RE: Smart Media Tokens Use Cases, Caveats And Limitations - The SMT White Paper Series, Ep. Three
Thanks @dragosroua, your posts are extremely helpful in learning about the Steem platform, wish I could cast more than one witness vote for you!
A couple of comments/questions here - sorry in advance for the long comment! First you said:
In the white paper, this use case is about "multiple token support", which basically means you can have a generic token, MYFORUM, and then each sub-community can have its own token, MYGARDENING. In this setup, posts could be rewarded with all the available tokens of the forum.
Emphasis mine. But in the whitepaper it says:
At most two tokens may be specified in votable_assets. This means that each post is voted with at most three tokens (including STEEM).
So it seems like posts cannot (as proposed) be rewarded with all of the available Tokens - only 2 SMTs and STEEM. So a post in gardening can be rewarded only with MYGARDENING, MYFORUM, or STEEM. Let me know if I'm reading this wrong.
Second, in your "Metalanguages" section you write:
And for each action they publish, they may get some sort of rewards, by means of upvoting (and then curation, etc). The idea is that, because of the publishing features inside SMTs (rewards for content, rewards for curation), these SMTs can be soon integrated in some sort of metalanguages, or stuff that you inscribe in the blockchain as a Proof of Something and then use the rewards feature to generate liquidity.
I was wondering if you could expand on how you see this working? I was thinking about some very similar ideas - i.e. using the Steem rewards system to incentivize things other than straight content publishing - but I'm not able to visualize how that would work exactly.
In your example above with the proof of entrance/exit, how exactly do you see those actions being rewarded? Would there be a site where users can see the entrances and exits and upvote them? Or were you thinking something like the founder's account with a large % of the Tokens auto-upvotes each entrance/exit via some algorithm? Or maybe some other method I'm not thinking of?
Very interested to hear your thoughts - if the "Metalanguages" concept you proposed can work I think that can open SMTs/Steem up to a much larger audience outside of the traditional content publishing space!
Yes, a single post can receive rewards with maximum 3 types of tokens, but in the entire ecosystem can be more than 3 tokens coexisting at the same time. That's what I mean with "all the available tokens of the forum."
I was thinking at some sort of app that reads the blockchain for specific "words" or "commands" or "actions", like "in/out" example, for a specific community. The community part doesn't have a very strong enforcement now, but I'm expecting it to be clearly defined once they actually implement it. But for now you can "mimic" a community with a hashtag, or by simply maintaining an off-chain list of accounts that you "monitor". So you read the posts of those accounts and for each "action" you set a specific "reaction", like, for instance, an entrance is upvoted once by the owner, then when an exit occurs, the app can calculate the time between "in" and "out" and rewards the user with an upvote for the number of hours spent in that coworking space. Subsequently, you can buy coffee with such commands, or rent meeting rooms.
Of course, they will look odd on the blockchain, and probably
custom_jsonoperations can be used for this type of payload in a much cleaner way.Sorry for the slow reply, had a long day! Hopefully you're still up for this discussion because I have another question about the three types of "votable" tokens per post. Take the following scenario from the gardening forum example:
I have some vested STEEM, MYFORUM and MYGARDENING tokens in my account. Then I vote on a post with those three votable assets. Does that mean the post's payouts in STEEM, MYFORUM, and MYGARDENING increase relative to my vested shares in each?
It seems like that would be the case for MYFORUM and MYGARDENING but it doesn't make as much sense for STEEM, otherwise people using the "MyForum" site would start getting STEEM rewards for their posts and they may not even know what STEEM is.
Also on page 57 of the whitepaper it says:
That sounds to me like Steem Power can be used to vote and increase the rewards paid out in SMTs which doesn't make sense to me. Why would you want someone with a bunch of Steem Power and no MYFORUM/MYGARDENING tokens to be able to come in and influence the rewards on gardening forum posts?
I'm not sure I really understand the above quoted paragraph or how vested STEEM affects SMT payouts and why STEEM is always considered a votable asset on all posts.
As long as any SMT is created "off of" Steem, both as currency and as application layer, then the primary interaction will always come from Steem. So any new content platform will be always votable with Steem first and then with its specific SMT. Try to imagine it without this and you'll soon see how it can spiral out of control.