Why STEEM's Future Looks More Like Ethereum's
Why STEEM is looking more like Ethereum
For Steemians who have not watched the latest video from @ned on Smart Media Tokens (SMT) please refer to the following video:
SMTs appear poised to take the cryptocurrency world by storm given its vast enterprise application. Steemit has already helped pave the way for validating the STEEM blockchain and displaying its community value. The introduction for SMTs provide established companies and new ICO projects alike to immediately tap into the value of fast, low-cost transactions, and active community engagement ecosystems on a scalable blockchain.
Based on Ned's explanation of how it will work, STEEM looks as if its utility will begin to look more and more like how Ethereum looks today as the platform of choice for ICO fundraising. I am particularly impressed in its ability to host automated internal market making with STEEM as a reserve currency. Established markets will become a bigger issue as cryptocurrencies continue to expand exponentially as pairings become more difficult to make. Can it be that STEEM will finally break out of its range to capitalize its new future value opportunities? Time will tell.
As for me, I am beginning to see STEEM less as the income opportunity for buying other cryptocurrencies and more as the default base currency where one should begin to HODL. We all know that Steemit has immense advertising potential, but the addition of SMTs into the mix, and it has become increasingly apparent that not just Steemit, but STEEM itself can become the vehicle for value accumulation in the world of advertising and online communities.
What do you see down the road for the future of STEEM? Leave a comment below.
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But we have a BitShares better suting for ICO in grahene ecosystem. No?
I agree BTS is a very good platform, but I think the utility of Steem through its influence model trumps BTS in terms of added value functionality. As ned noted, Eth sits idle after ico. Same with BTS, but not so with Steem.
yep bought a few more yesterday and planning on a long term hold. If the price stays under $1.50 ill be topping up every week :)
I wonder how closely tied to the $1 line Steem will stay. Although SBD supports steem when it falls, i wonder if itll also prove sticky when it rises.