#Steemsilvergold SMT info
After seeing this "new" development with SMT's and SSG, I decided to volunteer to help. I'm not sure what I can do yet to help so I figured I would start looking up info. Here are some of the things I have found so far.
SMART MEDIA TOKENS (SMT) EXPLAINED!
What are SMTs?
SMTs are to Steemit as ERC20 is to Ethereum. They allow app creators to develop applications on the Steem blockchain or to turn their existing websites into tokenized economies. Within these applications the SMT serves as the app’s native cryptocurrency. Two apps that do not issue SMTs as rewards, but Steem rather, are Dtube and Dsound. On both these sites, content publishers can upload their videos onto Dtube and their music/podcasts onto Dsound. Videos or sound clips that are upvoted/liked will reward the creator with Steem. An SMT based application would reward their creators with their own native token. Like any cryptocurrency, creators can then exchange their earned tokens for other tokens or back into their fiat currency of choice. This is potentially a game changer for several content sites. Media content has long been dominated by traditional revenue models (discussed below). Audience members have had no choice but to deal with these intrusive business models. SMTs have the potential to disrupt these business models. Let’s dig in further.
CoinCentral Article about SMT's
“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.
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.
The SMT protocol will also include smart contracts that enable the creator to specify Founder Tokens, Token Emission Rates, Initial Coin Offering parameters, and much more, which will make tokenizing a website or other enterprise infinitely easier.”
Steemit Set to Release Smart Media Tokens (SMT) For Native Steem Blockchain Coins
Moreover, the SMT protocol is compatible with a variety of platforms, including mobile, web and desktop. For this reason, developers and business people can easily access the most vibrant sector in fintech and immediately begin earning profits without incurring any charges. Also, the protocol will support the creation of smart contracts which further simplify the tokenization process by allowing the user to specify token emission rates, ICO parameters, founder tokens, and many others.
Videos
I've got a ton of reading up to do. Those videos go over a good amount of info, now I just need to wrap my head around it. This will be a good start for the information gathering part of SSG SMT's.
Proud member of Steemsilvergold! Soon with SMT's (whatever the hell those are). :)
Good work. I will start reading and watching the videos. Thank you.
You're welcome. I've found a bunch more I'll be posting after Christmas.
Thank you for your continued support of SteemSilverGold
You're welcome. This info is for you @ssg-community. We'll get these SMT's figured out.
I'm gonna do some research on this and see if there's any way a dumdum like me can help
Those videos have tons of info. Just takes a while to watch them all.
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Sweet. I think the world needs fat-elvis tokens.
Hell yeah. @Fat-Elvis tokens would be a hit!
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