RE: Cross-Blockchain competition and SMTs
What kind of pressure and competition does this put on blockchains and their speed and scalability? I don't really know.
None. This is not dissimilar from for example WhaleShares using Bitshares. The only reason why tehre’s the ERC-20 step is to speed up the whole process, while waiting for SMTs.
In that sense, the ERC-20 token will function the same way as EOS was an ETH-based token until the EOS blockchain allowed token-claims (or effectively launched).
When thinking about SMTs, in the hopefully not to distant future, tokenized SMTs will need to pay out and have the option to pay out in three different tokens. With one, vests, being a compulsory payment method.
So there is no competition as such. Not in the sense that suddenly things will be converted to an ERC-20 token everyone will vie for. The ERC-20 is a smart contract, a guarantee, for the Sh users and a method for Sh to continue its pace and release the next stage of its platform soon’ish, without being impeded by the release date of the SMT platform.
Thanks mate, that explains some things a bit better. As you know, this is past the boundaries of my knowledge ore than a few steps :)
There will be competition. But that competition will be because more actively voting vests every day.
While, of course, Steemhunt’s airdrop is a marketing and growth hack... the ERC-20 token itself is irrelevant in the competition element.
Yet, right now the question is whether that actually hurts the pool. The retention is reasonable but that doesn’t seem to result in sustained daily upvote value currently.