RE: Steemit Smart Media Tokens: A Promise Waiting to be Fulfilled
Thanks for your insights here. I think it's important to have an SMT architecture in place as steem is providing a real world use case to many for the first time. Having the same tools as other platforms will encourage people to stay on steem and therefore cement its first mover advantage. Whatever replaces steem will need to be 10x better than steem. However the platforms that are building on top of steem already have demonstrated that value is value is value; Utopian.io already has a moderator system, looking around the platform I can see a nearly limitless infrastructure for building anything we can imagine already. The trouble areas here of course are privacy, as anything posted without encryption is public forever, and smart contracts.
Inventory control, internal POS, virtual reality, and rich media are all coming. I truly believe the attention market/brain paradigm on steem will encourage people to spend their time here. Politics, knowledge, science, art, news, sports, games, gambling, shopping, and even memes... anything that is public or is done in public has a place here.
Imagine autonomous cars you hail by posting on a "d-uber" platform; it requires a 100% upvote, and it's platforms wallet also upvotes the ride. Bringing tangible value to its users, and funding the cost through inflation that then gives steem another defining edge outside of exchanges and in real world commodities.
SMT may have it's uses, I'm glad it's coming, it may also provide more market edges for price discovery; but the innovation already present is mind boggling.
This is the kind of comment I'm hoping for! While true that blockchain is immutable it's possible to mask certain content based on how 1) transactions marked private or public (Wanchain, Monero have privacy built-in), 2) visibility settings (Steem has a low rankings setting). I just published another blog entry on Holochain's project. It's not a blockchain, in fact it's much more similar to Git in that each node can carry its open copy of a localized ledger, and merge to the greater ledger when needed. I could see a whole new decentralized architecture around what Holochain is doing, and blockchain in its entirety could be left behind as a truly decentralized solution.
Privacy coins may have to wait for quantum penetration testing. As is anything that is centralized or encrypted may only be as safe as the next innovation or hacker. Steem has mechanisms for privacy as well(memo system) but the nature of this blockchain relies on openness in general. Systems with multiple points of view aren't as secure as single POV systems like the directed acyclic graph... IPFS is one such system that relies on distributed hash tables, but these tables aren't updated at the same time which allows some conceivable vectors of attack though I'm not aware of any success. Blockchains make trust ubiquitous, trust is the fungible commodity we wish money was. It's value to us can not be understated. I will look further into holocoin, but my initial belief is that EOS (a multithreaded DAG) will provide the first solutions that holocoin seeks to answer which may leave it in the dust. I'm also less trusting of hardware dependent software after seeing the intel chip exploits.
@disregardfiat I used to work at Intel. Exploits at the chip set level. Send over a link so I can read up on it. Multicoin just published a very detailed analysis on EOS. I haven't dug much into EOS myself but have the analysis printed on my desk for a readout sometime this week.
Intel Admits Flaw This exploit was a back door by the intelligence community.
You're an LA steemian? We should meet off chain sometime.
@disregardfiat yes I'm in Koreatown. Are you in LA? Feel free to message me. My contact information is on my website (quantalysus.com).