Each month I will be producing a report with details of New accounts created on STEEM. It has long been established that the account creation route via Steemit Inc has flaws, with delays, batch account creation and users never activating accounts once they have been created.
At one stage Steemit Inc acknowledged this problem and issued a post stating they have put in place measures to track every stage of the sign-up process, from first landing on the sign-up page to logging into their newly created accounts. However, we have seen no further information from Steemit Inc to see where the exact problem is.
HF20 implemented changes to account creation. These changes made is easier for others to create accounts using free account creation tokens. However, this process still requires delegation, so accounts have enough RCs to transact. There was also a change in accounts created with fees where by under the new system, the fee would be burnt. These changes allowing others to create accounts, although technically ready and rolled out, have yet to have a major impact on the volume of accounts being set up by Steemit Inc.
If you missed last months post you can check it out here
/@paulag/april-19-new-steem-account-report-1557401925881
Aim of Analysis
The aim of this analysis is:
• Establish how many new users registered
• Establish what % of accounts have posts and voted and are just wallet holders.
• See who is claiming account creation tokens
• Establish if delegation is been given to accounts so they can transact.
Repository
https://github.com/steemit/steem
Overview
May 18
Year to Date 2019
May 19
May 18 seen a continuation of the downturn which started earlier that year and we see that 48% of account never became active. If we look at all accounts set up in 2019, we can see this is running at about 47% for the year to date.
May 19 again shows Steemit Inc creating the bulk of new account, however in May 18 this was over 97% and is now down to almost 71%. This is a drop on previous months this year and I would have a concern that steemit inc are falling a little behind with accounts waiting creation.
Two interesting values I keep an eye on are the % about profile complete and the % of accounts with website on their profile. These values give an indication of the calibre of user. Those with intent of using the platform for a social purpose will have more tendency to complete their profile. The % of new accounts that have added a website or external link is consistent around 7%.
For clarification on the Account activity levels
• Fully active accounts have both posted and voted
• Not active accounts have not vote/posted or made a transfer
• Wallet users have not vote or posted but have made a transfer out from their account.
Last month I reported that the reduction in new accounts had bottomed out, however this month we see another reduction of around 30% on the previous month.
Activity Level by Creator
Taking the top 6 account creators, below we can compare the activity levels of the accounts created. @Oracle-d stands out with only 2% of accounts not active. @steemhunt has the largest % of inactive accounts and @blocktrades has the highest % of fully active accounts.
HF20 Changes
Under HF20 accounts can now be set up by either burning the STEEM and sending delegation so the accounts can transact, or they can be set up with discount account creation tokens where the fee is 0, however these accounts also seem to need delegation to transact.
97.85% of new accounts set up, were set up with the newly introduced account creation tokens. The balance, 227 accounts, were created by burning STEEM at 3 STEEM per account.
However, when accounts are set up, without delegation, there resource credits and voting mana need to be boosted so they can really transact on the block. So many new accounts have received delegation?
77% of accounts set up in May have received delegation. 23% have not.
Of this 75% of account that received delegation, just over 67% received 30K Vests which we can see in the pie chart below. And the balance received more.
The first table below shows the new accounts, who set them up and how much in delegation they received. The second table shows the people setting up accounts and how much in delegation they sent accounts that we set up.
The tables below show all the accounts set up in 2019. On the right, the table shows the number and % of accounts with an Owned SP grouping of 10. We can see that 97.23% of accounts own less than 10SP and 0.75% of accounts own between 10 and 20 SP.
The table on the left shows all accounts set up in 2019 and how much SP they control. Controlling SP is Owned SP + Received Delegations – Delegations given. We can see from this 47% of accounts have less than 10 SP
Account Creation Tokens (Year to date)
The introduction of account creation tokens in HF20 allows users claim the right to set up an account. In total 59K account creation tokens were claimed in April. Below shows who has been claiming these account creation tokens year to date. We can see Steemit Inc has claimed almost 17% of these, yet they have set up 83% of new accounts year to date.
Conclusion
2018 seen a down trend each month on the number of new accounts created. It was looking like this downtrend had bottomed, however the decline this month shows that we may not have seen the bottom yet.
On saying that, it appears that Steemit Inc may be sitting on a small backlog of accounts to create again. This assumption is based on previous figures whereby steemit inc were creating 80% of all accounts. This has reduced to 71% in May. Assuming all other account creators do not have a backlog, my workings would indicate steemit inc could have a backlog of about 4000 accounts. If I am right about this, then this month would not have seen such a downturn. Next month should tell more.
47% of accounts set up this year have less than 10 SP they control. We have seen that this causes RC problems and restrictions on accounts, however this value also ties in with the % of accounts that have not been active.
It is also alarming that only 2.5% of accounts set up this year have powered up 10SP or more.
The Data-source and Query
As always to produce this report I connect to Steemsql (paid subscription services held and managed by @arcange ) with Power BI. The SQL query used to gather the data for this report was:
Select *FROM Accounts (NOLOCK)where ( created >= CONVERT(datetime,'01/01/2019')To get details of who set up each account I used the following query
Select *FROM txAccountcreates (NOLOCK)where timestamp >= CONVERT(datetime,'01/01/2019')and to get details of accounts that used their wallets I used the following
select [from], timestampfrom TXTransferswhere timestamp >= CONVERT(datetime,'01/01/2019')The query used to find out who is claiming accounts was
Select *FROM TxAccountClaims (nolock)Once I loaded the data into Power BI, I then carried out transformation and calculations using DAX language.