Steem is one of the fastest practical blockchains in the world.
In economy as whole, transfer of currency for goods is a Trillion dollar industry. The dominant force in this industry such as MasterCard or VISA performs 1000s of transaction per second(TPS) all over the world.
Therefore, the largest company based on TPS is not Bitcoin, it is VISA. It's marketcap is $382B, which is larger than whole cryptocurrency industry (i.e. $271B).
Interestingly, VISA performs on average 1,700 TPS. The graphene blockchains such as Steem and EOS can perform 10000 TPS. And, the record set by a blockchain is around 1000 TPS which is equivalent to VISA's TPS.
QTUM has recently published a research that it can perform 10K TPS. Interestingly, theoretically graphene (i.e. Steem) can perform 1M TPS with future improvements.
BTC can perform 5.8 TPS and ETH 22 TPS. Why then all the buzz around BTC? The developers of lightning network is claiming that they can build 1M TPS on BTC in future. It is an interesting claim. But lightning network is struggling to get any traction.
Chainspace, a DAG based blockchain recorded 350 TPS with 15 shards. With more shards they can achieve more than 10K TPS. Chainspace is recently acquired by Facebook. Therefore, Libra, Facebok's de-facto cryptocurrency is most likely based on chainspace.
Currently, Steem is one of the fastest practical blockchain that exist in real world. It is even more scalable than VISA and MasterCard in TPS wise. In future, can a stable-currency based on SMT can compete with VISA or MasterCard?
Interestingly, Though Steem is more capable than a mere TPS company such as VISA, still Steem's marketcap is hovering around $50M.
Moreover, Steem has DApps that can work like future FB (@steempeak), reddit (@steemit), medium (@busy), Quora (@musing), Youtube (@3speak), ProductHunt (@steemhunt), Pinterest (@dlike), Instagram (@appics), Whatapps (Steem Messenger), Marketwatch(@steem.leo) on its blockchain. Therefore, Steem could be easily the most undervalued blockchain in the world.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Thanks for reading.
@dtrade
Cryptominer , occasional trader and tech blogger since 2013
It will be interesting hiw well some of these blockchains can perfor during the next upcoming bull run. Lots of wild claims get made anout some of these hypothetical tps they can make.
Im sure during the next bull run lighting will become more popular as the bitcoin blockchain gets over loaded again.
The major drawback is the ecosystem is too immature for mass adoption and very centralized. Steem need to improve and solidified the foundation or otherwise, it will become like Myspace.
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The major drawback is the ecosystem is too immature for mass adoption and very centralized. Steem need to improve and solidified the foundation or otherwise, it will become like Myspace.
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