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Steemit Update by steemitblog

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· @steemitblog ·
Steemit Update
![Steemit Update.jpg](https://cdn.steemitimages.com/DQmNt3YpK6jcW1PDtKZxgWLDkfvLd3CKjoRnpym9SBymzJ8/Steemit%20Update.jpg)

Hello Steemians,

As an update, one issue we have begun to address is reducing the cost of running Steem nodes. We are happy to report that we have made some progress by already realizing improvements that have enabled us to reduce the number of nodes we are running and the size of the instances. At the same time, we continue to build out a longer term strategy for reducing the size of full nodes and their cost even further.  

Pitchforking Steem was eliminated as a potential option and instead we are focusing on Hivemind and RocksDB. Leveraging these pieces of software is extremely complicated and consists of countless small stages. But progress is going well and we are optimistic about our current roadmap and ability to deliver the necessary improvements.

While we are β€œpicking the low hanging fruit” relating to node size reductions, we continue to evaluate the merits of releasing an SMT-lite protocol as well as any potential opportunities for generating revenue.

We appreciate your continued support and patience, as this has been a challenging time and the work we are doing is highly technical. We understand people have been frustrated by the dearth of communications,  but the team is healthy, energized, and eager to take on the challenges ahead of us. 

_The Steemit Team_
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vote details (153)
@arcange ·
Congratulations @steemitblog!
Your post was mentioned in the [Steem Hit Parade](https://steemit.com/hit-parade/@arcange/daily-hit-parade-20181217) in the following category:

* Comments - Ranked 2 with 155 comments
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@ats-david ·
$0.06
Where’s Ned? I’ve heard some rumors about his physical well-being. I am concerned.
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vote details (4)
@blockchainstudio · (edited)
$0.10
Thank you for your update. What about Ned? Is he okay? Why no update about already postponed livestream from anyone? Steemit, Inc is a company, so someone should update the announcement about it.
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@clumsysilverdad ·
$0.04
I second that complaint
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@elipowell ·
Livestreams aren't top priority right now, focusing on the roadmap and implementation is mission critical.
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@blockchainstudio · (edited)
$0.10
Of course, but no update doesn't make sense. I'm not saying Ned should do livestream. Ned is the CEO of Steemit Inc, a company. Then, someone should update the announcement. That's all I'm saying.

ps. Wow,  seems you're working there (I'm sorry if you're not). If you really think Steemit, Inc doesn't need to update the Ned's announcement, I have to say it's a very wrong idea. Even 5 mins can make a huge difference.
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vote details (3)
@bobinson · (edited)
$1.71
>one issue we have begun to address is reducing the cost of running Steem nodes. We are happy to report that we have made some progress by already realizing improvements that have enabled us to reduce the number of nodes we are running and the size of the instances. At the same time, we continue to build out a longer term strategy for reducing the size of full nodes and their cost even further.

# What this means ?

Just thought of explaining in layman terms about what this is all about. The Steem nodes means various types of Steem API nodes, TESTNET etc which uses a cloud hosting solution from Amazon's AWS. 

Instance = a server running under the virtualized environment. (AWS terminology). Essentially its CPU power, RAM, Hard disk and Interconnection.

Instance Size = This means how much CPU, RAM, Storage a server has. Cost increases as the size.

> focusing on Hivemind and RocksDB

Some of the Full node functionalities are getting moved to Hivemind. 

RocksDB = Almost like an external storage where certain type of data is stored. Technically it is a database. This work is very complicated as code changes are involved. Personally I feel this work will make Steem one of the fastest chains and also increase its use as a general purpose chain.

# State of DApps on Steem blockchain

Further, I also want to plug the state of Dapps - built on Steem blockchain and others.  The number of people who use the applications built on top of the Steem blockchain is higher if not very large even if we compare the entire public blockchain eco-system. This will eventually bring in real value of the STEEM coin and the Steem blockchain.

References:

1. https://steemapps.com/ 
2. In Progress: https://www.stateofthedapps.com/rankings

https://dappradar.com/ Gives a comparison of various blockchains and comparing the users of apps with the number of active users from https://steemapps.com/  will give the real picture of blockchain eco-systems and the "intrinsic value" of various chains.
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@apshamilton ·
$0.11
Great translation into non-super-geek-speak!
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@clumsysilverdad ·
thanks for the effort
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@inventor16 · (edited)
$0.22
Ned noshowing = dearth of communications ?

Thanks for your dumb ass logic Steemit Inc.
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vote details (4)
@jarvie · (edited)
$0.02
Steemit Inc Glossary. 
Seriously @bobinson I say you should come in here and write a comment/post translating their posts! It's awesome and hilarious. 

I mean I'm just glad they communicated...  baby steps. 
πŸ‘  ,
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@chekohler ·
So more affordable and a better performing blockchain I can’t really argue with that now can I? 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@clumsysilverdad ·
kind of vague, but at least something
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@taskmaster4450 ·
I would replace "kind of" with "very" for increased accuracy.

They are alive which is a benefit.
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@clumsysilverdad ·
I didn't want to go there, but you are right... VERY vague (-:
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@cyberdemon531 ·
$0.05
> but the team is healthy, energized, and eager to take on the challenges ahead of us.  
  
I hope so.
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@clumsysilverdad ·
there's not much energy around here these days ... hardly anyone is even interested in trolling this lame post
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vote details (2)
@sircork ·
$0.06
Even I had to decide if I wanted to bother to point out this "news" is the same shit from last year in 2017 around this time. But how quickly the gullible and foolish forgive and forget around here. 
πŸ‘  , ,
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vote details (3)
@dmitrydao · (edited)
Nice stuff. There was a big debate with some community members about RocksDB but I'm glad this issue was solved.

I really appreciate the work you are doing for the whole blockchain ecosystem. It's very important that we have fast and scalable infrastructure before SMTs are released and more users started to roll into Steemit and other interfaces (Busy, Partico, Esteem), as well as develop high quality dapps.

Actually that's what really matters at the end - how many people are using your blockchain and how many use cases can you show. Steem is big and will stay big, even though it may take more time to grow than we expected at the first place. Keep up the good work guys, keep up the good work.
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@erodedthoughts ·
$0.02
So where is @ned? 

And where the hell are all of the blog postings from over a year ago?
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vote details (2)
@isnochys ·
$0.23
Will there be a technical post?
Or just this wishy washy one?
As the de facto only developer of steem, you should tell us more complicated things.
πŸ‘  , , ,
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vote details (4)
@bobinson ·
I am not familiar with Hivemind. But RocksDB related work is happening here : https://github.com/steemit/steem/tree/mira

There are frequent updates.
πŸ‘  
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@clumsysilverdad ·
Ya Think !   hellz yea
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@katharsisdrill ·
That is nice...
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@leesunmoo ·
$0.03
If you want to save steam, first shorten the power-down period to seven days.
Lesunmoo (72) in kr β€’ 4 days ago


something difficult
Something you can't do.
Don't try to do it in vain.

Just change a few numbers in the code now.
I think we should change the simple one first.

the first of them

Powerdown 13 Week 13 Division
I think we should change this to 100 percent for 7 days.

After all, the current 13 weeks of power-down were only devices to prevent double-boating, but there are no other functions.
In the early days of 103 power-down states, there was a lifetime income function based on 100% inflation.
Through the 16 hardfork, the 100% inflation changed to less than 10% inflation.

In the current 13 weeks of power-down, the life-long income function has suddenly disappeared.

The current power-down 13 weeks is the only function that prevents double-boating. In other words, even if the power-down 7 days are 100 percent, there is no problem in achieving the goal.

Please...

Let's change these useless functions first.

That way, I think the steam will revive.
πŸ‘  
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@ackza ·
7 day steem power down, LOL in ur dreams... how about 7 Weeks?
go use golos, its 10 weeks...
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@isarmoewe ·
You want to have more people off? For what reason?
πŸ‘  ,
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@novacadian ·
Can only see lowering the power down period as advantagious to speculators and the lambo crowd. Can't see it helping the community. Mind explaining how you think it would help?
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@sircork · (edited)
$0.03
Sure, it's been ascertained that large investors won't invest (aka speculate, which is what ALL investors are doing, always) without availability of equally liquidity. It's even been point blank documented as such by @TimCliff during his forays into trying to attract institutional investors. If you want big money to move in and keep the ship afloat, you have to give them the ability to exit as well.

It's really fundamental to the very word "currency" rooted in "current" - currencies only have value if markets give them value, and agree to value them, and if a current can't flow, it has no value and stagnates. Not attractive to investors and equally deterring to smaller accounts who simply want to do whatever the hell they want with their cryptos. How many other chains require you to keep your money in them, and keep it untouchable for various essentially randomly decided lengths of time? That's not how currency works, that's not how investment markets work and that's generally not going to work. As proven already in practice on this very platform.
πŸ‘  , ,
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vote details (3)
@smooth ·
$0.03
https://twitter.com/NickSzabo4/status/1061779257448325120

"If it's easier to enter than to leave, think twice before entering"
πŸ‘  , ,
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@transisto ·
Down-vote pool and 50:50 curation:author is also considered.
πŸ‘  
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@freebornangel ·
Why cant we just pay curation on flags, then they are revenue neutral?
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@mahdiyari ·
Development is good. But it is not the whole part of the business. This is why we have many developers and fewer businesses.

Take your time and go out. Attract more investors. 1 or 2 million account is not enough.

Please take care, we love Steem blockchain.
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@newageinv ·
$0.29
Awesome! That’s all we need; short and sweet!  As long as we get some communication I think the community can continue forging forward.  I know it encourages me to continue investing time and money into the ecosystem. Thanks!

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
πŸ‘  , , ,
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@andrarchy ·
We'll do our best to keep the communications coming! Thanks for sticking with us
πŸ‘  
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@ats-david ·
Has STINC ownership changed hands? 

And what happened to Ned? Is he still alive? I’m very worried. I’ve heard troubling rumors about his well-being.
πŸ‘  
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@jaki01 ·
Thanks, but your last comment - this one - is already 7 days old ...
Why don't you take part in the discussions more frequently?
What is @ned doing? I hope he is doing well! What happened with the last announced livestream?

Merry Christmas! :)
πŸ‘  
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@nokodemion ·
You stole that line, from the booster bot. :)

:Thanks for sticking with us:
πŸ‘  
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@socky ·
$0.03
Are you still working for Steemit Inc, or you supporting pro bono?
πŸ‘  
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@clumsysilverdad ·
$0.04
no, we need more than something every fortnight ... I thought steem boasts about rapid transactions !!
πŸ‘  ,
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vote details (2)
@richatvns · (edited)
$0.38
agreed daily update, closed bugs takes 5 min.
Thats what professional systems do:

![](https://cdn.steemitimages.com/DQmWpzFiJpgs4KN5sCgefKW4ztEgReSE5hwuxXJTgY58DTM/image.png)

This system architected by me is 21 years old and being licensed by 5 companies and updated all the time.   It hetrogenous and contains 700 code files and can work with any database system that can use ODBC connections, and deals with changing venues like ebay, amazon,new egg, tjx, alibaba, craigslist, and others without a code change.  It was developed by 4 developers incrementally over the past 20 years.  And it runs on a low end server with other processes, but serves 100s of users.  Only tracking logs, and there reports requires a second server, which does not work in real time.

This is the start landing page....NOTE ALL THE LIVE FACE FRONT INFORMATION I PROVIDE THE USER BASE!!

IN the past year I have received only 1 request to add a new custom module FROM ONE OF MY LICENSEES.

Why because everything is above board and there are configuable reports and plugable code, with ample tutorials...

There are graphics in other parts and pretty buttons and statuses, 
but not on this page, because you can explain better and more succinctly with words.

It's quick easy and understandable...

NOT OBFUSCATED AND HIDING!

This is the type of Professionalism I have been talking about from my first week on the SteemIt website and as I am looking at developing on the Steem Blockchain.

And it is a direct result of having NON-BUSINESS AND HISTORY KNOWLEDGABLE people running the company.

I have offered my services to help multiple times...
Considering I live less than 30 mins away from their location in NYC.

It's height of Hubris the way they are going forward.
πŸ‘  , , , , , ,
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vote details (7)
@fknmayhem · (edited)
You’re easily pleased. 

Some talking to the hand and you’re satisfied. Wanna blame BTC that Steem dropped from around 24 out of the top 50?
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@newageinv ·
Pleased that communication has come back rather than the uncertainty and not knowing what was going on.  Given a smaller team, they probably need to prioritize their efforts at the tasks at hand but the fact they were not communicating was concerning.  A short and simple statement of acknowledgement that they are present and working goes a long way for me, my opinion, my stake.  I no longer seek to depend on Steemit Inc for all I want out of Steem but this transitional phase is important for them and the community to be present.

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@oldtimer ·
$0.17
Can someone please explain to us, how big this awesome team is?
πŸ‘  , ,
πŸ‘Ž  
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vote details (4)
@smooth ·
$0.21
Downvoted because of the $1 self vote but its actually a legitimate question. Which they won't answer because they don't understand the business they are in and think they are a spy agency.
πŸ‘  ,
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vote details (2)
@oldtimer · (edited)
$0.16
I upvoted just for visibility, to stay on top because we all want to know the answer. 
Not for the reward.
There is no transparency on steemit. 
My grandkids can draw the charts of steemit progress like steemit.inc did for SMT. For free, of course.

Who the hell would buy cheap steem not knowing who's driving this crazy bus?
πŸ‘  ,
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@pouchon ·
Great info and it is well needed and well received. 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
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@nokodemion ·
Ohh please, ... :)
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@nokodemion ·
$0.15
Being pessimistic is part of a great survival technique, it is the only strategy that can bring great relieve. (Do you know that feeling)?

Being positive is a fools strategy, it can only bring great dissapointment. (Do you know that feeling)?

See and feel the difference?

*smile* *giveshimthatclinteastwoodlook*
πŸ‘  , ,
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vote details (3)
@pouchon ·
$0.02
Everyone is pessimistic 😭, steem is going down. 
Blame decentralization!!
New infos are coming 
Few is showing a somehow emotions. 
I don’t get it. 
What do we need to show interest or something in between!?!πŸ€”πŸ€”
I can spend the rest of the day in despair or *complain*
I chose to be positive


Ohh please,... :) come on. 
I thought we were in the same boat
Steem blockchain 
Keep on postin 

Posted using [Partiko iOS](https://steemit.com/@partiko-ios)
πŸ‘  
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vote details (1)
@riseofth · (edited)
$0.06
Please collect a fund from VC or potential investors (e.g. $20M), invest them in low risk income generating equity such as PHK, it will earn $20K per month for eons. With that monthly dividend several sleak nodes can be run and also, few remote devs can easily be hired for eons. Capital will be always locked with little risk.

https://finance.yahoo.com/quote/phk?ltr=1

Moreover, please consider these suggestions: 
1. https://steemit.com/steem/@riseofth/dear-whales-who-sold-100ks-of-steem-during-bull-market-above-usd2-please-buy-back-there-are-millions-of-liquid-steem-on-sale

2. https://steemit.com/steem/@lordbutterfly/awareness-interest-desire-action-how-to-take-steem-from-53-to-3-being-concrete
πŸ‘  ,
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@nokodemion ·
lol, and pay a 33% premium
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@s3rg3 ·
$0.15
Now this is a relief for me! Finally I can stop hyperventilating! News from home base!!! Still Kickin and alive! Good to read that you are working hard with the team in the background!
πŸ‘  
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vote details (1)
@clumsysilverdad ·
$0.04
yeah, but "kickin'"the can down the road, or actually kicking ass ?!?!?!   who knows
πŸ‘  
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@s3rg3 ·
$0.04
Because I am a positive guy, I choose to believe in the best scenario for now
πŸ‘  ,
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vote details (2)
@sathyasankar ·
$0.04
The optimism from your side is what the entire steem community has been waiting all these days for. It is good to see steeemit Inc showing a sense of hope on this platform.

To your knowledge, there are a number of developers who have developed many brilliant apps on steem Blockchain who, show the optimism that they can maintain their nodes even  if the price of steem hits 0.001USD.

Meanwhile, I'm really happy to see the price of steem starting surging. I trust this blockchain!
πŸ‘  ,
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@elipowell ·
Thank you. We plan to get back to communicating more as things progress.
πŸ‘  ,
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@sathyasankar ·
So, is this your first ever post? Welcome to steem blockchain by the way!
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@sircork ·
$0.81
So basically the same shit you've been saying since over a year ago, more or less, mostly less.

How did things go in Malta, eh @Ned? Why don't you start telling some truths, instead of stretching your lies.
πŸ‘  , , , , ,
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vote details (6)
@bearbear613 ·
$0.02
as long as you put BETA on the website. - it's ok
πŸ‘  
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@sircork ·
Oh it's really NOT okay. @bearbear613 - dm me in discord sometime. We should talk.
πŸ‘  
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@kaminchan ·
Gosh! This is tantalizing! What's been hidden from the public?
More info, if possible!

Cheers.
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@sircork ·
I'd say that's up to non-existent numbnuts @ned to explain, I'd say everyone will know what Im talking about within a month or so anyway.
πŸ‘  
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@socky ·
$0.11
I was under the impression that you folks quit...
πŸ‘  , , ,
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vote details (4)
@clumsysilverdad ·
you mean quit communicating again ??
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@socky ·
$0.22
No, I meant quit for good. @ned (CEO) not showing up for his scheduled post and new account creation has stopped with no word from Steemit Inc in a while. I was just under the impression that they have totally quit and shut down. I was just waiting for Steemit to stop functioning too.
πŸ‘  , , ,
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@grey580 ·
!popcorn
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@popcornexpress ·
$0.03
![](https://cdn.steemitimages.com/DQmcqnzBK68emvEnpYaopYCZCyonLpT9DDP15Km64cg9PyD/9.gif)
πŸ‘  ,
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vote details (2)
@ssjsasha · (edited)
$0.07
If there is anyone who can share a link, copy and paste, or be kind enough to take the time to reply to me about the following I would appreciate it:

if my steemit account is on a laptop, and I have zero backups of any passwords.. what steps do I take to ensure that my steem power, steem and steem dollars are accessible to me with the ability to send them or receive more?

before I generate a new password or click anything I shouldn't I want to make sure I know what I am doing. I am thinking of creating multiple paper passwords so that INCASE steemit.com one day shuts down I can still have access to my investment into the steem blockchain and its communities.

Thank you in advance to those who help me out.
πŸ‘  
πŸ‘Ž  
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vote details (2)
@clumsysilverdad ·
$0.03
don't worry, no one is interested in stealing crypto at the moment... check back in 6 months for an update (-:
πŸ‘  
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vote details (1)
@ssjsasha ·
$0.23
I am not worried about my steem power  being stolen, that would take 13 weeks in which I would have time to stop the thieves... this is more about losing access to my account and coins
πŸ‘  ,
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@tamiil ·
You should always have the master key backed up somewhere offline, like a USB stick or smth. If steemit.com goes away you can always use other dapps to make your transfers, but if you have no idea what your passwords are then I don't know what to do honestly.
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@ssjsasha ·
$0.22
I want to write everything down a couple of times
πŸ‘  ,
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@tarazkp ·
$0.02
you really don't have paper backups yet?? :D
πŸ‘  
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@ssjsasha ·
$0.23
no, want to help?
πŸ‘  ,
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vote details (2)
@trumpman · (edited)
$0.18
Tldr: We continue to do nothing. This is just another all talk no action announcement to keep your hopes up while we keep powering down and sell our ninja mined stake.
πŸ‘  , , ,
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@enforcer48 ·
Only a some 8 digits more to go! Oh wait...they might stick around to milk more for the fun of it.
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/steemitblog__steemit-update.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@whatsup · (edited)
$0.98
Translation:  We are still here focused on making things more affordable. (this is good)

We don't know what we will do after that.

One thing we might do is SMTs Lite.

Okay they breathe, time to look for other development options if the community feels upgrades are important.

We can likely continue to limp by as is.
πŸ‘  , , , , , , , , ,
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vote details (10)
@clumsysilverdad ·
translation;  blah blah , eenie meenie miney moe, keep saying same empty jargon

sorry, but true
πŸ‘  ,
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vote details (2)
@mentalhealthguru ·
$0.06
Lol im slowly dieing. Are hope comes from otger devlopers

Posted using [Partiko Android](https://steemit.com/@partiko-android)
πŸ‘  , ,
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vote details (3)
@whatsup ·
$0.08
You will not die, don't be dramatic.  Perhaps you feel discouraged.  

No need to panic it is a good thing they are working on making the blockchain more efficient, which is good for all of us.  My point is that is all they are committing to and some people are still pretending we will have SMTs and upgrades coming.  I find it really unlikely.
πŸ‘  , ,
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vote details (3)
@riseofth · (edited)
$0.26
**STEEM blockchain already can handle tokens.** In fact, @pocket-a by @biophil was the first token that was airdropped on Steemitians (one million per account). Anybody could send POCKET with a comment. It was initially traded at Bitshares 100-200 per BTS.  It is not maintained anymore. It is open source and anybody can launch a TOKEN (similar to SMT) right now if one wishes.

pocketsend:100@whatsup

https://github.com/biophil/pocket

https://steemit.com/pocket/@biophil/the-future-of-pocket

https://cryptofresh.com/a/POCKET

SMT should not be that hard. It will be probably released but delayed.
πŸ‘  , , ,
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