Are SMT's replacing SteemEngine?

in dtube •  24 days ago 

Hello Steemians,

The launch of SMT’s have been talked about for awhile now and some may even have questioned if they were going to make it to Steem or not.
But now they are what does it mean for the Steem ecosystem?

SteemEngine has been a great project that has allowed communities to grow on Steem with the help of the ability to create tokens which can be used buy these communities.

With the launch of SMT’s fast approaching I have been reading posts to try find out what new and exciting things they will bring.
Now I not a developer or a computer technician, so perhaps I’m missing something, but from what I have learned SMT’s are going to offer Steem what SteemEngine already offers. Is this right?

SMT’s are going to allow communities to create their own tokens which is what SteemEngine does already.
If anything SMT’s sound less adaptable as a lot of settings made upon creation of a SMT can not be changed.

I did read that SMT’s allow the option of an ICO so maybe they will offer more then SteemEngine tokens .
Also whilst not confirmed there has been a lot of talk about Steem payouts being in the form of an SMT and not Steem anymore. I guess we will have to see but it looks like that’s the way it will go.

If SMT’s offer more then SteemEngine tokens then what happens to SteemEngine and more importantly those like myself who have invested in the Steem communities that have been created using SteemEngine tokens as there currency?

I really hope I’m missing something and there is room for both to continue to develop . So we can all grow stronger together.

If there is anyone out there that can let the community know how SMT's and SteemEngine can work together. The Steem community and Myself would love to here from you.

Thanks for watching,
Have an awesome day!

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I think they have different purposes and pros / cons. SE runs on a side chain which means its more flexible and cheaper. STMs run on the main chain which means they are more secure but less flexible.
It will be horses for courses.

Indeed. You nailed it @apshamilton

I don't think SMT will replace Steem-Engine but instead give another option to those on chain who may want to build a community.

I do suspect some communities/tokens to shift to SMT from Steem-Engine. Some SE tokens will likely take a hit but those with established communities and a strong footing won't likely see much change.

Interesting times are ahead .....

I don't think SMT will replace Steem-Engine but instead give another option to those on chain who may want to build a community.

We're on the same page here.

I think also that SMT's will be faster than steem-engine. I use to the transactions in steem and I would like to see everything built on SMT's faster and without bugs. @tipu curate

I personally have had no issues or bugs with SteemEngine, but I have had others talk about issues so maybe SMT’s will fix those.

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Upvoted 👌 (Mana: 0/10)

To the question in your title, my Magic 8-Ball says:

As I see it, yes

Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.

Hi @mickvir

Thanks for sharing your thoughts on SMT. I think many people are currently wondering if SteemEngine will still "survive" once SMT would be launched.

Correct me if I'm wrong, but from my understanding SMT will not be "connected" / pegged to STEEM. And that's one huge difference.

Also SMTs are being done by Steemit Inc. So I expect that it will be very difficult to use. Somehow I don't think they will create tool as easy to use as Steem-engine currently is.

ps. payouts in SMTs? Ehm. I don't think many users would be interested. STEEM has value for many. Tokens either created on SE or SMT will have no value for almost anyone. I think demand for SE tokens (easily can be exchanged to steem) will be still higher. At least initially; at least within steemit community.

Upvoted already,
Yours, Piotr

Yes , if I remember correct SMTs are not pegged to Steem.
Also SMTs whilst having a lot of options you can play around with when setting up. Once you finalise the SMT it is no longer an option to fine tune it. Where as SE tokens you can . At least that’s what I understand.
Like @apshamilton said in a comment on this post ‘horse for courses’
He summed it up nicely .
People will uses whichever they feel more comfortable with .
Anyways thanks for you awesome reply ,
Have an awesome day!

Posted using Partiko iOS