Steem Is In The Top Ten

No this is not clickbait nor it is speculation. It is the result of analysis of 22M commits.

Last night I came across this article by @edicted. He really put a different twist on things with this line.

Personally, I'm a bit biased when it comes to Steem, because I have a developer's background. I don't see any of the devs whining about price action and how Steem is "going to zero". What I do see are a bunch of diehards grinding out code no matter what happens, and that's inspiring.

Before getting into it, there is something which, if understood, will make the rest of the article a lot clearer.

We are dealing with technology here. Many want to turn it into financial which is natural. However, the essence of what is taking place is technological meaning that we see certain parameters coming into play.

The genius of Bitcoin is that it provided the ability to monetize peer-to-peer transactions without the need for a centralized third party verifying of said transactions. In other words, it provided the capability to move value across a decentralized system. This is something we really did not have before.

Even today, Bitcoin is on that same path. It holds the threat of disrupting the present financial system since it is faster, cheaper, and in most instances, more secure than what is used now. It was not long ago that Jamie Dimon was blasting it and, now, he is singing a different tune.

We enjoy the Internet because people developed web sites, servers using Linux, apache, java, protocols that enabled email and a host of other things. This is what we saw as we moved through the 1990s.

A decade later, the creation of Facebook, Line, Viber, Skype, WhatApp, and Snapchat all brought a new level of interaction. We also saw the move from static web pages to those dynamic, enabling two-way communication.

All this required development. This is what ushered in the first two iterations of the Internet.

Now we are at the beginning of yet another one.

So the question is how is Steem doing?


Steem comes in at #7 with around 80 average monthly developers.

I know it says 5 but the chart omits Ethereum (about 1150) and Bitcoin (roughly 330) to provide a log scale.

Hence, there are only 6 blockchains with more average developers than Steem.

More developers = more stuff down the road.
Less developers = less stuff down the road.

It is really that simple.

Steem also holds its own when broken down into part-time developers.


Here we see it come in at #6 slightly ahead of Monero.

The year did see some change in the developers throughout the industry and Steem was no exception. It lost about 16% from the end of H2 2018 through H1 2019. Once again, it was very close to Monero.


In terms of raw numbers, here is the change.


This is how the blockchains with more than 40 full time developers stack up through the two halves.


We see that Steem is in line with the overall results. All this is taking place during the "Crypto Winter" when prices across the board are falling.


Of course, there is a change in trend when prices pick up.


So what is all this and where did it come from?

This was the result of a report released by Electric Capital, which is a digital asset management firm.


They looked at over 3,400 crypto ecosystems going back to 2010. This is not a small sample size. According to their analysis of over 22M commits, Steem ranked 7th overall.

There was also a summary of the findings of the industry.


Looking back on @edicted's quote, it makes a lot more sense. We are dealing with a technology that requires development and these people are doing it. This is not only true for Steem but across the crypto industry. What is enlightening is how Steem ranks when compared to the rest of the 3,400 crypto ecosystems that were looked at.

The projects that are being worked on today will be what is used down the road. The entire premise of this study is to determine what is going to happen. This firm believes this is a leading indicator of where we will see value created.


Some like to call me a cheerleader or fan boy as a means to discredit. Well, as it turns out, a very important criteria puts Steem in the top 10. This is something that could be derived intuitively by watching what is happening. However, there are now the numbers which show what is truly taking place.

I presume many will still proclaim that STEEM is going to zero. Of course, that is always possible as it is with something like Bitcoin. But in light of all the development we see, especially compared to other blockchains that are supposedly "better" than Steem, the idea seems a bit preposterous.

So am I a cheerleader?

Let me see. The people (developers) that will have an impact on creating value for the ecosystem in the future earn Steem a Top 10 ranking yet the market prices it at #80 something.

Hell yeah I am a cheerleader. This is an exciting opportunity.

To view the entire slideshow along with the summary:

If you found this article informative, please give an upvote and resteem.



Comments 27

Thank you for all this great information, @taskmaster4450. I have always been optimistic about Steem, but it does get challenging to keep the faith when there is a general malaise and negative sentiment all around. It really helps to read things like this and think about all the exceptional work going on and the long range view.

Posted using Partiko iOS

13.08.2019 12:20

If you surround yourself with positive people, you will see much more positive picture. Follow people like @taskmaster4450, @exyle, @tarazkp, @theycallmedan, to mention just a few.

13.08.2019 18:15

esperemos que steem siga teniendo buenos resultados o valla en ascenso, los que hacemos vidas somos inspiración para otros eso es genial muestra lo optimistas que somos, saludos

13.08.2019 12:49

excelente articulo!

13.08.2019 12:59

Great to see some more positives about steem👍

Posted using Partiko Android

13.08.2019 13:01

nice one. resteemed!

13.08.2019 13:29

Thanks for the insightful statistics, the time will come for steem and altcoins for now all the attention is on bitcoin. After it has hit it's all time high people will look for other cryptos to invest in.

13.08.2019 14:00

How did you get 80 active developers if Steem has (on 3 years) only 68 developers?

And most are inactive?

13.08.2019 14:12

I would say that is looking at base layer contributors. There was another report they had from some time back that looked at the base layer contributors over a 6 month period and Steem had something like 14 (which aligns with your graph).

13.08.2019 15:30

I'm sad that Steem (as a blockchain) is underdeveloped. Because of course applications are important, but backend solutions are also important.

13.08.2019 21:49

So am I a cheerleader?

Your postings are always informative and generally uplifting. If that is a cheerleader then, hell, yes you are. 😎

13.08.2019 16:06

Yeah your the cheerleader of steem this is the big opportunity for us

Posted using Partiko Android

13.08.2019 16:47

I wouldn't say my cheerleading is an opportunity. The opportunity is Steem itself and the applications that our wonderful developers are creating.

There is a lot happening, at a much higher pay grade than me. We all should be thankful for the dedication and commitment of these coders. They are creating something amazing.

13.08.2019 17:19

So what we probably need is even more developers...

13.08.2019 18:18

I was already planning to power up with the cheap price right now, but this just reinforces my choice. I'm not a dev, but I do recognize community, and steem has the best i've seen. Even when I dropped off for the winter, the dedicated people such as yourself are still here. Keep it up!

Posted using Partiko Android

13.08.2019 20:01

Highly rEsteemed!

Screen Shot 2019-08-10 at 10.58.28 PM.png

13.08.2019 20:50

You are a fan-boy. That's why i follow you. I'm a fan boy as well. For the people that can only spew negativity about STEEM, I really don't see why they are still here complaining. Sell or delegate out your stake. If you don't want to be a part of the future here then complaining isn't going to do anything. It only hurts everybody else.

We need more cheerleaders and fan-boys to spread the word and showcase all the positive things happening here. We know there are problems but we are also seeing the solutions being built. It won't be done in a day but we have the people to get it there in the end.

13.08.2019 21:44

This is really great information which supports the feeling I get while engaging around the ecosystem as it seems like it is headed in the right direction. It may only be a core community, but the protocol is proving its capabilities and versatility!

14.08.2019 00:38

Wow....this information is well articulated @taskmaster4450, the statistics must have required more effort, positivity all through

14.08.2019 07:02

On the other hand...

These days, ordinary financial capital earns 2% at best and zero or even less than zero in developed economies. Owners of capital have a hard time finding any high-yield investment that isn’t a speculative gamble based on financialized leverage or debt.

This is why corporations are pouring trillions of dollars of capital into stock buybacks that generate no new goods and services: they can’t find any productive use for the capital, so they use buybacks to boost the value of their shares.

Outsized gains are now only available to the few with the skills and experience required to gamble high-risk assets successfully.


Do you think this humongous bulk of speculative money is gonna end up soon tossed only in gold, precious metals, stocks, bonds and many other worthless sheets made from the pulp of wood?

No, no, no, no!! ¡Hodl your Cryptos, Digital Tokens & Altcoins as if you were never to die! The next big din of the bubble is close to be heard.

Fasten your seatbelts and put on your helmets folks. Next station: ¡The Dark Side of The Moon!

14.08.2019 12:07

Agree on this one, crypto will be "the next big thing", we just need more patience.

19.08.2019 08:31

Yep! patience is key here. As much patience as we can hoard. :)

19.08.2019 09:24

Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!

14.08.2019 18:31

Hi @taskmaster4450!

Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.124 which ranks you at #287 across all Steem accounts.
Your rank has not changed in the last three days.

In our last Algorithmic Curation Round, consisting of 149 contributions, your post is ranked at #4.

Evaluation of your UA score:
  • You've built up a nice network.
  • The readers appreciate your great work!
  • Great user engagement! You rock!

Feel free to join our @steem-ua Discord server

15.08.2019 07:08

Seems like Ethereum is wildly popular among the developers, that's promising! Thanks for the info

15.08.2019 17:34

This is the type of high quality content and analysis that requires true rewards on STEEM. Very cool and good news for STEEM.

19.08.2019 17:01