Steem blockchain processes transactions faster than Ethereum and Bitcoin combined and is home to some disruptive technological apps : DTube (a video platform like Youtube) created by @heimindanger , Busy.org founded by @fabien & @ekitcho , ChainBB : created by @jesta , Zappl : developed under the guidance of @thedegensloth and Steemit Inc (and many more).
Most recently Ned Scott @ned : Steemit inc CEO introduced Smart Media Token (SMT) which is a Token Protocol for Content Websites, Applications, Online Communities and Guilds Seeking Funding, Monetization and User Growth . In fact,
SMTs will make it possible for anyone to have the power to launch and sell Proof-of Brain tokens, which are tokens distributed by “upvote” and “like”-based algorithms and can be integrated with websites to align incentives and spur growth, while websites are empowered to adopt sustainable, currency-centric revenue models. For more info please read the white paper.
This reminds me of what EOS is planning to do including the popular Ethereum’s ERC-20 token protocol which allows people to create and launch arbitrary token-and use Ether to fund it. However no protocol enables content businesses to leverage those tokens by aligning incentives between users and applications and that’s one of the qualities that will make SMT unique.
Moreover, according to @ned in his post SMT will
Increase demand for STEEM as the blockchain's bandwidth tokenAttract new capital to the ecosystem with ICOsTie up STEEM supply with Automated Market MakersCreate new utility for STEEM with Influence SharingBecome a big part of "Steem: the world's advertising network"
This will be a game changer and will positively influence the price and demand for steem as indicated by some steemians in their post examples @kingscrown , @dougkarr , @zeartul , @the-alien , @kevinwong , @exyle , @jerrybanfield , @firepower including @biophil : what it means for Pocket token .
Another important point to note:
- Community empowerment: this will empower many large and small communities to easily raise funds for their cause by making it possible for them to create fund raising tokens and reward their members who invested in them.
- Huge platform incentives: Reedit, Linkedin , twitter and New york times are some examples of firms that can create their own Token with huge potential to raise capital , monetize their websites- including members being able to upvote and get rewards via commenting just like in steemit- which will give them a more loyal member base.
What it means for steemit:
Steem is not planning to be EOS and Ethererum killer rather it will be a big competitor which is good for users because we will have more options in choosing the best blockchain for our entrepreneurial goals. Moreover, on implementation of HFork 20 plus SMT the demand for steem will rise drastically because steem will be used to purchase the tokens which in return will positively reflect on steem price and steemit member base.
Do you agree with the points raised here? Now is your turn to indicate what you think.Send in your comments and please would you up vote my post in order to send in your support, click follow in order to see future posts from me on your feed and resteem in order to share this post with your followers.
Pls see my former post including: What is the True Meaning of Freedom
For those who want to be an investor in Bitcoin wallet see X coins link: https://xcoins.io/investors?r=v93e2z
@originalworks
The @OriginalWorks bot has determined this post by @charles1 to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
Thanks
Hello Charles, thank you for the post. I saw @ned's video yesterday and I totally agree with you. The demand for Steem will increase by a lot. The opportunity for other projects and companies is insane. I hope that "money" will not kill Steem in the future but I'm excited for the future. Have a great day:)
Good point @justdentist am sure that all will be great after the implementation of the SMT and HFork 20....am sure that you are gradually growing your steem power in order to be all smiles by next year Isnt it?
We'll see. Steem price is going up and down the last couple of weeks. Doesn't want to burn any money but I would say that Steem is a way better long term holding than many many other coins. Are you all in on Steem?
You are right...steem is my number one choice for long term because bitcoin is too expensive. For now, am glad that the price is cheap so that we can gradually grow out steem power...however am sure that price will rise from middle of next year , so now is the time to gradually grow our steem
Thanks for you honest opinion👍🏻👏🏻
You are welcome @justdentist and more success to you
I totally agree with you.
You are one of my favorite blogger.
Thanks for sharing.
Keep the good work.
Upvoted for the great content.
Thanks a friend...you are welcome and I upvote all your posts to send in my support.
SMT is EOS and ETH killer! Since, EOS is ERC20 standard token, it run under ETH blockchain. Therefore, EOS never be a ETH killer but SMT does. More faster and agile!
It is hard to know what the future has in store, but I think you are confused. EOS is only run through the ERC20 until the token sale is over, after that it is all EOS
Will see because my EOS token now stored under my ETH address that makes me confuse. Whatever happen in the future I am so glad I boarded those trains.
Good point, that is what am thinking too
@blueorgy do you agree?
Hi @charles1, I see you have mentioned me.
This is automatic response so that I may respond to your mention later.
Great
Loved this post , great job my friend ! 100% up vote and resteemed ! Especially the demand for steem rising once HF 20 and SMT is implemented it will be great for steem price bringing in many more members ! Even though I don't fully understand it like many others ! Whats good for steemit is good for us all ! Thanks for sharing with us ! 👍👍👍
Good point 👍👍👍 I agree with you
Cool ! I agree with you as well !! Haha 😁👌👍✌
Great am glad that you are gradually growing your steem power in order to retire and buy your whole street by fall of next year isnt it?
😁👌👍✌
Haha ! Im hoping to build by May !! Its been a long time waiting now !! Come On Steem and Steemit show me the money !!! Hahahha !😂😂😂💲💲💲
Money monesy 😂😂😂💲💲💲 hahaha
This post has received a 4.33 % upvote from @booster thanks to: @charles1.
Thanks bot
Very good analysis of the new SMTs intro post by @ned
Very innovative and smart drive by Steemit C.E.O and i trust come next year we will be busy counting our gains..
Good pont, I agtee with you...thanks for your comment
Sure ..keep steeming hot
welcome
If SMT can actually integrate into say a wordpress website blog, that indeed will empower people to a high degree! This will steal market share from EOS, ETH and I think even STEEM
Good point am sure that the developers will take note ...the great thing is that steem will be used for transactions and thus will increase in value...a win win for us isnt it?
Thank you for your post.
It is an interesting move, it will be complementary to EOS. I hope it will attract more business.
I hope it will not reduce the effort on other parts of steemit that needs improvements: for instance GUI (nicer editor), group/forum, and other features.
I strongly believe in the platform, it will rise up.
Good point, i believe it will e a win win for all isnt it?
Yes, turbo charged steem ;)
Good point, hahaha ...I agree
Thanks for your post. It certainly simplifies SMT for me. At first i found the concept very confusing but now its much clearer. Now all I need to do is make more money so I can invest in STEEM. I can see STEEM growing a lot with the introduction of SMT
Good point @donnaincancun I agree. You have to increase your hype here..see my older posts for tips including this below link
https://steemit.com/steemit/@charles1/stop-whining-here-are-way-to-improve-your-earnings-on-steemit
I wish you success
The answer is NO.
Steem is a Distributed Application on a blockchain, while Ethereum and EOS are operating systems on blockchains.
Not direct competitors.
Good point however Steem,s SMT will be issuing tokens which will be bought with steem isnt it? EOS is planning to do the same and Ethereum is already doing so...isnt it? I see it as a solid win win for all of us investing in steem power
If steem is going to be the default currency used to buy/trade these other tokens then I can see the demand dynamic. Now I just need the patience to let it play out :-)
I agree with you...pls have patience and wait till next year fall and you will be all smiles...guess we all should be happy for the cheap price of steem (for now) in order to gradually grow our steem power isnt it?
yes! excited to see what is in store for us :)
The same here ...am sure that the future will be very bright if all goes according to plan isnt it?
votedss
Thanks and welcome..
Congratulations @charles1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThanks
Congratulations @charles1! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPThanks
nice post.. check my post
what is nice about the post ?
my photography..
or my eyes? ie profile picture
Great work great job.
I am too excited be the part of steemit family.
Best social website and earning site as well.
Good point, same here
"Steem: the world's advertising network"
WTF do you think that means please?
@originalworks
The @OriginalWorks bot has determined this post by @charles1 to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!
For more information, Click Here!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
Thanks bot
I could not ask when this first posted, but do you know how we will be able to purchase SMT's? Will we need to power down 9and if so would it be prudent to start and accumulate SBD or STEEM for it's release? Or will it be totally different is scope, like direct trade or token base as your Steempower?
I think that it will be released early or mid next year and just like any other token, you can use your steem or SBD to purchase it. There is still time I guess however it will make steem price very high