Today we have a bonus Steemit Podcast episode for you all! Earlier today we released an interview with @good-karma, the Founder of @esteemapp and now we have an interview with Senior Blockchain Engineer @vandeberg in which he explains Steem's revolutionary Resource Credit system which is key to making Steem the best freemium blockchain in the world for powering applications.
While other blockchains like Bitcoin and Ethereum use transaction fees to allocate resource consumption by the network, Resource Credits enable Steem to allocate resources without charging any fees at all, while still preventing spam and bloat. It may sound simple, but as @vandeberg explains, delivering these unrivaled features are not simple at all.
A lot of work is being done behind the scenes by the blockchain to ensure that reasonable usage of the blockchain is allowed for free, while users who place an excessive load on the network are nudged to acquire more Steem Power. This keeps the system free by making it stake-to-play, as opposed to pay-to-play.
In this episode, we learn more about this under-appreciated system, and why Steem is uniquely suited to benefit from it, unlike general-purpose protocols like Ethereum.
i will be taking time to watch the interview thanks a lot
Great to see the increase and communication. It instills confidence!
This is the best explanation that I have seen of the Resource Credits system. I was concerned about not using the full potential of my account. I saw my RC's never went below 90%, and I thought I must not be interacting enough (getting full potential). Thank you for the detailed explanation. I understand it now. Also, it is really great that we get to use up RC's instead of transaction fees. Just another great reason why Steemit stands out.
Very interesting. Thanks for the in depth look on this.
RCs do limit what spam accounts can do, but new users who find they cannot post due to low RC need some clear indication of how they can remedy that, e.g. by buying some Steem to power up. There are various people who will delegate to new accounts and it ought to be easy to find those.
Thanks for the informative video. I appreciate the increased communication about topics that impact the Steem community. Can’t wait to see RC delegations.
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Yea , the increased comms is great, but im starting to feel like the spoilsport here. Most of us here understand RC, or at least what it does practically. But how would you explain to "the massed" you are so eager to on-board that they can't just post puppies at will unless they power up for money ?
As i said ... i'm not mister negative, i'm mister real, these are questions that need answering, not to me, because i dont believe the masses are your saviour. Your saviour is entrepreneurs bringing business running straight off that comes with incentive to buy, your saviour is a few of the the fortune 500 who see options and opportunity because you can convince them and your saviour is partnerships where you provide PAID service so you can stop dumping your own , already hyperinflated, coin into oblivion because
bills need to be paid
yea im great at making friends, people just <3 the truth and bland reality :)
but really ?
see here a situation "IRL" :
i'm not salesforce at all so i probably don't talk the talk but of all people i mentioned it too i have had only one who said "maybe" ... then checked it
then was like "but they need to know my phonenumber, i dont wanna do that" ... (understandable somehow in an age where all data is sold and 75% of the calls you get daily are callcenters you neer asked for)
and then i'm like, well, if you want i can make you an account for free, i mean it used to cost around $40 but now its like a euro, right ? i can do that for a friend ... and then she like " yea sure"
and then me like but and she like BUT ... "can i just talk to you like on facebook and stuff"
and me like "well no, your basic account won't let you do much, you're gonna have to power up, either by eh, well we all know powering up from getting votes at the moment is reserved for the fortune 50 and the featured few here, Or either by BUYING steem)
so she like well hmm ... i dont think im gonna do much with that ...
you see ?
i dont wanna break you down but since i have what one would call vested intrest in your company i need you to see reality
this is NOT for everyone :) not as is
yah ? the way things are now and what you're communicating (even if its GREAT that you're doing more) it sounds like you expect everyone on the planet to onboard as a marketing and networking genius who is both interested and willing to spend time on expanding it ? how "real" does that seem when i phrase it like that ?
yea, so shoot me, but i like to not hype but real to prevent headaches
keep getting the word out, ty
I'm looking forward to being able to delegate RC's! Thanks for this look into how and why RC's are of so much value to Steem!
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What i would like to see is a way to delegate RC Seperately from steem. People with some SP rarely use their resources up, and newbies without any SP can barely Post or comment.. Delegating RC to people we know to be genuine and not spammers would really help engagement.. which took a huge nosedive after the last fork...
Thanks for explaining Sir.
@vandeberg... sold all his household furniture to buy STEEM
You got a Resteem on behalf of @aro.steem
I haven't seen the video thoroughly but from what I can understand, RCs are useful to the Steem blockchain maintaining etiquette among users. However, it can be dreadful to new users and the only way to have more RCs is to buy and power up with Steem.
Very nice podcast, It's happy to become this platform!
If we don't fix this RC problem soon, it will be one of the nails in the Steem coffin.