WHAT ARE SMTs

Hi steemians, am here again with a topic that should tickle your fancy, although this topic has been thoroughly dealt with by the likes of @jerrybanfield, @boxmining, @littlescribe, among others, I wish to explain it in the most simplest and easy-to-understand way, to the best of my knowledge.

Quite a good number of steemians including myself before now, have come across the acronym "SMT" and could have wondered what it is. Not to worry, "S" stands for SMART, "M" for MEDIA and "T" for TOKEN. Just as the name implies, SMT in my own words and in simple terms, "is a smart idea in cryptocurrency blockchain which was initiated to reduce the work load on steem and steem dollars so as to generally improve cryptocurrency and all media platforms through user base reward scheme.

That was quite a complicated definition right? Now, let's break it down with the following questions ;

WHAT IS BLOCKCHAIN?
Blockchain is a common term in the cryptocurrency world which is used to classify records of transactions carried out in bitcoins I.e changes made from bitcoin to other currencies and from other currencies to bitcoin.

WHAT IS CRYPTOCURRENCY?
Crypto-means digital and currency-means money. So simply put, digital money.

WHAT IS STEEM DOLLARS?
Every steemian knows that steem dollars (also called sbd) is the currency used on steemit media platform.

With the above terms explained, it is significant to say also, that SMT is a smart way steemit founder(s) was able to efficiently control the competitive market. What do I mean by this?

A few months after steemit(a platform where users are rewarded) was introduced, the founder(s) saw the rapid increase in number of users and that steemit was going to be a threat to the already existing great and mighty social media platforms like Facebook, Twitter and the likes, so SMT was introduced to be a currency through which these great and mighty media platforms could also use in rewarding their users, such that as they use and grow, steem (which can be converted to sbd and vice versa) will also grow. By so doing, everybody is happy and there won't be any need to fight each other(what a smart idea).

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However, while sbd and steem are the currencies used by steemit users, SMT is the currency used by non-steemit users. Little wonder steemians say "STEEM is the future"? I think that's one of the answers right here.

Please for more information on SMT, kindly visit these persons blogs @boxmining, @jerrybanfield, @littlescribe

A very big thanks to @michaelcj for inspiring this post.

THANKS FOR READING!