Steemit sets block time record as the fastest Crypto Currency in history by overloaded

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blockchain · @overloaded · Nov 20 '16 (edited)

$30.01

Steemit sets block time record as the fastest Crypto Currency in history

<html>
<p>Since the development of Bitcoin hundreds of new Crypto Currencies &nbsp;have been developed bringing something more innovative as each one is developed. One of the most important factors that has to be taken in account when creating a new crypto currency is the block times which new transactions can be processed at by miners . Once these blocks are added to the chain they cannot be removed or changed by any of the network.&nbsp;</p>
<p><img src="http://www196.lunapic.com/do-not-link-here-use-hosting-instead/147966776325573?939614"/></p>
<h3>What is a block ?&nbsp;</h3>
<p>In simple terms a block is a record of one or more recent transactions that has been passed through a miner. Usually these contains an answer to a very difficult mathematical puzzle which is what gives the uniqueness of each block. New blocks cannot be passed onto the network without the mathematical puzzle being completed with a correct answer this is where the process of mining is essential in order to complete a mathematical puzzle as fast as possible in order for it to be submitted onto the network. &nbsp;Therefore, having a fast block time is essential in order for the block-chain to be passed onto the next transaction and mathematical puzzle. The faster something is the faster it will get the job done, in a business environment time is a very precious "currency" and you don't want to spend 10 minutes or more for a Bitcoin block to be processed onto the network.&nbsp;</p>
<h3>Steemit Sets Block Time Record&nbsp;</h3>
<p>Steemit has left all of the crypto currencies out there behind when it comes to block times. It's like Steemit is a McLaren that can hit 0-60 in 1-3 seconds whereas Bitcoin is a kids bike. Moreover, Steemit can scale much faster and larger than any other crypto currencies out there, their flexibility is much larger. Once Steemit gets Mass Adoption they will be easy to scale and be flexible regardless of the amount of transactions and people that are using the platform.</p>
<h3>Crypto Currencies by block times&nbsp;</h3>
<blockquote>Bitcoin - 10 Minutes block times</blockquote>
<blockquote>Litecoin - 2.5 minutes block times&nbsp;</blockquote>
<blockquote>Ethereum -15 Seconds block times</blockquote>
<blockquote>Ripple - 3-5 Seconds ledger closes&nbsp;</blockquote>
<blockquote>Steem - 1-3 Seconds block times - This can also scale and speed up as more people use the platform ( Essential for a successful platform )&nbsp;</blockquote>
<p>Steemit sets a new record for the lowest block times in crypto currency history. &nbsp;Nothing like this has been developed before and could be called <strong>"Crypto 3.0"</strong> Due to it's high flexibility and innovation that the Steemit platform provides for every day users.&nbsp;</p>
</html>

👍 val-a, hendrikdegrote, pharesim, fuzzyvest, clayop, val-b, satoshifund, fyrstikken, kushed, donkeypong, james212, ihashfury, benjojo, piedpiper, craig-grant, andrarchy, officialfuzzy, vortac, steemship, anwenbaumeister, curie, asmolokalo, cornerstone, robrigo, lovejoy, steemit-life, krnel, randolphrope, originate, will-zewe, sirwinchester, chris4210, thedashguy, streetstyle, michaeldodridge, picokernel, bue, klye, kenny-crane, hanshotfirst, willybobob, sandra, me-tarzan, saramiller, kurtbeil, kendewitt, proctologic, kus-knee, cryptos, oaldamster, noganoo, mrwang, mattclarke, fran2k, krishtopa, technology, winstonwolfe, scaredycatguide, penguinpablo, jaewoocho, smailer, acidsun, toxonaut, richardcrill, and 211 others

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@aufero · Nov 21 '16

I think Bitcoin has a weird niche for a communication tool. A lot of services built around it for document verification and message hiding. It's a beautiful tool,  history in a way can be written in it.

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@l0k1 · Nov 21 '16

Dash also has fast transactions. It is the delegated proof of stake...

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@overloaded · Nov 22 '16

Yeah its pretty cool, something like Steem Power.

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@layra · Aug 15 '18

Excelente!

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@linkback-bot-v0 · Nov 21 '16

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  - [Advanced Steem Metrics Report for 20th November 2016](https://steemit.com/steemit/@ontofractal/advanced-steem-metrics-report-for-20th-november-2016) by @ontofractal




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👎 overloaded

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@officialfuzzy · Nov 20 '16

$0.06

Though i agree with you that steem is amazing, it is important to recogjze that bitshares, too, can do the same things steem can. In fact it is fair to say steem can onlydowhat it does because bitshares made it possible. 
Ethereum at 1 billion dollars is talking about their ability to potentially get to the scalability and speed to bts and steem at the end of 2017. So in short their ideas wont even be TESTED for another year?

Its crazy to me with what these two blockchains(and soon peerplays) can do...

👍 james212, vortac, proctologic, idealist, pnc, mattclarke, overloaded, edb, humanearl, virtualgrowth, stavrosmarou29

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@mranderson · Nov 21 '16

I think the devs of  graphene blockchain are brilliant....spend all your time and money building the best product possible and the people will come...eventually. This is the perfect condition for a long term invested.

Other platforms decided to go the marketing route and bring in high value first then build out the tech...except they are learning it is much harder to make changes with a billion on the line.

There is room for all approaches and it will be the people of the world  benefit from them.

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@overloaded · Nov 20 '16

Bitshares is long dead, they opened that openledger and have such shit volume + a ton of bugs. People getting their bitcoins locked into their accounts and such.

👍 proctologic, tradz
👎 vato

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@xxxprince · Nov 20 '16

$0.29

BitShares user unaffected.  STEEM down 95% in past 4 months, BTS down only 30%  STEEM is a fork of BitShares (the original Graphene Machine).

Facts are fun! Hey! there goes another immutably printed BitShare block! Day after day, month after month after month year after year.  Just like STEEM, because they are on the same team, and will be sidechained together forever soon (according to the dude who invented the coin you are pumping).

👍 fuzzyvest, proctologic, steveouttrim, jasonyoakam

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@pfunk · Nov 21 '16

It sounds to me like Dan might be working on an Ethereum-alike on Graphene/Chainbase too.

👍 virtualgrowth

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@saramiller · Nov 20 '16

AWESOME!! Get it Steemit!!! World domination, here we come!

👍 overloaded

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@overloaded · Nov 21 '16

Haha, We still need a lot of new features implemented for world domination to be possible . Direct messages, voice and video chat. etc...

👍 saramiller

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@saramiller · Nov 21 '16

Agreed! I'd like to see something like Fakebook's live stream as well. Someone was reporting on Standing Rock last night from FB, and we need something like that to share the revolutions.

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@screenname · Nov 21 '16

Re: Steemit sets block time record as the fastest Crypto Currency in history

<p>This post has been ranked within the top 50 most undervalued posts in the second half of Nov 20. We estimate that this post is undervalued by $7.33 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-nov-20---part-ii">The Daily Tribune: Nov 20 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
<p>If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.</p>

👍 overloaded, aunt-deb

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@overloaded · Nov 21 '16

Thanks :) I guess it got more than the estimated value .

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@steemitboard · Jul 24 '17

Congratulations @overloaded! You have received a personal award!

[![](https://steemitimages.com/70x70/http://steemitboard.com/@overloaded/birthday1.png)](http://steemitboard.com/@overloaded) Happy Birthday - 1 Year on Steemit
Click on the badge to view your own Board of Honor on SteemitBoard.

For more information about this award, click [here](https://steemit.com/steemitboard/@steemitboard/steemitboard-update-8-happy-birthday)
> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!

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@steemitboard · Jul 24 '18

Congratulations @overloaded! You have received a personal award!

[![](https://steemitimages.com/70x70/http://steemitboard.com/@overloaded/birthday2.png)](http://steemitboard.com/@overloaded)  2 Years on Steemit
<sub>_Click on the badge to view your Board of Honor._</sub>


> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!

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@steemitboard · Jul 23 '19

Congratulations @overloaded! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@overloaded/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@overloaded) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=overloaded)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!

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@stephenkendal · Nov 20 '16

$0.03

A great blog and thanks for sharing. Upvoted and shared on [Twitter✔](https://twitter.com/StephenPKendal) for my followers to read more about STEEMIT. Now following and looking forward to reading more of your blogs. Stephen
https://twitter.com/StephenPKendal/status/800422990295035905

👍 james212, overloaded

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@overloaded · Nov 20 '16

Thanks for your support and share on Twitter.

👍 stephenkendal

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@stephenkendal · Nov 20 '16

You are very welcome. Stephen.

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@twitterbot · Nov 20 '16

### ![StephenPKendal](https://pbs.twimg.com/profile_images/690216070943215618/NNCtThIk_normal.jpg) **[Stephen P Kendal](https://twitter.com/@StephenPKendal/status/800422990295035905)** tweeted @ 20 Nov 2016 - 19:38 UTC

> [#Steemit](https://twitter.com/search?q=%23Steemit) sets block time record as the fastest Crypto Currency in history..!! [#BLOCKCHAIN](https://twitter.com/search?q=%23BLOCKCHAIN) @Steemit [steemit.com/blockchain/@ov…](https://t.co/vfZ7kQMphP)


###### *Disclaimer: I am just a bot trying to be helpful.*

👍 stephenkendal

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@tradz · Nov 21 '16 (edited)

Truly satisfying and inspiring to hear!  Mar '2014' is when I found out about 

Bitcoin/Crypto Currencies and everyday since, It's been as if I just found 

out about it lol if you catch my drift!  This is my field!  I can talk about 

this stuff allday everyday!  BLOCKCHAIN TECHNOLOGY, Gtta love it! 
I fell in love with STEEM just as I did with Bitcoin when comparing other new 

coins that came along afterwards.  I think it was the fact of hearing about a 

new Social Media Platform underway using BlockChain Tech.  It was and is 

NEW
None of my buddies and family are on to this even though I speak on it every 

single day it seems.  They'll regret soon enough!

👍 tradz

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@overloaded · Nov 22 '16

For sure :)

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@virtualgrowth · Nov 21 '16

Speed in incredible which will allow for much more scale-ability and flexibility.  We shall see what the (near) future has in store for us with our news tools of discovery and exploration (possibilities).
Shared on [twitter](https://twitter.com/Steem_Land/status/800822105885523968)

👍 virtualgrowth

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@twitterbot · Nov 21 '16

### ![Steem_Land](https://pbs.twimg.com/profile_images/796481381366804481/GZiD2MS0_normal.jpg) **[Steemland.com](https://twitter.com/@Steem_Land/status/800822105885523968)** tweeted @ 21 Nov 2016 - 22:04 UTC

> Steemit sets block time record as the fastest Crypto Currency
[steemit.com/blockchain/@ov…](https://t.co/PZtDjg5zR5)
@SteemUps @SteemitPosts @steemit @Beyond_Bitcoin


###### *Disclaimer: I am just a bot trying to be helpful.*

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