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RE: SMT Burnup: Voting & Delegation
I am still trying to understand how Smts and SCOT tokens will coexist. It will get very complex. Is it not better to unify them under one banner?
I am still trying to understand how Smts and SCOT tokens will coexist. It will get very complex. Is it not better to unify them under one banner?
SMTs are going to tokenize the Internet; SCOT everything else.
SMTs fit into a small box. It centers around the content/reward system along with a tie into to the resource credit quantifier. Hence, anything created using SMTs mirrors STEEM along with using the same resource credits for each operation.
Anything that does not fit into that box has to be a SE design. For example, you cannot create a token whereby one can receive recurring payments using SMT. That is outside the scope of the protocol.
Thanks for you answer, I suppose when we see the first SMTs things will start making more sense to me about their use-cases.
I feel like it will be the job of an interface to help them co-exist under "one banner".
So at steempeak we'll work at making the usage of the two pretty seemless. Token supported communities for example: well why would the interface have to make a big deal that one token is a side chain token created by Steem-Engine and the other is more deeply integrated into the main steem blockchain, just let them know they're tokens and give them the economic aspects of the token I don't think the actual actions and voting and stuff the user does really has to be very different. Maybe the user will say why can't this community do this thing and we say it's because it's an token built on SMT instead of Steem-Engine.
In any case they're both token systems... I mean honestly if someone wanted to create a steem community that distributed EOS or TRON side tokens in a reward pool manner I think the interface could support that community just the same and the feature set may vary a bit. EOS ones may allow some different types of governance structures.
just a few thoughts... we still have lots of time to think about it.
Thanks for your reply, It would be great that in Steempeak when we give a vote we could choose the token to apply and the weight. It is probably more complicated to apply this but I have no doubt Steempeak dev team could make it so. Thanks for such a great interface to all of you.
If i'm not mistaken this is a steem-engine thing, we could provide the interface but still has to have a backend enabling... and when SMT comes about that and we fully support that... I'm not sure how they'll do it so we'll see about that.
That would be amazing for the @devcoin project for example! Looking even more forward to SMTs. 😎
From what I understand you don’t have to use either, you just get an extra layer of benefit when you do.
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