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Few Weeks ago @brandonfrye told me about the Smart Media Tokens, At first it confused me a bit because I haven't heard it before, but I moved on to the SMT website and read their Whitepaper, then I understand what actually SMT is and how content creators outside of the Steem blockchain can use a new way of Monetization to their websites.
I Actually thought I had to write about this project, which is going to launch this year, I know lots of Steemians are not Familiar about SMT and SMT has potential to change the world of the internet.
Lots of people like me get involved in the world of Cryptocurrency After they got started their journey on the Steemit. As you know, The future of the internet is changing rapidly, Most of the new Innovations are happening based on the different Cryptocurrency. Steem blockchain & SMT is one of the great examples of this.
In this post, I will illustrate about the SMT and later on, I will write a brief guide to their use cases.
What are Smart Media Tokens (SMTs)?
Smart Media Tokens (SMTs) are digital assets that will allow every Content creators to Monetize their websites and earn rewards outside of the Steemit.
SMT is based on the Steem blockchain and It refers to a specific Cryptocurrency token "Steem" which basically enables anyone the creation of their own Steem like Social media tokens. SMT will use the same public/private key management system and user-friendly account names like the Steemit platform and It is like tokens build on the Ethereum's ERC-20 network. With the help of SMT content creators and curator earn rewards the same way by upvotes or likes.
As I said, SMT is based on the Steem blockchain, So here are some of the benefits that Steem blockchain offers to SMT.
Steem blockchain can handle more than one and half million transactions in the 24 hours without giving any serious issue. You can checkout at blocktivity.info.
It also allows you to instant transferring money and confirmed transactions within a few seconds as opposed to Bitcoin which might take several days to respond back to the unconfirmed transactions.
Steem blockchain doesn't charge you any fee on the Transactions.
How SMT will bring Success on the Steem blockchain?
SMT is introducing a new way of monetization for bloggers, forums or any other kind of websites which is a great opportunity for both Content publisher and curator to earn rewards and It also includes a built-in option for anyone to launch there on Initial Coin Offering (ICO). It will be also a challenge for the bigger companies like Facebook, YouTube and Medium etc., because new innovations are totally created on the decentralised concept and some of them are already created on the Steem blockchain like Steemit, DTube, and Utopian.
I hope that After the launch of SMT, Most of the websites will Integrate SMT as the source of Monetizing their website and There is also a possibility that the bigger websites also launch their own Cryptocurrency tokens or might integrate SMT.
If a large number of websites will integrate SMT into the world of internet, then It will increase the number of transactions on the Steem blockchain and The huge number of transactions will make the Steem tokens more valuable. Some of the Witnesses believe that SMT will help the growth & demand of Steem blockchain and it also increases the value of Steem up to the 25$ - 50$ within a few years.
Conclusion
It's all a matter of time that what SMT will bring and what success the whole steem blockchain will achieve? but I think, It is a great initiative and has potential to change the whole internet. It will basically increase the demand & value of Steem Cryptocurrency.
Now I'd like to hear from you about the SMTs and how It will bring success on the Steem blockchain by sharing your useful thoughts below in the comment, Maybe I missed something.
If you like this post, So please Upvote, Follow and Resteem.
It is truly enlightening hearing someone else elaborate on your personal thoughts. I got into Steemit by invite, and since, grew from curious to avid multi-platform user within a month! I agree, my interests similarily, call for some kind of exchange between the value of different types shared content.
Facebook defines categorically each content type in a value set to publisher's directed audience. I guess that metric on Steemit is in the measure of metadata "weight", how populated user engagement each of those meta tags receives, but for everyone else, you just gotta be sure. Establishing a practical time = money = art sort of capitol cycle is all a new world for commerce, how people make a living these days are as varied as the lifestyles we're now heavily marketed. Facebook effectively converted a portion of its user base into commercial marketers and in addition, attracted real companies to market on their platform. It's incredible how that happened in such a short time (maybe since 2009?).
Steemit is where it's at now. People spend so much time online, communicating at the least, might as well earn something while you're at it.
Hi,
many thanks for the interesting article.
Is there any tutorial yet, how to integrate it into a Wordpress based blog or into a normal forum like SimpleMachines ?
Once again you have shown great understanding of a complex subject (Steem/Steemit/SMT) My current understanding of SMT it appears it is designed to compete directly with EOS which ultimately competes with Ethereum. It would be interesting to see how they emerge and what niche they each crave out for themselves and who comes to market first with a fully functional platform. Personally I am off the opinion it's going to be a healthy competition and create more choices. Growth in this space will be inevictable
Thanks @nitego, You are appreciated for the nice feedback.
I don't have a deep understanding of EOS, but I think EOS will compete with Steemit and the whole Steem blockchain. SMT is a project that lets the people to Monetize their websites like Steemit based on the Steem blockchain. I read some posts about EOS that being said, Dan Larimer (The Cofounder of Steemit and also CTO of EOS) come up with the idea of EOS to overcome some of the Weaknesses/issue of Steemit. I think, there should be some competition between Steemit & EOS because this way both companies will serve the community well.
This is exactly what we've been waiting for for years. So it sounds like we could integrate SMT to our existing Travel Blog and to implement it into our Movie Recommendation site.
Thanks for reading @for91days. Yeah, exactly, You can integrate/implement it at any website.
Glad to hear. I appreciate you for the nice feedback.
This would be so exciting ... we've been having such hart time to monetize our sites without selling our souls. We believe in free information and access for everyone but uses are just not clicking on any ads anymore these days.
Yeah, you're right. I also used to have a blog 2 years ago.
We've travel blogging for 7 years ... .... but finally with Steemit and upcoming SMT ... this will make it finally worth it!
I often talk about Smart Media Tokens, but your explanation is much better. I'm happy to find your post. Thanks. (Google Translate)
Thanks for reading @rismanrachman, Glad to hear.
I appreciate for the nice feedback. keep it up!
Hahaha yayaa GT
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