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RE: Steem - Steemit,Inc. releases SMT PR
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
I'm a bot. I detect haiku.