It's a game changer.
A couple of hours back, steemit's CEO Ned Scott published some breaking news, announcing the launch of Smart Media Tokens.
The corresponding Whitepaper is 61 pages long and quite technical, however only by reading the first 12 pages you get an idea of the vision which is absolutely groundbreaking.
There is this saying that the value of an idea lies in the using of it. With SMT the idea of steemit will be applicable to multiple networks, channels, blogs, websites, forums.
Now Steem(it) will defininitely become the prototype of social media in the new world!
Smart Media Tokens - A connecting game changer
Imagine that you were running a standard blogger's network where users are able to share, like and comment content.
Then the SMT would enable you now to equip your network with a decentralized eco-system like the one you know from steemit.com, aiming to reward both the created content (bloggers) and the attention paid to that content (audience) within your network.
What a great chance - both for network providers and users!
These Smart Media Tokens (which can be imagined as "customizable social coins") enable media to back their channels with real, countable, monetary value. So the idea of giving the value back to content creators can be spread all over the internet then!
SMT is a Steem blockchain based protocol which you may imagine as a connector between your application (network, website, blog, etc.) and the ones who are supposed to use it (bloggers, vloggers, followers, etc.).
It's like a puzzle piece that can provide any (social) application with an autonomous eco-system.
I bet many many already existing applications will be interested in using this protocol. It will be exciting to see who jumps on the train first.
Any media application can become smart and social now, growing by tokenized incentive communication - that's groundbreaking!
Attention is the no. 1 currency in today's economy.
Steemit perfectly responded to that trend, being a prototype for tokenized social media, giving the reward back to the ones who actually push the value into the network: the storytellers, committed followers, curators, the content lovers.
Enabling other platforms to create their own "social tokens" now and to somehow "copy" the masterpiece, is like the smartest logical consequence.
Congratulations @ned & team! You're doing a terrific job!
I bet we're all looking forward to hearing more about it at Steemfest2.
Best, Marly -
Thanks for your valuable time!
This blog was launched at the end of July 2016
aiming to provide interesting stories for open-minded
people who enjoy living on the edge of their lives,
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Welcome to the too-much-energy-blog!
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HA! you got as excited as me. how weird. we both posted at pretty much the same time. you totally got it locked down. damn exciting! :)
Haha, I bet #SMT will become THE trending tag today :-) Will jump over to yours right now!
no doubt! :)
Yep, the hype is here, now lets see the price of steem go throught the roof!
Haha, I was just chatting with another steemian and we were talking about the exact same thing. I said: "2 dollars by middle of October." Fingers are crossed :-)
Even more, without a problem. Hype is a strong tool in crypto :)
Sounds like a bet? :-))
lol, I don't bet, just invest. The little I got at the moment :/
Too sad, haha
Hrmm ... coming soon. the MarlyToken.
Ha, got me. I'd really love to create a 'surfers token'! :-)
For Bitcoin, it can be broken down into a Satoshi.
For a SurfCoin, I think the base unit would be a wave, the sub-units would be called ripples. And of course, anyone with a LOT of waves would be a whale. :-)
There has to be some connection to your roots. :-)
Sounds like a plan to me!
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.
Yes, this helps a lot to understand it even better! Thank you :-)
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!!
hey Marly, Nice recap
the only thing I worry about is the Kardashians jumping on this and tokenising themselves to become role models out there for all to follow
Thanks surfer! :-)
LOL - I'd love to see them talking about cryptocurrencies actually. That would be huge fun :-D
This is really exciting news-- SO many possibilities, and I also think this is precisely the kind of "shot in the arm" we needed, after a few months of not much happening... certainly the markets are responding favorably!
I was reading a piece yesterday about @ned and @andrarchy suddenly showing up at a Steemit Meetup in Austin, TX... and found myself wondering "why would they do that?" Here's our reason... media tour.
So... are we gonna have "SurfCoins?"
You're absolutely right. That announcement came just at the perfect point of time!
And of course we will have SurfCoins in the future - what a cool chance :-)
Well great to see some new improvement, need to read the whitepapere when I get some free time. so basically steem will be a smart contract token now ? or is SMT a total new token?
Absolutely. SMT is the customizable protocol.
Awesome! Will check it out ! Thanks for posting.
You whould thank Ned, I just resteemed the idea :-)
oh,yes,coming soon. the MarlyToken.
upvoted
Haha, that would be fun :-)
Thanks for your support!
I think this will be good, but too much to understand with my cold right now. I am glad to see you endorse it.
You just need to read the first 12 pages of the whitepaper to get the big picture :-)
Get well soon!
thank you, my friend
You are so excited for this... Keep going you rock @surfermarly!!
This is indeed a game changer
Totally!
This is exciting, I can't wait to dig some more and also to see it.
Indeed a game changer @surfermarly
and.........while you has been got excited. i still got confused what is it. i dont read it yet anyway pffffttt~
sixty one page
Read the first 12 pages and you'll get the big picture ;-) You don't need to read the whole paper to understand what it's about.
The big game changer it is going to be looks promising thanks for the update :)
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