Considering the Hive and Steem tranistion, I thought it prudent to explore Smart Media Tokens (SMTs). The primary question I wish to explore here is:
How will their development differ between the chains.
This post is partly adapted from a topic I explored about:
...clear overview of SMT fundamentals.
SECTION 1
looks at basic concepts as they initially developed.
It is a PARTIAL reprinted from here.Skip to SECTION 2 (below) for my take on how Hive presents SMTs and what seems to stand out.
I would like to explore the potential of Smart Media Tokens (SMT) in future posts.
SMTs are based on Proof-of-Brain:
- The ‘brain’ part comes from
upvotes - The 'proof' is the
blockchain algorithm
SMTs differ from other token protocols (e.g. ERC-20) by:
- prioritizing users interaction with applications
- efficient transaction costs
Efficient Programming
SMTs do not boast of being a far reaching solution to any number of applications like ERC-20. Instead, SMTs focus on aligning basic user valued input (upvotes) with an application.
SMTs may not seem as attractive as other token protocols. Their aim is effectiveness. Thus the private keys that run Proof-of-Brain can achieve much higher speeds.
It seems that either, other token protocols are trying to achieve too much too fast, or they have not clearly laid out their plans.
Connecting Users with Developers
Programmers enjoy creative freedom in knowing that SMTs can be included in a compact way. Though, their impact upon users will seem immense considering the relatively young crypto industry.
Programmers should not see SMTs as a simple tool for monetizing upvotes. Instead, SMTs offer a solid foundation upon which to build. It's a future where both users and developers realize their efforts in a truly free economic system.
SECTION 2
Hive SMTs
As of today, the Hive SMT, Whitepaper and Bluepaper were not accessible via the menu. I was able to access the Developer Portal.
You might have guessed that my aim is to provide a decent amount of information in a short time. I also write so that the reader can absorb bits via a cursory read. With that in mind, you can view the github paper for details. What I present below is meant to help with getting a sense of what SMTs can become:
After a query for "smt", I followed smt_create to the Witness Apiwhich returned the following:
Witness ApiMethods:
get_account_bandwidthget_reserve_ratio
SMT commands were found within the Broadcast Ops along with:
- account creation
- change/recover account
- custom
- delegation
- escrow
- feed publish
- price
- transfers and withdrawals
- witness set, proxy and voting
smt_contributesmt_createsmt_set_runtime_parameterssmt_set_setup_parameterssmt_setupsmt_setup_emissions
Back to the query for "smt". Below is a selected list with abbreviated descriptions of the results (NOT checked for accuracy):
Roles: active owner
smt_create...Numerical Asset Identifier (NAI)...smt_setup...descriptor object ... permanent configuration data ...smt_contribute...token ICO...smt_setup_emissions...inflation operations...smt_set_setup_parameters...asset symbol...smt_set_runtime_parameters...asset symbol... author/curation reward ...database_api.find_smt_tokens...find SMT ...database_api.find_smt_contributions...tracking...ICO phase...database_api.find_smt_token_emissions...rewards...database_api.get_nai_pool...array of Numeric Asset Identifier (NAI) ...rc_api.get_resource_params...export... resource...vote2...cast a vote...RB: Blog Feedoutput blog details...limit_order_create2...serialize the price...database_api.get_config...information about compile-time...follow_api.get_blog...list of blog entries...
Let me know if I am missing anything. Appreciate it.
visit the full/original post here
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I am not an expert in these things, but I appreciate the work you do and so complete and specialized information that you come to us and I really hope that the smt are very successful and we benefit by empowering these blockchains.Excellent information