It is no news for most cryptomaniacs using the ethereum blockchain that their transaction gets delayed even after setting gas so high , more so its no news that the cause of this delays and transaction backlog are cats! yes cute bad ass crypto kitties! More interesting news as reported by bitcoin.com 6 days ago, "Cybersquatting Kitties Cause Carnage" click to read up more .
Interestingly, 4 days ago, @steemitblog post titled "Digital Kitties on Steem? How would the Steem blockchain handle 700,000 transactions per day?" most of us who read the post got more insights on how ethereum is doing and if steem were in their shoes, how it will perform. see post above.
How is Ethereum doing?
According to http://blocktivity.info/, the Ethereum blockchain is currently maxed out at 100% capacity. There are more than 21,000 unconfirmed transactions sitting there, just waiting to be processed. Many users are unable to purchase their kitties, because the network doesn’t have enough capacity to let the transactions through.
Furthermore, @steemitblog postulated that
How would Steem do?
Steem is already processing a similar volume of transactions per day without breaking a sweat. All transactions are getting processed in 3 seconds, and the network is running smoothly. It has already set the record for the most transactions processed in one day, and it could easily handle several magnitudes more transactions per day without running into limitations.
Get all info from @steemitblog above.
The good news, is that come 2018 after steem blockchain launches Smart Media Token (SMT) steem blockchain will help ethereum and save it from such disgrace by taking over many transactions which will cause steem value to moon! This is further confirmed by a great steemian @andrarchy , in this comment > "The "kittie" would be hosted on the Steem Blockchain, the SMT would be the medium of exchange used to buy and sell them."
More so, my main Eden buddy @quinneaker also in his comment on @steemitblog clarified further thus; > "The SMT wouldn't handle the "DNA" the SMT would only handle the medium of exchange. The entire code and platform of the "DNA" would have to be written on Steem and then use the SMT as the medium of exchange."
Now what does this mean for steemians and those addicted to powering up their steem?
Come 2018, when steem blockchain takes over the blockchain space and enters into medium of exchanges, the volume of transaction in steem will skyrocket and since steem charges little to nothing and transaction time is max of 3 seconds, steem value will moon and we may surpass ethereum in trade volume. Already, we are experiencing steady rise in steem in coinmarket and Steem dollar is trading above $10 currently. This goes to show that the future of steem is more than bright! So keep powering up as come 2018, we will all be smiling to the moon.
Next big Altcoin worthy of mention!
Ethereum lyte or Elyte for short is the next best thing after steem and so many steemians are already buying in.
Offering just 1m tokens as total supply with as little as 550 circulation supply, top visible team, excellent and innovative product, deflationary nature, early adopters of Elyte are already smiling as they see bright future in their investments being that prices has shot up over 600% since inception just 3 weeks ago even as they are yet to be on exchange. However, unofficial trading still goes on in etherdelta . The good news still is team released a white list with bonus of 5% for each purchase, see link here (https://elyte.io ) get all info via telegram chat with link below.
Elyte website: https://elyte.io
Telegram : https://t.co/kAhkvVTPBF
More info on presale
The first 20,000 (Twenty Thousand) tokens sell at a price of 0.002 ETH for 1 Elyte ( plus 5% elyte bounty will be credited to the buyer ) . Price will increase after the initial sell off!!!
Price: 0.002 ETH / 1 Elyte
Recommended Gas Limit is 100,000
get more via white list (http://www.elyte.biz/)
Remember, folks that remain poor simply follow this trend; as they constantly P-Passing, O-Over, O-Opportunity, R-Repeatedly!
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Waste to health ( using Apple scraps as Vinegar-Episode 1)
The winning team (Bitcoin, Steem, EOS and the next big thing- Elyte!)