So how does this influence the price of STEEM. I see the increase in the use of the STEEEMIT blockchain and the potential to increase the number of users but price of STEEM. Still a bit lost.
Hi Cody, see my above comment STEEM is the currency, Steem is the blockchain and Steemit is the social networking platform (blockchain explorer).
Re: Price implications - Just like ERC20 tokens, where people have to use Ether to participate in the ICOs, people who wish to participate in SMT ICOs are going to need to purchase Steem :)
Steem will be a far better blockchain for ICOs as the transactions are ~ instant and there are no tx fees.
So how does this influence the price of STEEM. I see the increase in the use of the STEEEMIT blockchain and the potential to increase the number of users but price of STEEM. Still a bit lost.
Hi Cody, see my above comment STEEM is the currency, Steem is the blockchain and Steemit is the social networking platform (blockchain explorer).
Re: Price implications - Just like ERC20 tokens, where people have to use Ether to participate in the ICOs, people who wish to participate in SMT ICOs are going to need to purchase Steem :)
Steem will be a far better blockchain for ICOs as the transactions are ~ instant and there are no tx fees.
Interesting distinction between STEEM and Steem. I've just used STEEM as I like the capitalisation!!