Steem - Steemit,Inc. releases SMT PR
Scanning the steem/steemit headlines today, I came across this PR put out by Steemit,Inc.
The PR in its entirety can be seen below:
Steemit Releases Smart Media Tokens
New Blockchain Feature Allows Anyone to Create a State-of-the-Art Cryptocurrency
AUSTIN, Texas, Dec. 3, 2019 /PRNewswire/ -- Steemit, the first and largest blockchain-based social network, has released their ground-breaking token-launching protocol, Smart Media Tokens (SMTs), on a testnet.
With SMTs, anyone can launch a powerful cryptocurrency with 3-second fee-less transfers, without having to write a single line of code. SMTs also feature trust-less ICOs. Once the creator of an SMT finalizes the traits of their token, including how the ICO will proceed, they give up all control over the token launch and distribution process, and hand over control to the Steem blockchain which faithfully executes the airdrop.
SMTs will allow any publisher, creator, or entrepreneur to launch their own custom token on the Steem blockchain, which will help them monetize their digital content and reward consumers who engage with their content through likes, votes, views, shares, and comments.
Unlike other token-launching protocols, entrepreneurs using SMTs will benefit from the state-of-the-art properties that come from being powered by the Steem blockchain, including three-second block times, zero fees, and its 'Proof-of-Brain' algorithm, which autonomously distributes tokens to the most valuable members of a community. And because Steem was designed from the ground up to power web applications, SMTs will integrate easily into any established website, app, or platform, making it simple for mainstream creators and entrepreneurs to access the fastest-growing industry in fintech and immediately begin generating revenue at virtually no cost.
"If the killer-app of cryptocurrencies is their ability to align the incentives of various people within a group, then SMTs will be the most advanced, easiest to use, and lowest cost tool for delivering that functionality, ever," said Elizabeth Powell, Managing Director of Steemit.
SMTs have been live on testnet now for over 40 days, making this hardfork already the most tested hardfork in Steem's history.
About Steemit, Inc.
Steemit, Inc. uses blockchain technology to develop cryptocurrencies that support, improve, and monetize social media sites and networks. It is the primary developers of the Steem blockchain and steemit.com. To learn more about Steemit, visit steemit.com and SMTs at smt.steem.com.
SOURCE Steemit, Inc.
https://www.prnewswire.com/news-releases/steemit-releases-smart-media-tokens-300967989.html
These are the types of things that will help bring in new eyeballs to steem, steemit, and SMTs.
Very happy to see more announcements like this coming out over the past 6 months or so.
Keep it up Steemit,Inc.
Stay informed my friends.
-Doc
This is some interesting news, and I'm interested to see how it plays out. It certainly sounds exciting, for the Steem Blockchain to act as a god-father to other, smaller tokens, and by allowing its creators to have access to its technology.
I would assume since they are starting to market them, perhaps we are getting close to releasing them.
In my opinion, it's misleading to call tokens a cryptocurrency as they are just contracts between two users of a blockchain of the actual cryptocurrency. It's like calling a region a sovereign country without it filling the three basic requirements of sovereign country.
Tokens are basically "dummies" version of cryptocurrency as it requires minimal knowledge of coding and the token creator has no control over fixing bugs or limitations of the underlying code. If things go south, token creator is literally screwed.
SMT vs steem the cryptocurrency.
It's same with FIAT... Not everything that look like a coin, is a coin.
It's same with FIAT...
Not everything that look like
A coin, is a coin.
- mtl1979
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