When will the SMT arrive?
SMTs are the "merchandise" most anticipated by STEEM users and some outside the ecosystem, since its launch was announced a positive atmosphere has been created around these Tokens, generating great expectation in users, whether due to the impact positive that is expected to cause the price of STEEM or the functionality and use that the tokens will have.
Although the date for the launch has not yet been published, it is expected that this year the HF will be carried out, which will start with this new generation of token that will have as a platform the STEEM Blockchain.
According to this recent publication of @arcange, SteemSQL - Database updated and ready for SMTs everything is getting ready for launch, so it is possible that very soon we will see the launch of this token system and here we want to refresh you a bit what SMTs are.
What are SMTs?
To find a definition of what SMT Token means we refer to the definition found in the whitepaper of the project that defines them as follows:
"Smart Media Tokens (SMTs) A Token Protocol for Content Websites, Applications, OnlineCommunities and Guilds Seeking Funding, Monetization andUser Growth."
A simple and very practical definition that may sound ambiguous, however, we can understand that it is a great opportunity for entrepreneurs and people who want to monetize the website of their business, creating a token to reward users who interact on your site through a likes and votes algorithm that will reward content and comments.
Easy and practical.
With SMT anyone can create and market their token, which will be distributed by a protocol called "Proof-of-Brain".
These tokens have a similar nature to the ERC-20, in that it allows the creation of tokens to be used on different websites, but according to whitepaper no other protocol offers you the advantages in terms of transaction speed that the STEEM blockchain offers, a platform where SMTs are based.
"none of these protocols could ever provide an acceptable user experience for content websites, such as Twitter, Reddit (even subreddits) or The New York Times."
In trial period.
The SMT tokens and are being successfully tested on STEEM interfaces like busy.org, DSound, DTube,
platforms where users have shared content, music and videos, receiving reward for the votes obtained and setting everything necessary for the launch of this system.
"SMTs are a breakthrough for bridging the world’s content applications to tokens in a way that aligns incentives between the users of a network and the entrepreneurs building the applications."
Advantages of the STEEM blockchain.
It is said that the steem chain is the one that allows greater speed in transactions, this is measured by the number of transactions that the blockchain registers in 24 hours, according to the site Blocktivity, STEEM has registered up to 1.3 million transactions in 24 hours, positioning itself as one of the fastest blockchain, which is very beneficial for the implementation of SMT.
In conclusion, SMTs are the most anticipated piece of cake of the STEEM chain users, but they do not finish appearing, it is expected that this year the creation, use and commercialization of the token will be implemented to see the impact it will cause both in prices and in the implementation on different websites.
We cannot know for sure what the future holds for us, whether SMT will succeed or not, we must wait and ask because everything is a success.
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Let me know what opinion you have about SMT. What impact can they cause on STEEM? Are we facing an event that catapults Steem to the top?
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Time to bring good news to Steem. Something what moves really strong the price.
Hello dear @deathcross, thanks for your comment.
Totally agree, I am optimistic that we are on track and steem is on the way to being one of the main blockchain in the world.
Thanks friend!
This whole thing sounds very promising.
I had heard that the Steem blockchain was fast, but I didn't know how much, thanks for the tip.
I am wondering if the implementation of this possibility of generating your own tokens can favor the blockchain and you will see a result similar to what happened with Etherum and its ERC-20
Hello dear teacher @pedrobrito2004, thanks for being here.
Yes, that is really interesting and a great advantage for this blockchain, I am optimistic that things will improve in terms of price, hopefully the SMT can give you a boost.
Take care
@tipu curate
Upvoted 👌 (Mana: 10/20 - need recharge?)
It is good news that SMTs are coming and they look promising. My point is will SMTs be any different from steem-engine tokens? Most steem-engine tokens have their own interface and actifit has it's own website.
Furthermore, what happens to steem-engine project and tokens when SMTs are born?
Technically, Steem engine is a side chain on Steem blockchain, SMT's are built on the main chain. Though they might be similar in function, that is, powering websites, Steem Engine SCOTS will be more flexible.
It will eventually be a matter of choice, SCOTs and SMTs can co-exist.
If you look at what is happening on Steem engine, there is the ability for tokens to be interopeable with other blockchains, e.g DEC can be converted to ERC20 tokens, Weedcash can be converted into EOS tokens...etc.
Though controversies exist that Steem engine is not as decentralized as SMTs will be because it is a sidechain, while there maybe truths to that, Steem engine is still trying to achieve full decentralization.
Again it will be a matter of choice. Eventually Steem engine plans to also make SCOTs interopeable with SMT's.
Personally I don't think SMTs will threaten the existence of SCOTs.
Lastly, Steem engine is much bigger than just powering websites, through Steem engine, NFTs now exists on steem blockchain. We are yet to see the capabilities of SmTs beyond powering websites....steem engine is way above the curve in development, execution and flexibility.
Hi @gbenga, thanks for the comment.
Very good question, honestly I would not know how to answer, but I suppose that with the arrival of the SMT the options multiply, all these projects will continue their course excelling the most successful, that is my opinion, as it has happened with so many independent cryptographic projects.
A clear example is steem, with all the advantages it offers you have to constantly fight to stay afloat.
Dear @fucho80
I'm also very curious when will SMT arrive. Few days ago I've learned about new steem-engine (which is apparently in it's beta phase) - did you know about it?
I've been wondering, what will be main difference between SMTs and SE (from user point of few) and I'm not sure if there will be many differences that would really matter.
I was already told that in order to purchase or sell SMT - one would still need to have his own account on STEEM blockchain. That first buyer will still need to purchase STEEM and only then trade it to SMT. Which means, that price of our tokens will still depend on price of STEEM. Any idea if it's true?
Interesting read. upvoted already,
Yours, Piotr
Hi @crypto.piotr.
I had no idea about this. Regarding whether there will be a difference with the SE tokens, I think we should wait even now, it is possible that SMTs will be adopted and implemented by more people outside this chain.
You know that in this medium there is a lot of speculation and we must wait for the development of everything to be sure.
Hi @fucho80
I think that this will be of great benefit to everyone in the future, I believe in steemit but I also believe more in people even though some people only do harm - and that drives the new ones away.
But in terms of economy, stabilization and improvements to give impetus to our platform, I know it will be of great benefit to all.
However, there is still much to know more about it. Can you tell me if you sometimes use any of these like busy.org, DSound, DTube.
And if you use them as is your experience with them.
I am cincero I find it hard to leave Steemit, to publish from another application of this chain
Hello friend @lanzjoseg.
That is what we all expect, that each development, each advance and innovation within the chain improves things here, both in terms of functioning, as in prices.
Honestly not, I mostly use steemit.com, one due to resource limitations, due to time and ease.