Hardfork 20 Velocity (HF20) introduced a new approach to account creation for the Steem blockchain. The aims were to increase the rate of account creation and to delegate the process from Steemit Inc out to Steem users, in particular Steem dApps and communities.
The new account creation approach requires no fees. Instead "discounted accounts" are created by consuming a token, of which there are a limited amount, with the process limited by the Resource Credits cost of the process, which is high.
This approach to account creation takes place in two parts:
- Claiming an account (block transaction "claim_account"): A user claims an account for the future. This costs an amount of Resource Credits, determined by the market. Currently the amount of RC required is that attached to around 4000-5000 worth of Steem Power.
- Creating a claimed account (block transaction "create_claimed_account": Claimed accounts can be transformed into usable accounts at a later date. This can be for a new user or an existing user.
The Steem account of Steemit Inc still claims the highest number of accounts. However this process should change over time, with dApps taking a more significant role in onboarding new users.