Need For Speed Blockchain Comparison – How Fast Is Steem?

Need For Speed Blockchain Comparison – How Fast Is Steem?

As demand rises and blockchains grow, they must be able to scale. When doing a blockchain comparison there are several aspects that should be looked at. The speed of blockchain transactions is one of the most important aspects when considering scalability and usability.

The first ever blockchain, Bitcoin is now over 8 years old. It still functions well as a store of value, but the rise of transactional and speculative demand of Bitcoin has severely slowed down the database.

A few weeks ago, community members of Steemit launched a Thunderclap comparing The blockchains STEEM, Ethereum, Bitcoin, and Litecoin.

The results are staggering. STEEM transaction speed is lighting fast compared to the other blockchains. The Thunderclap included the following GIF made by Steem user @kyriacos. Check it out:

If you think STEEM if fast, wait till EOS launches in June 2018! Many of the developers that built BitShares and STEEM are now working on EOS. We believe that everything they learned and perfected on the first two iterations will help EOS be the best blockchain yet.

Learn More About STEEM & EOS:

How To Register Your EOS Tokens In The Exodus Bitcoin Wallet

How To Register Your EOS Tokens In The Exodus Bitcoin Wallet

We are big fans of Exodus and we know many of our readers are as well. We have secured information on how to register your EOS for when the blockchain launches on June 1st, 2018.

Right now, all EOS Tokens are actually ERC20 Ethereum tokens and they will need to be registered for claiming the future EOS Blockchain Tokens. This process is quite simple using MyEtherWallet.

The registration process needs to be done only once. Any additional EOS sent to your wallet after the registration will automatically be registered.

The information in this post (both text and images) comes directly from Exodus Support: http://support.exodus.io/article/65-i-ve-received-eos-tokens-in-exodus-how-do-i-register-them

Step 1

1. Export your ETH private key using the Developer Menu. Here’s how you open the Developer Menu: http://support.exodus.io/article/79-how-do-i-open-the-developer-menu

PLEASE USE THIS WITH CAUTION AS THESE PRIVATE KEYS GIVE ANYONE WHO SEES THEM 100% ACCESS TO YOUR ASSETS.

 

Step 2

Go to MyEtherWallet dot com and select “Send Ether & Tokens” then click “Private Key” to access your wallet. Paste in your Exodus Ethereum Private Key and click “Unlock”

 

Step 3

Once unlocked you will be able to see your EOS tokens in the token box on the right sidebar.

Note: you will need at least 0.01 ETH in your wallet to complete the registration process

 

Step 4

Go to https://nadejde.github.io/eos-token-sale/ and create your EOS Public and Private Key.

Note: Save these keys for future use

 

 

Step 5

Return to MyEtherWallet and select  “Contracts” from the menu then click on  “Select a contract” and choose  “EOS – Contribution.” Click  “Access” this will prefill the EOS contract address.

 

 

Step 6

Scroll down the page and click  “Select a Function” then choose  “Register” from the menu.

 

Step 7

Paste in your EOS public key, then in the next field “How would you like to access your wallet?” choose “Private Key” and paste in your Exodus ETH Private key, click unlock and then select “Write.”

 

Step 8

In the pop-up window “Amount to Send” should be 0 and “Gas Limit” should auto-populate. Then click “Generate Transaction” and select “Yes, I’m sure.”

 

Your EOS Tokens Are Now Registered! 👍

How to verify the token registration:

Select “Contracts” from the menu then click on “Select contract” and choose “EOS – Contribution” then scroll down the page and click “Select a Function” then choose “Keys” from the menu.

Paste in your Exodus ETH public key ( Exodus Receive Address) and click  “Read.” You will then see your EOS public key in the -string- attached to your ETH public key.

 

Why EOS?

EOS will be the most powerful infrastructure for decentralized applications. Watch these videos to learn more:

Japan Might Launch It’s Own Crypto Called J-Coin

Japan Might Launch It’s Own Crypto Called J-Coin

The 2020 Olympic Games will happen in Tokyo, Japan and the Japanese want to be ready for the influx of people that will come into the country for the event. Banks in Japan are now hoping to create a digital token and fully replace cash before the Olympic Games. The goal is to make the Japanese financial system more streamlined as cash transactions cost significantly more than digital transactions.

From CoinTelegraph:

“The J-Coin is intended to function in tandem with the Yen, rather than replacing it. The coin would be exchanged at a one-to-one ratio. The service for the coin would be offered freely but would be a means of tracking transactions that is far more complex in a cash-based society.

The coin will likely see release in the coming years, though the infrastructure of the system is not yet clear. It may be based on Blockchain technology, but the specifics are as yet unreleased. Recent reports from the Bank of Japan indicate that it does not consider Blockchain technology ‘mature’ enough to handle transactions.

The suggestion of a government cryptocurrency falls in line with the idea that governments around the world are seeking to start their own proprietary cryptocurrencies.”

Get Ready! Hardware Wallets Are Coming To Exodus – The Full Exodus Wallet Roadmap

Get Ready! Hardware Wallets Are Coming To Exodus – The Full Exodus Wallet Roadmap

Exodus is easily one of our favorite Bitcoin and cryptocurrency wallets. The UI is amazing, you can store a multitude of different blockchain tokens and there is a built in exchange tool.

AND EXODUS LETS YOU CONTROL YOUR PRIVATE KEYS 👍

Currently Exodus supports Aragon, Augur, BAT, Bitcoin, Civic, Decred, Dash, EOS, Ethereum, Gnosis, Golem, Litecoin, OmiseGo, Qtum and SALT.

And now It has been confirmed! Hardware wallets will be available for Exodus!

“The Exodus team is very keen to add hardware wallet support (e.g. Trezor, KeepKey, Ledger Nano). I can also tell you that personally JP and I both want hardware wallet support ASAP… We also have heard from a number of high-net worth investors this is the ideal platform with the added hardware auth.

We can likely expect support for hardware wallets on Exodus sometime in 2018. The roadmap below has all the details on what Exodus plans to work on.

From woobull.com:

 

The Full EXODUS Roadmap

Feature Standard Release Eden[1]Release Details
Bitcoin 2015.12.09
Litecoin 2015.12.09
Dogecoin Removed Available in the initial 0.4.0 public release (2015.12.09), but removed for users with zero balances in 1.31.0 (2017.08.03) and fully removed from 1.34.0 onwards (2017.09.14) see Reddit post for more details.
Ethereum 2016.02.12 ERC20 asset support in v1.23.0 (2017.04.14)
Dash 2016.04.08 Excludes InstantX and PrivateSend features.
Golem 2017.04.14 Golem is the first ERC20 token to be supported by Exodus.
Augur 2017.04.27
Decred 2017.06.22 Excludes support for staking, but this is under evaluation for a future release.
EOS 2017.07.06
Aragon 2017.07.06
Gnosis 2017.07.20
OmiseGo 2017.08.25
Basic Attention Token 2017.08.31 2017.08.25
Civic 2017.09.14
Qtum 2017.08.31 2017.08.25
0x 2017.08.25
Bancor 2017.08.25
Bitcoin Cash 2017.08.25
DigixDAO 2017.08.25
District0x 2017.08.25
FirstBlood 2017.08.25
FunFair 2017.08.25
Metal 2017.08.25
Status 2017.08.25
Storj 2017.08.25
Wings 2017.08.25
Factom 2017.08.31 Private beta released 2017.02.10
SALT 2017.09.20
Ethereum Classic 2017.09.23

Exodus Eden Updates

  • 2017.08.25 : v1.32.0
  • 2017.08.31 : v1.33.1 : FCT
  • 2017.09.20 : v1.34.2 : SALT
  • 2017.09.23 : v1.34.3 : ETC

Future Roadmap

Feature Status Details
SEGWIT developing Support for Bitcoin SegWit transactions, currently under development, will reduce transaction fees.
Ripple developing
NEO developing
Monero 2017 Monero remains on the Exodus roadmap and we are excited to include this asset. Unfortunately, the UI/UX of Monero remains difficult and is still not ideal. Today novice users continue have difficulty with transaction notifications from the current beta GUI wallet from the Monero core team. Because Exodus does personal one-on-one support for each Exodus user we feel including Monero too early would cause a massive support burdon and confuse casual digital asset enthusiasts. Good news is we are getting closer and we do expect Monero to be included in 2017. Although pros and technical users may like bleeding edge technology, until Monero is rock solid, tested and “dog-fooded” internally Exodus will not release Monero until it is ready for “normal” (non-technical) digital asset consumers. Exodus posted an update on Reddit regarding the history and details on XMR integration (Jan 31, 2017).
ICONOMI 2017 Iconomi is an ERC20 token and expected to be released in 2017
Omni 2018 Likely in 2018. Omni, Maid, Tether all fall in the same body of work for Exodus
Maidsafe 2018 Maid is an Omni token and was expected to be released in 2017, but now delayed until 2018. These assets are built on the Bitcoin blockchain and will be contingent on the hard fork outcome in Q4 2017.
Tether 2018 Tether is an Omni token was expected to be released in 2017, but now delayed until 2018. These assets are built on the Bitcoin blockchain and will be contingent on the hard fork outcome in Q4 2017. We are most excited about Tether because of the ability to have a stable peg inside of the Exodus environment.
2FA planned 2-factor authentication support is on the roadmap, this is likely to precede Hardware Wallet Support
HARDWARE WALLET planned The Exodus team is very keen to add hardware wallet support (e.g. Trezor, KeepKey, Ledger Nano). I can also tell you that personally JP and I both want hardware wallet support ASAP… We also have heard from a number of high-net worth investors this is the ideal platform with the added hardware auth.
. .
Siacoin evaluating Exodus is intrigued with Sia but have not looked the tech to see what the options are.
SingularDTV evaluating SingularDTV is an ERC20 token.
TenX evaluating
Zcash evaluating If the Zcash network remains stable and has continual upgrades it is likely we will support this asset in 2017.
. .
Blackcoin excluded Exodus will have more interest in integrating staking protocols once Ethereum moves to proof-of-stake with Casper
Bytecoin excluded
Counterparty excluded
GameCredits excluded
IOTA excluded
Lisk excluded
NEM excluded
NXT excluded
Peercoin excluded Exodus will have more interest in integrating staking protocols once Ethereum moves to proof-of-stake with Casper
Steem excluded
Stellar excluded
Synereo excluded
Waves excluded

UPDATE HISTORY:

  • 2016-09-19: Storj, Siacoin, Blackcoin, Peercoin, Synereo, Bytecoin
  • 2016-09-23: Zcash
  • 2016-09-30: Monero, Omni, Tether
  • 2016-10-07: ICONOMI, Augur, SingularDTV, DigixDAO
  • 2016-10-17: Ethereum Classic
  • 2016-10-25: Waves
  • 2016-11-05: Maidsafe, Omni, Tether
  • 2016-11-13: Monero
  • 2017-01-15: Updates to status of most coins
  • 2017-02-13: Factom
  • 2017-03-07: Factom ETA updated
  • 2017-04-02: Factom ETA updated
  • 2017-04-06: ERC20, Golem
  • 2017-04-17: ERC20, Golem
  • 2017-04-22: Decred, Storj
  • 2017-05-01: Augur
  • 2017-06-05: Ethereum Classic
  • 2017-06-07: Factom
  • 2017-06-22: Decred
  • 2017-07-10: EOS, Aragon
  • 2017-07-20: Gnosis, Dogecoin, 2FA support
  • 2017-08-17: OmiseGo
  • 2017-08-27: Exodus Eden Assets: 0x, Basic Attention Token, Bitcoin Cash, Bancor, Civic, DigixDAO, District0x, FirstBlood, FunFair, Metal, Qtum, Status, Storj
  • 2017-08-27: Roadmap updates: OMNI, Tether, Ripple, NEO, IOTA, SALT, SegWit Txs
  • 2017-09-18: Basic Attention Token, Civic, Qtum
  • 2017-09-21: Factom, SALT
  • 2017-09-24: Ethereum Classic
Monero Is Now The Only 100% Anonymous Cryptocurrency

Monero Is Now The Only 100% Anonymous Cryptocurrency

A new blockchain analysis firm has released surprising news about Dash and ZCash. There is only one true anonymous cryptocurrency on the market at this time, and it is Monero.

BlockSci, a new blockchain analysis firm, has successfully traced transaction from beginning to end on both DASH and ZCash. This is bad news for these blockchain projects as their biggest focus and value add is anonymity. Now this is technically gone.

The good news is that they were not able to trace transactions on Monereo. Monereo’s level of anonymity and obfuscation is still impenetrable.

MONERO Is Still 100% Anonymous. 👍

From themerkle.com:

Criminals flocking to other cryptocurrencies may want to think twice about those as well. As BlockSci’s whitepaper explains, there are very few cryptocurrencies which have eluded their scrutiny. One of those currencies is Monero, as it provides a degree of anonymity and obfuscation the group has not been able to crack just yet. Monero is officially labeled an “unsupported blockchain due to it not following the one-input one-output paradigm.” That is an interesting point which shows how Monero may be the only cryptocurrency providing full privacy and anonymity right now.

Some people may wonder how Monero is any different from Dash or even ZCash in this regard. While it is true the latter two cryptocurrencies have focused on privacy and anonymity to a degree, their implementations are far from perfect. BlockSci describes how they successfully traced both ZCash and Dash transactions from beginning to end, regardless of features like PrivateSend. This is anything but good news for people who value these currencies for their privacy or anonymity features.

In reality Dash and ZCash user don’t have to worry much. It would be expensive to hire a blockchain analysis consultant to track transactions on these privacy centered blockchains. Just know it can happen.

We still think Dash and ZCash are great. Even if transactions can be traced, it’s still a blockchain asset protected by cryptography. No one can take your crypto assets without your private key.

About Monero:

STEEM Launches Smart Media Tokens

STEEM Launches Smart Media Tokens

Steemit just released some very exciting news! Anyone can now launch a blockchain token on the STEEM blockchain using what is called SMTs or Smart Media Tokens.

Blockchain tokenization is becoming extremely popular with the rise of ICOs or Initial Coin offerings on Ethereum like the ERC-20 tokens and on BitShares with User Issued Assets.

Now Steem joins the world market for user created blockchain tokens, but with some unique features. Smart Media Tokens utilize a Proof of Brain algorithm by which the cryptocurrency is distributed. This simply describes the upvoting and payout structure for a system like Steemit. Now anyone can create a token for their content based project, just like Steemit.

 

From the Whitepaper:

Steem’s Smart Media Tokens (SMTs) give anyone the power to launch and sell Proof-ofBrain[1] tokens, which are tokens distributed by “upvote” and “like”-based algorithms
and can be integrated with websites to align incentives and spur growth, while websites are
empowered to adopt sustainable, currency-centric revenue models. This model has been
tested and continues to be proven by steemit.com, busy.org, chainbb.com, dsound.audio,
dtube.video and other Steem interfaces, which are monetizing content, tokens and media
in a way never before seen. Source: smt.steem.io

The possibilities are vast with this development. ANY PERSON can now launch their own crypto on STEEM wich has NO FEES! That is huge. Established brands, new brands, even a competitor like Reddit could utilize SMTs for their content.

*It is important to remember that growth of SMTs will lead to more transactions on the STEEM blockchain and demand for the STEEM Crypto assets. This is great news for holders of STEEM and STEEM Power.

 

The News via Ned Scott – CEO, Steemit Inc:

How Smart Media Tokens Work: An Animated Explanation

Shoutout to @dougkarr for creating the video! Way to go! 👍

Steem STMs are similar to “User-Issued Assets” which can be created on the BitShares DEX. Both BitShares and Steem blockchains utilize Graphene 2.0 technology for cryptographically secure decentralized ledgers.

Graphene Technical Documentation

User-Issued Assets on BitShares Decentralized Exchange:

bitshares accepted here

The BitShares platform provides a feature known as “user-issued assets” to help facilitate profitable business models for certain types of services. The term refers to a type of custom token registered on the platform, which users can hold and trade within certain restrictions. The creator of such an asset publically names, describes, and distributes its tokens, and can specify customized requirements, such as an approved whitelist of accounts permitted to hold the tokens, or the associated trading and transfer fees.

*Regulation-compatible cryptoasset issuance

Source: bitshares.org