SMT's have been postponed over and over and there is currently no ETA (besides '2019').
Instead of complaining, sulking, pointing fingers in a dangerous manner and whatnot some members of Steem decided to just go after this noble goal themselves and build their own token systems.
That is cool.
@fulltimegeek is working on Vaporchain and @yabapmatt and @harpagon (and @aggroed) are working on Steem Engine.
This last system is now coming to life for real.
Check this out: https://steem-engine.com/
I don't mean this screenshot, really go to the site and have a proper read, it's worth your time.
Yes, you read that right.
For about 100 STEEM anyone will be able to create their own token on Steem engine and that's just the beginning for what they have planned for it.
Now, as far as I understand it Steem Engine is a side-chain of Steem.
You communicate with this side-chain by sending transactions on the Steem Blockchain.
From the FAQ:
I don't know 100% whether side-chains are good or bad (I read different opinions), and to be honest it doesn't even matter if I had an opinion about it or not.
For me, I just see Steem Engine as another 'business' on Steem that is facilitating a need that is currently lacking on the blockchain. Whether they are successful depends completely on the willingness of others to buy/use and invest in them. Just like any other business in life.
Of course because this is the same team behind @steemmonsters they know how to monetize their hard work too by introducing their own token called ENG.
You will need ENG tokens to create tokens on Steem Engine. Currently you can buy ENG tokens for 1 STEEM each.
Very smart! Well deserved guys.
I bought my first 100 ENG as a test and it worked fine.
I then made my own Token called EXYLE as a test!
But there is more!
Hello: https://freedomex.io/
An exchange is being build by another party to work together with Steem engine and they are currently in talks with Netcoins team for Fiat Entry points.
From the discord:
Freedomex team had another meeting today with the Netcoins team. We are close to finalizing our partnership that will give us fiat deposit/withdrawal capability with steem/usd steem/can steem/eur.
Yeah, you can say today is pretty a good day for Steem.
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Please consider us for your witness vote if you think we deserve it here:
Vote for @blockbrothers via SteemConnect
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Get it Here:
scratching my head cause this is too good to be true...
so you mean to tell me, some savvy entrepreneurs figured out this smt thing and instead of waiting for steemit inc....built something themselves???
i love this place!!!!!
Posted using Partiko iOS
You got that right. Tokens on the Steem blockchain.
I'm sending you 10 EXYLE. Let me know if they are in your wallet on Steem-engine.
ha ha so awesome. i sent ya some brand new issued SAVVY tokens as well ;) lol
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Cool got them!
ha ha ha ha absolutely brilliant. got them.
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wake me up when we r a household name 😆
@exyle, that's some great news. The information about the Steem Engine sounds great!
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Guess I'd better think of some name for my tokens!
And some uses!
What a great initiative!
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Haha good luck! I send you 10 EXYLE :)
fuck! I think Ill just transfer steem soon then and play along! :) Would like to hear what you came up with!
supercool. Cant wait to see what people do with this new-founded awesomeness!
This news is Bonerrifick!!
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I know! I have send you 10 EXYLE tokens!
Thanks fam 🙏 your too good!!
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You have also named a very excellent token!!
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What happens when the Steem-engine server crash?
Also how do you read the smart contracts? Are they immutable in a trust-less way?
Hey man, I would suggest you join https://discordapp.com/invite/xWRYB9s and asked there.
I don't want to break the party, but these questions are essentials. The way I understand it is @steemsc is a third-party bank that you need to trust.
I might be wrong but smart contracts should be published on the blockchain as well. At the moment it doesn't look like it: https://steemd.com/@steemsc
One more red flag: why should I send 100 STEEM to @steemsc account owners instead of @null ?
A proof-of-burn would be a great idea if they had some other way of generating revenue to run their infrastructure.
For that matter, why not compete with Steem Monsters in the same way? Want booster packs of the Steem Monsters clone? Burn your SBD.
There's nothing stopping anyone from launching their own Steem Engine clone that uses proof-of-burn. Competition makes everything better.
Update: I still stand behind what I said above, but your "red flag" actually seems to have some relevance. I just ran across this: "The fees collected by this system will probably be burnt. (but I'll make a separate post to talk about that once it's ready)"
https://steemit.com/steemsmartcontracts/@harpagon/steem-smart-contracts-ssc-token-block-production-rewards-proposal-system
That post was from before we were working with harpagon on the steem engine project. Nevertheless, it is currently the case that the ENG spent as fees to create tokens are burned.
The fact that we are selling the ENG as our initial distribution method is no different than any project that initially sells their tokens as a way to fund development.
I agree. I guess I just don't understand the objection.
You are asking me things I don't know the answer to. That's why I suggested you go to discord and ask there where the engineers of this project are.
I just want you to be aware that if we need to trust @steemsc account, then we can just wait for the real SMT instead.
Vaporchains from @fulltimegeek where much more transparent. Unfortunately he stopped working on it.
Only temporarily ...
I appreciate you bringing this topic up because it motivates me to push forward.
What I've been doing in the meantime was changing how my fulltimebots operate by rewarding comments a lot more than blogs. This should encourage engagement on the blockchain. Keeping real humans on here should be our priority #1 ... without that, it doesn't matter what we do.
Totally agree !! I recently started an Initiative called DtubeRockers. Where I Discover, Spotlight. and Reward Steemians who Rock on Dtube with an emphasis on Engagement and High Quality Commenting :)
A lot of people are secretly waiting for vaporchains.
You don't need to trust the @steemsc account for anything. All it is is the initial distribution mechanism for the ENG token and a way to raise funds to support the development of the project.
All of the code, including the existing smart contracts, are open source and available for anyone to run and independently verify.
I'm excited to hear about freedomex.io! Also, the prospects are bright for things that can be built on top of that exchange - ecommerce wise. Exciting times indeed!
This is a lot of beautiful news floating under my nose.
@exyle May I have some of your token as well. I am going to have my account over steem engine.
Posted using Partiko iOS
I think it is awesome that people are taking this upon themselves. My biggest question is what happens when the powers that be are ready to do their own SMT's finally? Do you see them just giving up on it if there is already a viable solution or do you think they will still move forward with a competing project that could eventually snuff out this one?
I'm assuming they will just continue development. There is room for competition. SMT's directly on the chain might be something people would prefer.
Thanks for the input!
momentum for me is momentum. great to see people pick up the batons.
Quoting from the Steem Engine Homepage:
These guys are killing me! :D
And I thought January was a pretty good month for Steem, drama aside...
Posted using Steeve, an AI-powered Steem interface
this is exactly what steem needs, to stretch out far and wide. cast that net of 'look what's being built over here' -- this is real progress.
You got that right! This is awesome progress. I have send you 10 EXYLE tokens! Let me know if they are in your wallet on Steem-engine.
yep, i got them! thanks buddy! :) -- sweet!
So for 100 steem you get 100 ENG, and as long as you hold 100 eng, you can create a token? or you can create as many different tokens as you want?
You can create a token and it will burn the 100 ENG.
I have send you 10EXYLE tokens so you can see what it looks like.
More and more people stepping up to the plate and taking on different aspects of development to help STEEM become more vibrant and attractive to more people is very exciting indeed, @exyle.
It sounds like there are plenty of positive things about smart contracts and side chains, as well as potential downsides. Life is like that, so no surprises there.
The ability to create tokens is rather lost on me—seems like there's more likely a chance of it being worthless than it not—but I'm more than willing to watch that all unfold and see where it ultimately leads.
However, buying STEEM with fiat directly is an amazing development, and if that can happen without costing an arm and a leg, woohoo! That for me is the shot in the arm STEEM needs. Guess we'll know more when that's all available, too. Good to hear about the progress regardless. :)
Great news is nice to hear in this winter bear market!
It sure is! I send you 10 EXYLE.
You guys and the Stratos team are the salvation for this blockchain.
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Not me, the @steemmonsters team and Stratos as well. They are doing great work.
Hahahaha. My bad. Congratulations anyway.
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cool can you send me one of your tokens please
Ofcourse! I send you 10 EXYLE.
Cool balance says 10 EXYLE. how fast are they, what are the worth.hope their not a shit coin when lambo? lol
LOL! They should be worth millions in my mind as soon as the market is build we all be rich.
But realistically they are probably worthless but as a test token and see how they work and for people to try, there is value there I guess :)
Amazing!... this can really boost all this echosystem finally. I'm with all the other comments, I've no enough words to thank them.
Thanks so much for giving great news :)
That'll be an awesome move. FIAT/STEEM exchange is the way out. We all can clone such gestures with our nationals. I have a plan. Meanwhile, I think ensuring a USDC/STEEM will be a good option.
Great!
Looks great. I saw this video this morning. I don't think he knows everything that's happening with Steem. I don't like his proposal, please leave some comments
Edit, never mind, let the people that don't like Steem do their stuff, I'll try to ignore them
Who cares. Why are you putting this on blog as a reply? Another Steem is shit post/video. Seen/heard it all before a million times.
I just shared some awesome news. That's what I recommend you focus on. Development on STEEM.
I just thought its worth having some comments on there from people that don't think Steem is shit. What's wrong with that? I put a link to Steem Engine in the comments. I think its good to spread positive news, rather than let the FUD go unchallenged.
Went for a walk and thought about it. I'll remove the link. This is your blog and I shouldn't of posted this here, sorry.
No problem, man! Stay positive!
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Thank you so much for participating 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!
Awsome. This will be a good thing
That is pretty dang cool.
I have the feeling that @yabapmatt might be some sort of genius.
Alpha Tokens!!!
It is better to have a real SMT integrated on the Steem with a DEX. This solution is like a blaster. ;)
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Dayum we got some steeming good news going on!
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So will these tokens be like ERC20 tokens on Ethereum Or Counterparty tokens just based on the Steem Blockchain?
This is great news. Steem is going places. At last
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That will be epic to start off with
This is by far the news I heard for Steem's future. I am glad I just doubled my account size :)
Wow, so much development, that was not aware... I must be living under a rock!
I´ve hear about Steem Engine, but they are much more developed than I was expecting. And I love the idea of Freedomex, and what a cool name :D
A fiat exit would be splendid.
I heard about this on discord yesterday. This is exciting news. I am loving how the community is making advances and not just relying on one entity to make things happen.
Again two great projects based on the steem-blackchain - that's we need!
Thanks for bringing this to our attention.
This is outstanding! I can’t wait to buy some Steem with some Fiat!!
Posted using Partiko iOS
Steem these days is like the boiling soup - bubbles, colours, flavours, movement... Really inspiring! Great news!
NiiiiiiiiiiCE!!!!!!
Wow dude, big news indeed. Might go buy me some mo steem! 100% upvote.
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Very exciting news and times for the Steem Ecosystem!
I just promoted Steem Engine to @steemhunt, because they were asking for an exchange solution for their HUNT Token.
EXYLE Tokens nice, please send me some :-)
Hello
This great. I love your statement “ instead of complaining about something the blockchain lacks they made it. “.
I think this post is full of great news!
I will check it out and see what uses I could come up with for my own coin. 😊
This is great progress in seeking to progress the economy of the ecosystem! The ability to expand tokens across the community provides a great way to continue developing projects and fund initiatives that will create value! The EXYLE will surely be worth an interesting amount given the value you bring to the community!
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This is insane! A tokenized world...What will they think of next???
This is amazing news! Imma hafta start the learning curve on this development directly.
Thanks!
Ive been waiting for the SMT believe it will grow the ecosystem to have different tokens and to be able to trade them on a dex. Im glad someone is taking the initiative. Awesome job guys.
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I think this is THE best time to make and give out blockbros, the best token if you ask me..... but the exyles are cool too......
@exyle, Wow, after sometime, this is awesome news to hear. If we keep failure or success aspect aside, this step and actions are really appreciable. Let's feel the change and be part of the change. Stay blessed and thank you so much for letting us know about this.
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Congratulations @exyle!
Your post was mentioned in the Steem Hit Parade in the following category:
This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.
Editor of the The State of Steem SoS Daily News.
Promoter of The State of Steem SoS Weekly Forums.
Editor of the weekly listing of steem radio shows, podcasts & social broadcasts.
Founder of the A Dollar A Day charitable giving project.
These 2 very Important Links:
and none of the links in the lower part work, on:
At least they did not work for me using chrome browser. So hard to check them out and verify information.
Thanks for the information and link I just signed up :)
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That are awesome news.
Full 100% and resteemed :-)