Tokens on Steem
The community future.
Issue ones like Thorn, Mango, Florijn and so on.
This would be another game changer
Now, if you thought that Steem was about to stay the same, a Social Media Platform on a blockchain, then this might surprise you. Because the Steem future to come is going to have another game changer included. It is about Steem Tokens, or Community Tokens, and it might be expected that Golos will implement it too. This is still in a proposal fase and I became aware of it thanks to a post by Fyrstikken. It contained a recording from SteemSpeak dot com, with special guest Ned Scott, CEO of SteemIt dot com. And Ned had some very exciting announcement about the future of Steem, with solid plans to make Community Tokens a new feature.
If you are familiair with the Steem cousin Bitshares you already might know a bit about User Issued Assets {UIA}. And it could well be that some of the Bitshares code will be used to create the Community Tokens option for the Steem blockchain. To get an impression how that works, you can have a look at the Bitshares Decentralized EXchange {DEX} hosted by OpenLedger dot IO. Just used some BTS {Bitshares} I had to trade for Steem Power{SP} through the service of Blocktrades dot US. It is truly the blockchain family of 3-2-1-DONE! And that speed will also be available for the Steem Community Tokens.
Wait, there is more to be excited about
The Steem Community Tokens can be issued by anyone who has an account. Maybe you would do one just for fun? Or you have your own company selling 'Mangos' and want to give some extra service to your customers, giving them your unique company tokens. Maybe you are a Nederlander like me and want the Nederish community at Steem to have their own token called: 'Florijn'. Or you want to support fair trade for coffee bean farmers, you could create a token for that! And it could be that you want an alternative community token for the region you live in and call that the Thorn. Sell tickets for festivals, using tokens, just think of all the possibilities, like crowdsourcing, donations and so on...
Now what makes this Steem Community Token system so much different and better than other systems? Well, for one it is the speed, all transactions will be like 3-2-1-DONE! Next it will be just as scalable like Steem itself. And It might be far fetched right now, but it might be that the timing for EOS, the parallel processing smart contract platform, is ready just in time. So its code can be used to make Steem even faster and more scalable. But I have to admit that this is mainly based on my own free association. Yet as part of the Bitshares Graphene code can be ported to the Steem Chainbase code, then EOS could be used in a same way...
So, why not just use Bitshares and its User Issued Assets? Well, part of the software code will probably be used. Yet, there will be some unique features for the Steem Community Tokens {SCT}. One being that they inherent the properties of its parent, Steem. They can be used as 'Tippies', tokens used to tip others. There can be a reward system attached to them. This is great for localized communities like the one from Nederland. When they would get Florijn rewards! This opens up a whole new market, also on the Decentralized EXchange/ Internal Market of the Steem blockchain itself!
This will trigger a lot of peoples imagination
Well, it did for me, while I was listening to the NED-TALK hosted by SteemSpeak. Wrote down a lot of notes, and while I did it became clear to me that this would have Steem outdistance the competition once more. Just when I thought Steem had reached an innovation limit, this great news got shared by Ned Scott. And SteemFest2 is scheduled for november 2017. While the whole cryptocurrency market is regaining its strength in a fast pace. Just like the price of Bitshares, Golos and Steem is moving upwards again. These are exciting crypto times. And it seems that the SteemIt incorporated Team still has got a few tricks up their sleeve to suprise us with...
Have a good one!
Steem Issued Tokens, the next game changer!
image cc-by-sa @oaldamster
I also heard the podcast with @ned. This is going to be revolutionary in a certain way and will take Steemit to another level. By the way, are there any problems with our dear Slot Coin, perhaps? I got this on my wallet today
This would surely be another big game changer!
Sloth was one thing I thought about to secure in a Steem Community Token. Then we would be done with these blockchain split attacks.
Will have a look at it and firewall block the causing IP using the Slothcoin version that is causing this.
Let me know how it goes! Should I re-sync the wallet?
Wait with a re-sync...
First it needs to get out off high diff.
Then see how your wallet picks up.
I'll let my miner run for as long as needed.
Thanks for alerting me on this!
No thanks needed, you know how i love Slothie :) So, I should wait a bit before open the wallet and see?
Yes I know, once that little one has gotten to you, it is hard to let it go. ;-)
As far as I can see now there is a split at 571593 and 571959, 366 blocks apart, in about 3 days time. My wallet is synced at 571593, will stop the miner and restart it.
If all is well @juanmiguelsalas our beloved Slothie is back on the right track. ;-)
Somewhere starting from block 5717xx. If there is still an alert then this should disappear again after the longest and best chain has moved on far enough in confirmations.
Huhu!!! Thanks for letting me know Slothie is back on track. Will open the wallet now to re-sync :) Slothie forever!!!
You're welcome! :-)
Forever Slothie!
#Slothcoin is in very high diff currenty, turned my miner on at block 571593. This could take a while...
These notifies can get a bit annoying, so I set it in Slothcoin.conf like:
# When safemode is unwanteddisablesafemode=1# Turn of the notify gets annoyingalertnotify=0It needs a restart of Slothcoin and then then notify should disappear. Also if the longest and strongest blockchain got accepted by most connected peers using the right Slothcoin version it should disappear.
This could take a few hours, at least...
So one way to use SCT is to distribute them like reward points from bank when you use your credit cards. Say if I sell some kind of product or service through Steemit, I could potentially create a unique token with my brand name and systematically give it to my loyal customers. Then those customers could use those tokens to purchase future products or exchange it out for cash?
I could distribute out Phok tokens to people on Steemit, lololololol.
Hey, if I have 12 Phok tokens in the morning and decide to distribute them throughout the day. At the end of the day, no one wants them and I still have 12. Does that mean I give zero Phoks?
That is a nice #SCT example. :-)
Phoks could be used just like Steem in effect. And if you distribute them and the accounts keep them, they will still own Phoks.
Only if they all would return them to you, you would end up with the original 12. But why would they? Do they not know Phoks could even buy them a cup of coffee. When they exchange them for Djawas. Just like the could convert Djawas to Phonks on the internal Steem market.
Phonks could be exchanged for Steem and so on.
Did you get your Phonk today?
The prospects of a thrilling time ahead!
Yup, I concur. Can't wait.
=D
to process right now..
It will become more clear in the near future. It is an addition, expansion, of what could be done with the Steem platform.
Good thing about these future features is that the Steem platform still can be used the same as now.
There will be posts made by many over time though that will help explain it all in a step by step manor.
And one nice side effect of these future developements could be that the price of Steem could make a jump upwards.
if the price goes up ...that's a good thing.
if you say so.
I got ZERO idea what you're talking about
price of steem going up..
Hulk LIKE!
It will make more sense little by little over time. You could think of these tokens like different coins being added to the Steem platform. Used for their own specific goal.
If you would issue your Bubbas token, for example, you could use these as payment with discount for your own published books. Or give Bubbas to those who have bought your books.
Hope this makes a bit sense.
And I'd like the price of Steem going up too...
nope..
I'm lost..
except for that last part..
Okay... We'll leave it at: price of Steem will go up, when tokens get in! For now...