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RE: Exciting Times Ahead As Chief Executive Officer Of Steemit, @ned, Announces Release of Smart Media Tokens (SMT) Whitepaper
An SMT will be traded through STEEM, so we won't have a bunch of SMTs and STEEM just one of them. We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.
Also, the SMT generation mechanism is way more complex than just a token issuance on the Ethereum platform. When you launch an SMT, you literally launch a thin layer of Steem-application-processes on top of your content, including your own rewards pool, your own inflation model, your own voting and curation algorithms and your own vesting mechanism.
Hope this helps.
Absolutely, your explanation helps, @bbomber. I think there was a mix-up in your first paragraph. Actually, a bunch of SMTs will be created on top of steem. I really appreciate your taking time out to explain this complex SMT idea. Thank you.