I was for a while confused when i released that steem had a smartcontract program running. I actually thought it was the season for SMTs that @ned talked about almost a year ago. I first saw @wafrica tokens which was life then i saw actifit. Seeing these tokens made me look for more which led me to the discovery of steem engine. The pilot of all these new tokens that run on the steem block chain. What then is the difference between steem engine and Smart media Tokens? On the general overview, they are to have the same function which is ; they are to execute custom smart contracts based on data published to the Steem blockchain. They both have one function but are very much different in its make as one is headed by @harpagon whiles the other is headed by Steemit Inc.
Smart media tokens is a tokenized distribution method based on the steem blockchain which leverages proof of brain in its distribution to foster content creation, digital marketization and online businesses in general. SMTs is the protocol that will make a lay person create a token and generate value out of nothing. Its similar to Ethereum's ERC 20 tokens which tokenised the internet to an extent upon its release. The positive aspect of SMTs is that, it runs on a faster, smoother blockchain based on a proof of work algorithm and its use cases are streamlined towards content creation and marketization. SMTs promises to allow the integration of preexisting content creation websites to help tokenise them. Imagine twitter having its own tokens for rewards that is associated to steem. It will push the price of steem exponentially.
Steem Engine is smartcontract application that has leveraged the steem blockchain to tokenised content in a different way. Steem engine leverages the steem blockchain and uses data from the steem blockchain and packages information with specific ids and forms blocks on a side chain. Yes you heard it right. Steem-engine requires steem to function since all data is obtained from the steem database. Steem engine in a sense is acting like SMTs with a different approach. Whiles SMTs will mainly run on the main steem chain, Steem-engine runs on a sidechain allowing a seemless experience when creating a token and marketing content. Whiles @ned has decided to take his time in rolling out SMTs, @harpagon said it was about time.
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