How The 1UP Smart Media Token Economy Will Work And Be Profitable
View this post on Hive: How The 1UP Smart Media Token Economy Will Work And Be Profitable
I have moved all my content away from the now centralized and controlled Steem blockchain to the decentralized Hive blockchain.
Interesting. You are talking about delegators and delegations. Yet, I don't see it explained. Can you please tell me more about this aspect of the system? Thanks.
Sure: Delegating is the process of lending your Steem Power to another account. This happens on blockchain level and can be done with Vessel, Steem-Plus and eSteem Surfer. Steemit does not have that function integrated. The process assigns the right to use someone elses SP for them including all its benefits. But the SP cannot be powered down or delegated to a third acoount. The owner still has full control over it and can withdraw it at any time after which it takes seven days to return to the owners account.
I see in your wallet that you have actually delegated a substantial amount of SP away so you should be familiar with that process. Did you mean something else?
The incentives come via the liquid payout of Steem and 1UP paid out to the delegators.
Very good presentation! I have two questions.
Thanks.
No, I don't think we will ever touch the old code again. Utopian will get its own community via the new 1UP system. We will build upon what we have learned there.
Please wait with your delegation until we can make good use of it. Right now it would be wasted as the system is not ready yet. And we will not use the old account either. I will create a new account for that without the Utopian name in it.
cool! just re-read it to try to understand it more. you can count on some delegation from us and i will spread the word in various channels as the time for delegations comes. i am curious- how will 1UP decide which posts to vote? great work @flauwy!
That's the whole beauty about 1UP: YOU will decide that, not 1UP. You give a 1UP to a post within a community on 1UP and those posts with the most 1UPs will get upvoted.
ok so completely democratic voting. 1=1. i understand with SMTs (which i am getting that this wants to eventually evolve into and is preparing for/mirroring?) that there will be an oracle, like a gatekeeper. will 1UP have such a role (or multiple?)?
I hope not as I am very much against the idea of centralized oracles. 1UP is exactly the opposite: A decentralized voting system where the opinion of the many counts rather than the opinion of a few.
awesome to hear! are SMT oracles centralized by their very nature? i too am completely turned off by the idea of various oracles deeming what content gets to be seen.
I don't know if all would be like that but the proposed oracles (which are all just theoretical in nature) were centralized.
great information about 1up @flauwy, at times I did find it difficult to fully comprehend but this post explains the whole system really well, it is going to do great things for the steemit community and I look forward to getting involved once it is up and running.
Fantastic that is help to make the system clearer. :)
You explained in very great details seems like this is going to be a game changer :)
Well as for Actifit and Steemhunt it sure is running successfully till now !
All the very best for your project and hope it sure will be a a great project :)
Thank you. I hope 1UP can join the ranks of the other SMTs. :)
I will have to read this a few times to really get it but will certainly support as it seems like a great idea. Well done for yiur hard work..