Stake** is that unlike **Proof of work** systems where big mining rig owners rule the roost, the stakeholders are elected by the community through voting. And a stakeholder who is behaving badly, can simply be removed by them. Not only that, but things like fee schedules can also be voted for by the community.

___

I hope you enjoyed reading this article and that it helped improve your knowledge about blockchain systems.

**References**
[1].https://bitshares.org/technology/delegated-proof-of-stake-consensus/
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 28 others
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@africanpoet ·
$0.08
What are the roles of stakeholders that are elected by the community through voting?
Am new here that's why am asking.
👍  ,
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@hmushtaq ·
$0.20
You can refer to this article, https://steemit.com/steemit-guides/@pfunk/a-full-steemit-user-s-guide-to-steem-witnesses
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@appreciator ·
<p>This post has received gratitude of 0.41 % from @appreciator thanks to: @hmushtaq.</p>
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@hamzayousaf ·
$0.07
Yes there  is  Step-by-Step Guide ...Instead, to guarantee the reliability and consistency of the data and transactions, blockchain adopts the decentralized consensus mechanism....
thanks for giving information dear @hmushtaq
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@hmushtaq ·
@originalworks
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@originalworks ·
originalworks
The @OriginalWorks bot has determined this post by @hmushtaq to be original material and upvoted it! 
<center>![ezgif.com-resize.gif](https://steemitimages.com/DQmaBi37A5oTnQ9NBLH8YU4jpvhhmFauyvgg3YRrEJwskM9/ezgif.com-resize.gif)</center> 

To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
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@irfanullah ·
$0.06
Yes There is a great Step by Step guidelines. East or West Steemit is the best block chain technology. I Love this wonderful platform.
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@morwhale ·
This post received a 2% upvote from @morwhale team thanks to @hmushtaq! For more information, [click here](https://steemit.com/@morwhale)! , [TeamMorocco](https://steemit.com/@teammorocco)! . <br> STEEM Price : 3.188 $
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@sleeplesswhale ·
<p>This post has received a 16.67 % upvote from @sleeplesswhale thanks to: @hmushtaq.</p>
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