RE: LOVING The Idea Of "Smart Media Tokens" 🥇🥇🥇 Steemit Becoming THE Prototype Of Tokenized Social Media

[bbomber]

An SMT will be traded through STEEM, so we won't have a bunch of SMTs and STEEM just one of them. We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.

Also, the SMT generation mechanism is way more complex than just a token issuance on the Ethereum platform. When you launch an SMT, you literally launch a thin layer of Steem-application-processes on top of your content, including your own rewards pool, your own inflation model, your own voting and curation algorithms and your own vesting mechanism.

Hope this helps.

Comments

[surfermarly]

Yes, this helps a lot to understand it even better! Thank you :-)

We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.

So what I deduced from the Whitepaper was that SMTs will all be built on the Steem blockchain - like being the Steem blockchain the mothership and the SMTs their satelites.

Steem price +18% - seems that the market is already reacting :)

Thanks for your valuable addings! Have a great weekend!!