| json_metadata | "{"app":"musing/1.1","appTags":["steemit"],"appCategory":"steemit","appTitle":"What's the difference between steem and bitcoin?","appBody":"<p> </p>\n<p>Steem & Bitcoins both are cryptocurrencies on the top of their respective chains which are known as steem blockchain and bitcoin blockchain. But they have different use cases.</p>\n<p><strong>Bitcoin</strong> </p>\n<ul>\n <li>It is generally considered as store of value.</li>\n <li>It does not have inherent inflation(block rewards for miners do not come under inherent inflation).</li>\n <li>The block creation time is 10 mins.</li>\n <li>Sacalability is still not that good. The maximum capacity is somewhere between 3.3 to 7 transactions per second.</li>\n <li>The consensus protocol in the bitcoin blcockhain is Proof of Work(PoW) and based on this protocol the miners who run the nodes in the network are paid with block rewards as incentives for validating the bitcoin transaction and updating the same in the block.</li>\n <li>Very highly talented developers in bitcoin community and very good & active community in deed.</li>\n <li>It is the flagship cryptocurrency of crypto market.</li>\n <li>The market capital is still dominant in crypto market and the market cap share is still more than 50%. That shows the level of dominance.</li>\n <li>It is the first ever crypto currency to complete a decade.</li>\n <li>It influences the entire crypto market very strongly.</li>\n <li>It is the number one crypotcurrency in coinmarketcap.</li>\n <li>It requires transaction fee to send bitcoin to another user.</li>\n</ul>\n<p><strong>Steem</strong></p>\n<ul>\n <li>It has inflation and based on that inflation, the authors, curators and block validators & producers are rewarded.</li>\n <li>The consensus protocol is Delegated Proof of Stake (DPoS) and it is based on 21 witnesses system and to reach a consensus it requires the approval of two third majority in the network.</li>\n <li>The featured product is social blogging with steemit as the main dapps on the top of steem blockchain.</li>\n <li>It has so many dapps developed lately and the numbers are growing, offering an ecosystem to accommodate all types of social bloggers.</li>\n <li>It is relatively new coin and it is now 2 year 9 months old. The coin marketcap rank is hovering around 50.</li>\n <li>It is the native coin of steem community.</li>\n <li>It is considered as the altcoin (Any crypto coin other than bitcoin is altcoin).</li>\n <li>The price action is still influenced by the broad market sentiment which is driven by bitcoin.</li>\n <li>It does not require any transaction fees if someone sends steem to another user.</li>\n <li>Block creation time is 3 seconds.</li>\n <li>Scalability is considerably high as compared to bitcoin and it can scale up to 10000 transactions per second.</li>\n</ul>","appDepth":2,"appParentPermlink":"pkulnegaq","appParentAuthor":"jerrybanfields","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
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