You are viewing a single comment's thread from:

RE: Interview with the Managing Director of Steemit, Elizabeth Powell

in #steemit3 years ago

What's in SMTs that makes us excited?
I guess other cryptos out there already have this kind of project similar to SMTs.
Maybe we're late on this SMT's thing?
Other cryptos already have advanced projects going on.
Are we not being left behind?
What's slowing us down?

Sort:  

Some SMTs are actually doing good more than our dear coin itself. Even thou am too young to get the whole bit, you are right there's need to do much than what is done right now.

Could you give examples of those advanced projects and similar tokens? No other blockchain gives developers the ability to launch a 3-second fee-less cryptocurrency that can be distributed by the upvotes of users and scale to meet the needs of tens of thousands of daily active users. That's what SMTs will deliver, and no other blockchain is yet capable of matching those features thanks to Steem's application-specificity. Steem-Engine tokens are great, but they're not cryptocurrencies and they don't have the level of security and decentralization SMTs will have. Both token protocols have their strengths and weaknesses, having both will add even more value to the Steem ecosystem.

But do developers really want these things? There hasn't exactly been a flock of developers coming here over the past 3 years, why is that?

In short:

SMT's will have all the good from Steem and none of the bad. If you're a long time user, you know what I mean or know the history. I'm sure many would like to integrate the technologies behind Steem token to power up their community but don't really want all the baggage that comes with it currently. SMT's will also allow developers to have way more control; supply, issuance and so on.

I personally know many developers who have chosen to just fork the Steem chain for their own projects, so there's demand for the technology, SMT's can't come soon enough.

Ok, so for the projects with resources (that happen to like the tech), why would they choose an SMT over just forking the chain like many are already doing?

Network effect, faster implementation, having a community of people that have interest in seeing your product succeed and so on.

Is that enough though to forego the other option? Those reasons don't sound all that tangible.

Jondoe, you're asking questions you could answer yourself with some thought and research.

Coin Marketplace

STEEM 0.28
TRX 0.05
JST 0.038
BTC 36137.14
ETH 2403.64
USDT 1.00
SBD 3.80