Nobody can deny that @ned has been a lot more visible of late.
Last week, he was in the Far East visiting Korea and Japan. This week it looks like be will be in New York speaking.
In between, he is dropping wonderful tidbits, this time on Telegram.
According to what was posted, Steemit is going to create a second universally distributed token. Unlike STEEM, which carries stake-weighted voting, this will be account based. What is really cool is this will have individual verification meaning the bots are out.
This is all part of the Oracle system @ned wrote about roughly 6 months ago. This token is being termed OSMT (Oracle Smart Media Token) according to a diagram @ned drew up that @nairadaddy put in his post.
@robert-call brought a valid point about the STEEM blockchain allowing for up to 3 tokens to be used for each post. This is all contained in the SMT white paper page 40-41.
STEEM is votable for every post.
This means that STEEM can by used for any application on the STEEM blockchain. Hence, anyone can get paid for an upvote using STEEM.
Tokens that are votable are either rewardable or advisory.
- A token is votable for a comment if the balance of that token influences the comment.
- For a given vote, each votable token of the comment is either rewardable or advisory.
- If a token is rewardable, then the vote affects the comment’s reward in that token.
- If a token is advisory, then the vote does not affect the comment’s reward in that
Hence we see that two more tokens can be added...
At most two tokens may be specified in votable_assets. This means that each post is voted with at most three tokens (including STEEM).
This makes total sense since we saw that already for a while when the SBD to STEEM ratio got too high so we received payments in SBD/SP/STEEM.
The big advantage to this is that STEEM hodlers can use other applications on this blockchain even without having the SMT created token. The other nice aspect to this is that the STEEM hodler automatically has bandwidth since it is associated with each STEEM account.
For those remaining on Steemit, it appears that in addition to STEEM, some will be earning the OSMT upon verification. If I understand this correctly, each post will have the option of determining which token is chosen for payment. Hence, on Steemit, one is going to have the choice to opt for either stake or account weighted voting.
No consensus level restriction forces any particular post to have any particular allowed_vote_assets. As a consequence, any post may mark itself as eligible to be rewarded in any token.
This new methodology could enable the finding of quality content a lot easier. Obviously, with things being so new, we will have to see how this works out. Nevertheless, the fact that Steemians will have both the opportunity to earn STEEM like always AND opt in to receive GPT is a huge step. This should enrich those on this blockchain even more.
This is another step that is going to make the STEEM blockchain a leader going forward.
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