SMTs finally have a launch date! And Steemit gets some press!
The long awaited Smart Media Tokens finally have a release date!
If you have been around steem for any length of time, you likely have heard about the elusive SMT.
It stands for Smart Media Token and it is a way for established communities, websites, games, etc to launch their own token via the steem blockchain.
The idea was for steem to become a fabric chain, much like ether, where many apps and coins could be launched on top of the original chain.
Thus greatly increasing the value of the underlying steem currency.
(Source: https://steemit.com/cryptocurrency/@littlescribe/smart-media-tokens-smt-explained)
We saw something similar happen with ether as it skyrocketed in value as more and more ICOs launched and Apps were built on top of the chain.
All was well and good except the Steemit.inc team was not quite ready to launch their vision as early as anticipated.
After originally thinking they may be ready for launch in early 2018, it was quickly realized that things would take much longer than originally expected.
Months went by without any word as to when they might launch SMTs.
However, today that all changed.
In a blog post put out by @steemitblog, it was revealed that SMTs are expected to have a testnet ready to go by January of 2019.
With the actual SMT ready to launch by March of 2019.
The actual dates are as follows:
January 15, 2019 - SMT development complete and live on the TestNet.
March 24, 2019 - SMT fully released and live on the Steem Blockchain.
(https://steemit.com/steem/@steemitblog/smts-release-dates)
On top of that, there has already been some press coming out announcing the news...
https://www.cryptoninjas.net/2018/08/15/steemit-announces-release-date-for-smart-media-tokens/
https://coincentral.com/steemit-announces-release-date-for-smart-media-tokens/
Some seem to be upset at how far out the dates are...
However, I think they are missing the bigger picture...
Having firm dates like this is very bullish for steem. We haven't had hard dates in a long time and judging by some of the comments from those with connections to the inner workings of steemit.inc, it sounds like they have learned their lessons about meeting deadlines.
Which means these dates are likely to hold up, even if they are not quite as early as some might have hoped.
The price of steem has moved up slightly against BTC (and USD) since this announcement was made and I would not be surprised to see it move up even more over the next day or two as this news starts to trickle out.
(Source: https://coinmarketcap.com/currencies/steem/)
Five months may seem like a long time, but the market will likely start to price in this good news well before it actually launches.
That means anyone that is hoping to buy steem low before they launch SMTs may have to do so well before the actual launch date.
Stay informed my friends.
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Follow me: @jrcornel
Not a chance these deadlines will be met
Perhaps we should make a wager?
Why do you say so?
Posted using Partiko Android
Just an experience
This is very good news — Viva Steemit!
Resteemed to my almost 2,500 followers...
Now is the time friends!!!
Steem is still a very good hodl!
Yep, and there is always the option to "keyboard mine" more on steemit.com the more SP you hodl.
I love "proof of brain". Our childrens will not understand how we lived before this era.
Haha now that would be something.
It's a bit of certainty that should buoy the crypto psyche.
Yes, I would not be surprised to see the price of steem bounce on this news.
This is very good news. Steemit is actually the biggest decentralised app by real usage (as opposed to speculation) and Dtube, Utopian and Busy add a lot to this.
If it can get SMTs working well that's a huge base to build from.
Good news! 💰🤑💰
It's been a while since we have had any around here.
In layman's terms, SMTs transform Steemit into a Reddit/Ethereum competitor.
That is certainly the hope.
That's good news @jrcornel, even though it's months still till we get there. It carries on to prove the value of Steem and the Steemit platform can continue to thrive and grow
Thanks for the update!
Yes and like I said, I think the market will start partially pricing it in before it actually launches, so we shouldn't have to wait the entire time before we start to see it reflected in the price.
Thx for the dates, was looking forward to it, im buying 1500 steem soon hihi
Nice! Getting em below a dollar is better than most who bought within the last 18 months.
I bought 800 yesterday, freaking 80c haha, so cheap in comparison with the 5-8usd couple of months ago
Yep, not only that, but you bought the 16th month low. Prices haven't been lower than that since March of 2017 I believe.
Yep, pink lambo incomming 😎
Wow, this is the news we've all been waiting for! These dates will increase the credibility of the steem blockchain.
Thanks for share.
I think so as well. Hopefully a couple news outlets pick up the news.
I hope so too and I am very hopeful that will be the case. Some smaller website are spreading the news, for example: cryptodigest.com and altcoinss.com.
Cool, glad to see a bit of press!