Sorry for my noob question, but what is an SMT? I keep seeing that acronym but it is never explained. Sorry
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Sorry for my noob question, but what is an SMT? I keep seeing that acronym but it is never explained. Sorry
Smart Media Tokens
They were designed to work on the steem blockchain. Basically they allow any site, whether large or small, to create their own currency to monetize their site. While many of the bigger players have the money and time to do it on their own, many blogs out there do not.
Basically it is taken the curation/posting rewards system (proof of brain) and giving it to anyone who wants it. This all goes on the steem blockchain and, it is expected, many entities will initially purchase steem to give their tokens immediate value.
To me, this is a concept that could really drive a ton of traffic to the steem blockchain and, ultimately, to the other apps on here.
Vice.org recently announced they are using SMT to develop their own token. I wrote an article about this...you might want to check it out. It is the first major entry into the space when you look at who the content creators are.
Ah, thanks for the explanation. Will read your article. It's all beginning to make some sense to me now... I think.