Today, I discuss one of the very important tools on Steemit steemscan.com. Steemscan is a user friendly tool that allow users to convert steem to other cryptocurrencies such as BTC, TRX and USDT. It allows newcomers like myself to change crypto into fiat("Cashing Out"/Withdrawal) independently without relying on other people who may or may not use it as an opportunity to charge fees for such services.
The current Steem price as of 11th October, 2021 was $0.622. All cryptocurrencies are volatile meaning their prices rising and falling because they are still in their early stages as compared to other investment means and also because they show a lot of potential. Thus, Steem price differ on different days. The table below shows a list different days and the corresponding Steem prices on those days including the day this post was written.
|October 11, 2o21||0.62222|
|September 03, 2021||0.6145|
|September 02, 2021||0.6126|
|September 01, 2021||0.5866|
|August 31, 2021||0.5714|
The Steem trading volume as of 11th October, 2021 was $9,336,388.61 55.01%. Steem trading/price volume simply means the total amount of steem coins that were traded within 24 hours.
The latest transactions section on the steemscan tool show all recent activities on the STEEM blockchain. This includes votes, comments and posts . If you are looking to check the progress of the STEEM blockchain before investing in it, steemscan.com is the best place to be.
Blocks in blockchain represents a record of transactions executed and then stored into a file(block). The latest block section on steemscan.com displays the current block created by users in the blockchain. This helps users monitor all transaction going on in the blockchain.
Witnesses are very important in any blockchain system including Steemit. Witnesses are responsible for creating blocks and are part of the governance body of the platform. The election of witnesses is provided by the Steem community, and they are elected through a voting system that is based on the stake of the voters. Every user on Steem can cast up to 30 witness votes, and through these votes, weighted by the stake of the users, is possible to form a ranking of the witness nodes. This ranking will be used to determine which witness will be able to add new blocks to the blockchain.
The witness section on steemscan is shown below
How to vote a witness
- On the steemscan homepage click on menu
- Click on Witnesses
- Look through the list of witnesses that appear and click on "vote" on the column of the witness you want to vote for.
- Click on "Continue"
- Enter your account user name and your private user key
- Clink "Get Started"
- Click "Approve"
Decentralized Applications just as the name suggests are software that run on a blockchain, meaning those software are run on multiple servers( computers) and no single organization/computer has full control over it.
I have had a brief look at the SteemWorld DApp as well as the Steemit DApp. I have heard quite a lot about the Krypto Gamers DApp and I look forward to trying it out.
Quick Convert is a feature on the steemscan tool that enables users to convert STEEM into other cryptocurrencies such as TRX, USDT and BTC. It is more profitable to convert your STEEM to TRX than to BTC and USDT because the fees charged for STEEM to TRX conversion is relatively lower as compared to the later cryptocurrencies.
The following are the steps you can take to convert your STEEM to TRX, USDT or BTC.
- Select "Quick Convert" on the menu bar
- Enter the Steem Amount
- Specify the cryptocurrency type you want to convert to ( i.e either TRX, USDT or BTC)
- Enter your Wallet address
- Click on "Create Order"
The Search Feature
This feature allows users to locate previously executed transactions, account and block transactions for all time. Details that need to be provided to make the search are shown in the image below.