Thank you so much @themarkymark. This is very useful information for a newbie like me. I spent almost a month to study Steem Blockchain and Steemit. Many concepts were clear by the end of the month but still there were many questions that remained unanswered. Few of them are answered today. But Still there are a lot many left.
Right now I am mostly curious about SMTs. I still don't understand why do we need them? And how they would work? If you could explain this with an example of real life application of SMTs, like you did in this post! That would be really great. Mega Cheers :-)
SMT is supposed to allow you to make your own tokens
I am afraid I am bothering you too much. But I am really curious to know about this!Thanks for the reply @themarkymark. But I fail to understand how it will help someone who wants to make their own token. Just a branding gimmick? Like "we live in the world of blockchain, let's make our own token" or it will have some real life value. I am still not able to digest the "usage"
I suggest reading the whitepaper.
https://smt.steem.io/