SMTs are a new piece of open source software that we are writing and submitting to the Steem github repository, where it will be either approved or rejected by the witnesses, depending on their assessment of whether or not it will compromise the security of the network, and whether the Steem community supports the idea.
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Of course not, approval by the witnesses is only asked before merging and not before starting to work on it.
Does it mean that merging is not going to be done if witnesses are against it?
Theoretically, that's true for all changes which are to come and which were merged already.
@raycoms is correct. Steem is one of the best blockchains in the world and the witnesses are there to ensure it remains that way. It is their responsibility to only accept new code that makes the protocol even better without damaging it. It is our responsibility, therefore, to prove that the code we are releasing 1. makes Steem better, and 2. does not pose a threat to it. These are healthy checks and balances