SMT-based ICOsallow a portion of STEEM tokens received to be sent into an SMT’s on-chain, off-order-book market maker in order to provide liquidity to the SMT at a specified reserve ratio.
Really important to provide liquidity to token holders, otherwise tokens would be useless.
En-trepreneurs may now create tokens to integrate with their blog, application, or an entirenetwork of applications and topics
The chief advantage of steem is that developers integrate with it instead of develop on it. There are fewer development cost and risks. Your dont have to write your own smart contracts, in a new language and in a possibly insecure environment.
By leveraging the concepts of inflation (new token emissions) and token al-locations by post-based voting, SMTs exist in a manner where value must be distributedto users who are participating in their related content networks and applications.
Value is transferred from investors to workers, and - assuming the product of their labor is something that people want and grows the value of the platform over time - back to the investors.
Smart Media Tokens (SMTs) is a proposal to build a consensus-level token issuance pro-tocol on the Steem blockchain. Inspired by the revolutionary properties of the STEEMtoken, including automatic distributions to content creators, SMTs will be an upgradebeyond previously created blockchain token issuance protocols due to carefully designedtoken sale programmability, automated liquidity providers, decentralized token marketsand dynamic token distribution parameters, as well as a large ecosystem of tools (opensource wallets, shared key signing tools, etc.) for integrations at website and applicationlayers.
summary of smts
Due to suboptimal transactioncost structures that incur fees for basic actions such as voting or posting, misalignmentof interests between meta and core tokens that aren’t built for influencing distributionsbased on Proof-of-Brain, private key hierarchies that don’t cater to social versus financialoperations, and slow transaction speeds that are out of sync with real-time websites - noneof these protocols could ever provide an acceptable user experience for content websites,such as Twitter, Reddit (even subreddits) or The New York Times.
No other blockchain platform is more suited for the web.
Steem has a current marketcap of ~$280 million, but the dapps being built on it are arguably very much in their nascent stages and their value has yet to be demonstrated in a way that correlates to the value of Steem in a sane way, IMHO. What this means to me is that the vast majority of people treat Steem like an asset and not like a platform on which to develop
wonder if he knows about utopian.io or that you don't need to build dapps but just integrate with apps
It doesn’t even really matter if the EOS marketcap is $3 billion and the repo on github is going bonkers 24/7; if EOS becomes a super computer with no users then we’ve all failed (unless you’re only in it for the ICO).
This is exactly what ethereum is.
but ultimately such raw processing power is only cool to the crypto community
thats not true, businesses need high throughput applications
Neither of those blockchains are (currently) built to handle high TPS so of course they’re smaller. It feels very apples and oranges to me.
Thats the point. They are in completely different leagues.
Blockchain technology has migrated from public blockchains, like bitcoin, to either open blockchains, like Ethereum or, increasingly more frequently, private blockchains. It is the latter that currently hold the promise to serve as viable platforms for data economy.
Does not take into consideration a ubiquitous blockchain protocol for the internet.
The notion, for example, that bitcoin’s in-built scarcity will drive its price higher ad infinitum assumes it operates in some kind of detached vacuum. The ever-present prospect of software forks, while not technically adding to the supply of bitcoin core, points to a wide set of options for investors in the future.
Alternative tokens all provide the same platform level utility as bitcoin and that is as a secure data store, finite commodity and payment processor. Bitcoin has no relative value add on a technical bases.
But as someone who spent decades watching financial markets go through repeated patterns of exuberance and retrenchment, I’m quite uneasy with bitcoin’s latest runup. A 20% gain over the weekend left it up 60% over two weeks and up an eye-popping 900% year-to-date.
This is not "normal"
Many of you won't like it (at first), but push will win over pull. Healthcare is going through a similar transformation from pull to push
Inertia towards new behaviors
What people really want is to tune into information rather than having to work to get information
Yep. People are lazy and want relevant information readily available instead having to search for it
Facebook "pushes" a stream of personalized information designed to tell you what is happening with your friends and family; you no longer have "pull" them and ask how they are doing.
Feeds are an import precursor to this fully push based web.
Instead of visiting a website, we will proactively be notified of what is relevant and asked to take action. The dominant function of the web is to let us know what is happening or what is relevant, rather than us having to find out.
This can be done on the individual level using private data or on the group level using public data. Need more public data tho (i.e. blockchain data)
Dries Buytaert, the founder of Drupal, talks about “the big reverse of the web” and states “the current web is ‘pull-based,’ meaning we visit websites or download mobile applications. The future of the web is ‘push-based,’ meaning the web will be coming to us.”
Yes. Everthing is already becoming push based (e.g. feeds) but this will become more of a thing
They've been usurped by specialist firms with the resources to make their own powerful mining kit.
I imagine the same will happen with Steem
Bitcoin pushed beyond $8,000 this week, a boon to those willing to pour money into a risky and speculative piece of code that's hoarded more than spent.
Important to recognize that ppl don't use bitcoin they just buy it in anticipation that someone will want to buy it at a higher price later.
The key point that President Obama has missed along with all the rabid supporters of net neutrality is that ISPs and the companies that control the Internet backbone infrastructure that knits everything together do not have the power to pick winners and losers either. Consumers decide what products and services are successful because we adopt them. If an ISP blocks Netflix NFLX +1.09%NetflixNFLX$196.22$2.12(+1.09%)As of 11/22/2017, 03:46am EST because of the bandwidth it requires, consumers who want Netflix will take their business elsewhere. If enough people do so, the ISP will have to change policies or go out of business.
Not taking into consideration the feedback loop between consumer and supplier. At the end of the day consumers pick winners and losers in the free market.
As the former chief economist for the FCC, Thomas Hazlett, pointed out this week in Time, Facebook, Instagram, Twitter TWTR +3.55%TwitterTWTR$21.88$0.75(+3.55%)As of 11/22/2017, 03:46am EST, LinkedIn LNKD +0%LinkedInLNKD$0$0(+0%)As of 11/22/2017, 03:46am EST (and many, many more success stories of innovation) all emerged without the benefit of net neutrality. In the time when the government might have been ensuring a level playing field for the Internet pipe into our homes, smartphones and mobile devices completely changed how most people connect to and use the Internet.
mobile (ie new technology) levels the playing field not the gov
Wealth managers also remind would-be bitcoin buyers that the first mover in a new technology is often not the big winner
Great intuition
Of the finance chiefs based in Europe, the Middle East, and Africa, 41.7 percent said that bitcoin is "real but in a bubble" compared to 20.8 percent in the U.S. and 28.6 percent in the Asia Pacific region. A third of respondents in EMEA also think bitcoin is a "fraud," higher than their counterparts in the other regions across the world.
APAC > EMEA > US bullishness
Meanwhile, 27.9 percent said bitcoin is a "fraud" while 30.2 percent of CFOs said they don't know enough about the digital currency to have an opinion.
A large percentage are still not interested
Out of the 43 that responded, 27.9 percent said the cryptocurrency is "real but in a bubble." Another 14 percent said that bitcoin is "real and still going higher."
If 14% of fund managers invested 1% of their portfolio into digital currencies the market cap would reach $850
NEO’s GitHub has alarmingly sparse activity
Open source development isn't a thing in China. Will probably be an issue for the scalability of development from china initially.
There are 7 consensus nodes at this moment, for reasons explained in the whitepaper (for example balancing decentralization with performance). These consensus nodes are voted in by NEO holders. There is no whitelisting; whoever got the votes becomes consensus node. In fact, two external nodes have already been consensus nodes (explained later), confirming that the voting system work perfectly fine.
Only has 7 consensus nodes!?