The possibility for steem go mainstream is very high as the chief executive officer (CEO) of steemit, Ned Scott, @ned just announced the release of the 50 paged - Smart Media Tokens (SMT) whitepaper.
What Are Smart Media Tokens?
- A Smart Media Token (SMT) is a native digital asset on the Steem blockchain that can be quickly launched by anyone to help monetize online content and create incentives to encourage desired user behavior.
- They're like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses.
Source: https://smt.steem.io/
Perusing the content of the SMT whitepaper, I see that this is just the opportunity many of us have been waiting for. Smart Media Tokens (SMT) could be the killer of Ethereum's ERC-20 tokens, when it would be launched in 2018. This is my own thinking, so don't take my word for it. Please, read examples of the use cases here and the whitepaper. If you are wondering what ''proof of brain'' means, read page 1 of the steemit bluepaper to grasp the concept.
Watch the video @ned has asked us to share from @jerrybanfield's youtube channel
<iframe width="560" height="315" src="
frameborder="0" allowfullscreen></iframe>Note: I have only perused the SMT whitepaper. Hopefully, I will find time during the weekend to read the document, so that I can commend, criticize and ask questions for clarification and better understanding of the new protocol. Steem to the moon!
Sources of content that are not mine have been properly linked in their order; image 1 , video 2. The beautiful customized divider was designed for me by @outhori5ed and the badge by @jodipamungkas.
What are your thoughts on the announcement of smart media tokens (SMT)? Please, share in the reply and comments section. I would like to hear from you.
Follow @maryfavour & @redfishpillar
RESTEEM***UPVOTE***COMMENT
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.
Absolutely, your explanation helps, @bbomber. I think there was a mix-up in your first paragraph. Actually, a bunch of SMTs will be created on top of steem. I really appreciate your taking time out to explain this complex SMT idea. Thank you.
Great time to be on steemit! Thanks so much for this update!! @maryfavour I have listed you and @tojukaka in my latest post to be a judge for a poetry contest coming up tomorrow to mark and celebrate Nigeria's Independence Day! Pls, I urge you to accept my humble request and comment on the the post stating you've accepted! I don't want to spam your post, but would drop the link to the post here if you ask me to! Thanks.
Believe it or not, @prechi, I just read this comments on my blog. I'm really sorry. There is so much to do with very little time to respond to the many comments that trail my blog after posting. This is seen now, because I have the habit of visiting my 6 day old post, 12 hours to payout time to show some love to those whose comments are of value. I saw that post on independence day, curated and reblogged it. The content was good and quite engaging. Please, when next you have an urgent information for me, find me on discord or steemit.chat . Cheers.
Thank you @maryfavour for this succinct and surgical revelation.
I've been so busy, I've not had time to go through the paper but this gives me extra motivation and a headstart. Everyone is so excited about this topic now...
It's my pleasure, @tojukaka. Yes, I know that you've been so busy. I see what you guys are doing in @airhawk-project. Bravo!!! Do your best to go through the SMT whitepaper, because it will do you a whole lot of good for your conceived Steem/Naira exchange project. Cheers.
Well it is not something that one would read in few mins and digest the whole information there.
But i am really glad for this introduction and information.
If it will please you ma, the comment tread should be kept alive. That way one could share his opinion when read fully.
Thanks for the share.
The introduction is very important, like you stated. It is meant to create awareness. I understand your concern, @gunneresq. To be very honest with you, if I was responding to every single comment, it would be impossible for me to create new content. Remember, I manage two blogs, @maryfavour and @redfishpillar. Secondly, I am a PhD research student, who need to do lots of reading and writing. Thirdly, there is no one to help out, so I am alone doing all these things you see. Fourthly, after 7 days, it might be difficult for me to go back to this very blog. We have from now until 7 days to leave all our comments and I'll do my best, to respond to as many as I can, as long as time permits me. Thanks for your comment and concern. I really appreciate it. Cheers.
I just read the SMT whitepaper, and i must say the whole technical language on the paper is almost hard to comprehend in first read.
However, alot have simplified the processes, and @ned went further to explain it better on his blog yesterday. I noticed too that the blue paper released before now had some pre-prompt notice about the smt.
We are looking at the future of blogging and rewards for contents. We are looking are the steem blockchain being on the same par with the bitcoins in a few years. yhis is big indeed.
That is true, @gunneresq. The SMT whitepaper is very technical. Yes, I've been following @ned and discussions from other witnesses and entrepreneurs, who are really interested in creating their own SMT tokens . Personally, I am interested in creating my SMT to give incentives to those who add value to by business(es). Meanwhile, a user case of an SMT type token is The Bulld Token formed by @buildteam . This is the buildteam website .
Aii ma, I understand your stress and concern. Thanks alot. You are appreciated.
Hello,, @marygavour, its breaking news for steeem community, much thankful to you for sharing in very detail about "smart media token" very helpful and useful software, i think mostly steamers are much excited after knowing about that..
FoLloweD
Hi, @rebeel. It's my pleasure to share the good news of smart media token (SMT). Thanks for the follow and enjoy the steemit ride!
Huge step forward this is awesome :) thanks for the update
You can say that again, @blazing! Cheers.
This is an awesome news, although i am bad with Crypto news on tokens and all.. But i believe this is a good move..
Try to read the SMT whitepaper, my dear, @sweetestglo-eu. Besides, you can follow discussions around the SMT token, by using the tag, #smt, I think. It would do you a whole lot of good. Steem on!
Okay ma'am... Better🙈
Resteemed
Oh thanks, @eurogee. Much appreciated.
what an evolution! this is very good news!
I went through @ned's post earlier today about the SMT and if I may say @maryfavour, this SMT is going to be massive and awesome.
Yes, it will be. Build team tokens created by @buildteam is a classic example of an SMT token. Visit their website, https://buildteam.io/ . The team is run by witness @thecryptodrive.
Beautiful info
Nice video. Have thought. They are right. Thank you for sharing with us
That's a great info, it will really helpful to our steemit community.
Yes it will, @piyushkansal. Cheers.
I have just shared this information on my new twitter page
All this crypto news are like jargons to me but since you said it's a good news and its coming from the CEO himself, I will take your word for it. Please if you are through digesting the white paper, help us break it down. Lol... Thanks. Upvoted and resteemed
I understand it when you say that crypto news are like jargons. It's a little tough to comprehend , especially if have not taken time to educate yourself about them.
Your request is granted, meanwhile read my reply to @bat-junior's comment and that of @gunneresq as well. I hope to keep updating us on this. Steem on!
Glad to be here at this time! All thanks @tojukaka and @phait for introducing me to steemit, what a great company!
Yes, @danield. I think you really need to be very grateful to them for introducing you to steemit . We are still among the early adopters. Enjoy the steemit ride.
Wow. An interesting discussion, and also good information. I liked that
SMT whitepaper nice .
Hmmm, interesting.
Realy big potential if other systems wil start using this. The sky is the limit.
The potential is massive, @zoef. Already there are use cases . Check out what @buildteam is doing on their website.
What your problem
I have no problem, @riponsk. Understand the fact that you are spamming blog pages. I saw your spam comment please vote me on @gunneresq's blog page. Every spam comment I see here would be downvoted. Spammers are not welcome in steemit. Only those who have valuable contributions are. If you push this further, I would invite @pfunk, @stellabelle, @patrice, @steemcleaners, @spaminator and @sadkitten to take care of your spam comments.
Your vote negative to pagetive did you understand. Comesoon