Review article on latest update about smart media contract token project

[steemfirst]

As i was trying to find out what could have been the reason behind the delay in the induction of smart media token in steem blockchain . I got to find out that the members of the steem team are not folding their hands but seriously working on it . And this quest led me to the recent post put up by @steemitblog where i found out that they are looking for the best among different idea on how smart media token will be distributed following the shortcomings in steem distribution . Because , steem was not design initially to function 1 steem one vote which many have suggested to be implemented in steem distribution .An attempt to adopt this principle on steem distribution will lead to multiple accounts creation which in turns has its own side effect in steem ecosystem and this is the reason why the idea was not implemented. There was another suggestion to make steem work under the principle of one account one vote but because of its shortcoming such as self voting and whale to whale collude in terms of voting which will interfere with the original intent of @ned in creating steemit which is reward quality contents and at the same time giving it a maximum public exposure. This fight to abolish this shortcomings in steem distribution where large token holders earn more and at the same time determine the way steem is distributed instead of quality content has led to suggestion in designing smart media token to work in superlinear curve .
Smart media contract token is being design to work under the principle of superlinear curve guided by oracle to make sure that only individual with one account will be rewarded with a particular SMTs if it was in the list submitted in the whitelist of such SMTs . we hope that if smart media contract token work by this principle with aid of oracle of each SMTs will fix the shortcomings in steem distribution thereby restoring the original intent of @ned which is curating the quality contents and giving it a maximum public exposure.

In conclusion, Smart media contract token has the potential to enhance the reward of high quality contents and increasing its public exposure . And this is what all people are looking foward to see in steem blockchain technology . This is the reason i stood ground that smart media contract token remains a great future hope on improving steem blockchain in no distant time.

Thanks

to @surpassinggoogle,@hr1, @eurogee in @euronation , @arcange . Thanks to all steemians for your incessant support and endorsement. I still remain your boy

@steemfirst

Comments

[iobates]

Great post, I only just skimmed but yes it seems there would be problems with one account one vote.