'Simple Token' - An Ethereum Based Competitor for Steem's SMTs?
Hot on the tail of Steem's Smart Media Token development, a new service is being advertised which looks on the surface to be quite similar to SMTs that operates on Ethereum and is called 'simple token'.
Just like SMTs, Simple Token allows groups and businesses to create custom tokens and there is quite a large team behind it who each bring a diversity of skills with them.
I just saw that they have a profile on steemit - @simpletoken - and have been posting here for a while. Since I don't have any direct experience of them, it's probably best that I leave the exploration of the topic up to you!
Wishing you well,
Ura Soul
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I have hard time understanding SMT.. now I will have more hard time understand more new tokens.. ahh somebody save my brain from exploding
They say competition is good, but as steemit inc seems to be betting the house on SMT's let's hope Simple Tokens aren't that good 😉
well, them humans say a lot of things and are both right and wrong! ;)
at least having such a competitor before finalising the details means that intelligent design changes might be made in response, before being stuck with them for some time after launch.
That is very true.
I am keen to see APPICS get up and running. I think once we can all see a working example of SMTs in action it will really get the motors running.
Yes, as someone considering creating an SMT, I still have many valid questions about different aspects of ait all and haven't been able to prioritise asking them and getting answers yet due to the complexity of it all. Working examples will change that. I'm not clear whether we are financially better off to 'get in early' with SMTs or not.
It is complex for sure. I've been through it all once and got a general grasp, but the finer points will need some deep and heavy thinking time.
I have been mulling over building a system with SMTs although I could possibly do much the same by just building directly onto the steem blockchain and using steem itself as the token.
It would be simpler I think. Still pondering the options and pros and cons.
yes, much simpler to not use SMTs - but until all the details are clear, the full list of pros and cons aren't clear either. to some extent, the issue becomes how widely adopted the idea is among other websites and whether new 'norms' are created whereby we simply expect sites to have their own tokens.
The potential is massive for SMTs. I keep seeing examples where I think "Hey, that site needs SMTs !"
I see the Guardian has a pop-up asking for a fiver a month now. Would SMTs work for that?
Or Wikipedia? That always has an appeal running for cash?
I hope steemit inc can follow through well with this.
Maybe they should have (already have?) an SMT Super Salesperson going round sites like these...
"Do you wanna get in on some SMT action...?"
From what i have gathered from Steemit Inc.s previous performance, they prefer to rely on 'network effect' to generate interest in the products, whereby the 'market forces' simply result in success due to having superior products. However, history is littered with superior products that were not adopted due to superior marketing of lesser products. So yes, it would be a great idea to have an active marketing team engaging the wider world - maybe they will do that once the technicalities are finalised.
@ura-soul there is room for lots of things in the crypto arena. I'm not to worried about this.
amazing project
thanks for sharing