Cryptocurrency-related platforms often struggle to gain any sort of traction. Even when they do so, sustaining long-term growth has proven to be nearly impossible. In that respect, Steem is most certainly doing something right. With the one millionth account having been registered on this blockchain, its associated Steemit platform is also making significant progress.
Steem is Trucking Along Nicely
For those unaware of what Steemit is, it is the native platform of the Steem cryptocurrency project. For content creators, Steemit offers an interesting solution, as it allows users to earn money by offering contributions. It is a very community-driven project which relies on the Steem technology to be successful. As such, Steemit and Steem will be entwined for the foreseeable future, and one will not succeed without the other.
In a recent blog post, the Steem team confirmed that things were going according to plan. Over 1 million unique accounts exist on the Steem blockchain at this stage, which is rather impressive. A lot of new users continue to join the Steem project every single day, and it seems the rate of growth is only increasing. That makes it very different from most other cryptocurrency-related projects, which eventually faced a steep dropoff in popularity after the initial hype died down.
For Steem, things are firing on all cylinders right now. The company has confirmed that there are over 1 million transactions per day on the Steem blockchain. That is a rather steep number, especially when compared with other cryptocurrency blockchains. Furthermore, it appears no other project even comes close. In fact, the Steem blockchain is processing more transactions than all other chains combined. Additionally, the team claims close to 60,000 unique accounts transact on this blockchain every single day.
All of this is also great news for the Steemit platform, as it sees hundreds of thousands of unique visitors each day. Considering that a lot of DApps work in tandem with the Steem blockchain, these numbers are only expected to rise in the near future. Of these DApps, it seems Esteem is the most popular offering. Busy and Zappl are also gaining some traction, and a fair few smaller DApps are in the mix right now. Steemit is still the main source of Steem-related activity, but it is good to see some competition in this regard. Growth is key in the world of cryptocurrency, and it seems this project is doing a lot of things right.
While all of these statistics seem promising, there is no time to rest on one’s laurels. There is still plenty of work to be done before the mainstream embraces Steem or any of its DApps. Indeed, most of its users are existing cryptocurrency enthusiasts, rather than people who have never ventured into this industry before. It will be interesting to see what the future holds for Steem in this regard, but so far, the numbers look promising.
