SMT Testnet is LIVE
We are excited to announce that the Smart Media Token (SMT) testnet is now live!
You can connect to the testnet by listing testnet.steemitdev.com:2001 as a seed node and by setting your chain id with option --chain-id=46d82ab7d8db682eb1959aed0ada039a6d49afa1602491f93dde9cac3e8e6c32
Entrepreneurs & Developers
This is an especially exciting moment because it means that once the testnet hardforks in SMTs, developers and entrepreneurs will be able to begin playing with Smart Media Tokens in a test environment! This has been 2 years in the making, but the development phase of SMTs is finally complete, and testing has begun.
Testing Philosophy
Testing SMTs is going to be a bit different than testing previous hardforks. The features being added are the most extensive feature set we have ever added to Steem. Most of the preexisting systems in Steem had to be extended to support SMTs. Due to the magnitude of this update, we are planning on an extended testing period to ensure we catch all critical bugs, catch as many minor issues as possible, and to give our developer community as much time as they need to integrate their applications with SMTs.
In the first month or two, we will be liberal with relaunching the testnet when bugs are caught and fixed. The first few of these testnets will have a hardfork date a few days after launch to test the hardfork block. When we feel comfortable with that code path, we will launch testnets with SMTs enabled. Once we feel we have caught the low hanging fruit, we will leave the testnet up for an extended period to give developers some stability in their testing and development.
Hardfork Date
We are not announcing a hardfork date for SMTs because we want to allow for as much testing as needed to ensure a smooth launch for SMTs.
Testing SMTs
SMTs have a number of customizable parameters which enable countless potential configurations. Once SMTs are enabled, and our client libraries updated, we strongly suggest that developers begin experimenting with these different options and testing them in their applications so that they can observe the impact on user behavior. Of course, these will not be “real” SMTs in the sense that none of them will be running on mainnet and all the information will be reset once the code is hardforked in.
Testnet v. Mainnet
SMTs on mainnet will be full-fledged cryptocurrencies with industry-leading features like 3-second fee-less transfers. But they will also feature unrivaled features like Proof-of-Brain which, if tuned properly, can be a powerful mechanism for bootstrapping token usage by turbocharging engagement. But bear in mind that once cryptocurrencies become tradeable and acquire real utility, the way that people interact with them changes and becomes highly unpredictable.
That is precisely why it is so important to test one’s SMT as thoroughly as possible before it is released, because like any cryptocurrency, once an SMT is released, its economic properties cannot be altered without a hardfork.
#newsteem
The added benefit of all this testing will be helping the Steem ecosystem by ensuring that these changes do not negatively impact the Steem blockchain. SMTs represent the single biggest change to the Steem blockchain since the original release! Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies that “just work.”
Onboarding the Masses
We have long said that our mission is to onboard the masses to the blockchain by tokenizing the web. After SMTs, every website and web application will be able to have their own powerful cryptocurrency customized to meet their own needs and maximize their own business and social objectives.
Steem will be the critical computational layer supporting all of these different tokens, while STEEM is the critical financial layer providing transferability, liquidity, and access to exchanges.
So go forth and test the SMT hardfork! We’ll be presenting about SMTs at SteemFest, so if you’re going to be there, be sure to attend our presentations.
The Steemit Team
WOW! That's exciting! Great job Team!
Flagged for copyright infringement
Can I ask which copyright was infringed?
it's a pretty old image are we sure it's still copyrighted?
Also they are not making money from it if you check the beneficiaries
They should have put Mel Brooks as one of the Beneficiaries!
o slick
I am so happy to see this update. This is indeed good news.
Question: For token owners who might want to switch from Steem-Engine token to the Main SMT or simply just want a token name reserved, would Steem inc give room to reserve a token name before an HF?
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
Cool that you are moving forward with this a such a steady pace.
Frau Blücher!
#sbi-skip
Will @ned be there at Steemfest?
@ned has already fled the battlefield. :)
Why? is he a coward ?
I didn't want to say that. Maybe he was just frustrated or lost motivation/energy. I still think it's a pity that the co-founder of STEEM lost confidence in his own idea. I wish him all the best.
who cares @ned ???
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Will @ned be there at Steemfest?
And i request the team to visit @stephenkendal blog, as he is doing great job to promote steem but non of you has given him the support he need, Kindly have a look at his blog. @stephenkendal
He' a great guy and pretty well known. I don't think it's a formal Steemit Inc matter or related to SMT testing however.
But Why he is unheard yet?
Don't think he's unheard of, lots of influential people know who he is.
I think you need to visit his blog and see no one have ever responded to him, on his worries related to steem, Then you will realize that he is unheard.
I talked to him on Twitter, didn't realize he's not getting comments on the blog.
It's kind of rough shouting for the masses to get on board when the ship owners are lapping up mojitos in the poop deck...
yes bro you are right @stephenkendal is awesome person
Good news. Resteemed :-)
Fantastic news to start the weekend. Awesome work..
Boom!!
Use it as collateral for a Steem stable token.
Will set up and give it a go.
Woot woot
Is this the real life?
Is this just fantasy?
SMTs are finally seeing the light of day after years of development. Good job team! Test them good!
Oooh, I read your comment in Freddy's singing voice and the last 2 lines didnt fit :(
Make them fit!
It's not working =(
You just need to turn it.
Damn you
Do what Cookie Monster does. He makes it fit.
Is this the real life?
Is this just fantasy?
Stuck in a beartrap, no sight of the next pump spree.
Open your thighs. Look up to my eyes and SCREAM!
"I'm just a whore, boy! Don't need your psychopathy!"
Upvotes are easy come, easy go, little high, little low
any way the value shows, doesn't really matter til payout to me, to me
Blah blah! Can't hear you, man!
Posting's fun but now I'm dead. Can't afford a f^ckin' bed!
@acidyo and @nonameslefttouse this cracked me up
My only regret is we never got to finish the entire song.
lol, agree :)
im with ya
The most important goal to reach is "Steem to the masses".
I really hope we can obtain this goal.
It's important for this blockchain and also for their users.
Go to the moon SMT!
@steemitblog,
Lol I saw this while surfing at FB :D Okay I am preparing to move there. One of the biggest update I was awaiting for!
$trdo
(Will move TRDO to SMT too)
Cheers~
Sorry, @theguruasia you’ve reach daily limit of 10 successful TRDO calls!
Please try again tomorrow!
"Call TRDO, Your Comment Worth Something!"
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
Good jump. Let's push Steem where it needs to be, together!
Long awaited news. Glad to see that!
I don't know about anyone else, but this line in particular fills me with dread.
"We couldn't actually make money by being a place where people create and share interesting things in exchange for rewards, so we're going to put that aside and focus on selling the mechanisms to make coins which don't even have arbitrary backing."
That is a terrible place to be.
Shitcoins for everyone!
Not really. Content (also art) have always been philanthropic in their survival.
Add to that the inflationary downpressure factors.
Proof-of-Brain is still an integral part of SMTs, and always was ever since first SMT white paper. Even if in itself it isn't part of the Steem white paper (only of the bluepaper).
That's not even true and I'm mildly insulted that you tried to pull that one on me. We literally have 4000 years of human history, several hundred with growing experience of how people in capitalist economies with free markets engage with creators who make content, which says just the opposite. We have a massively thriving music industry, we have a massively thriving entertainment industry, and it's not because they have depended on philanthropy for their survival.
It's because they sold something other people wanted and were allowed to do that selling and buying.
Steemit apparently hasn't been selling something that people wanted to buy, and that's not a failure of the philanthropic urge ? it's a problem of not having something that people want to buy, and then creating more pressure on creators to do something else other than create and share that content.
So that's just wrong.
And to continue the theme, that just doesn't work. Proof of Brain does not work. We know this because we've looked at the reward patterns on the Steem blockchain over the last several years and POB just was not and is not part of the way that rewards occur. As an element of the way the system works, POB doesn't.
We have widespread market interaction by bots, and while they have taken a little bit of a hit lately ? it's more of the nature of a minor ecological shift that will rapidly be overcome once more by the next generation of bots. It is still far more valuable to play bot games than it is to make content. It is still far more valuable to engage in a gambling minigame than it is to make content.
That's not proof of brain. It never has been.
Which is an orthogonal issue, unfortunately.
The upfront issue is that Steemit Inc. couldn't make a solid living even when they had all the advantages of the world in courting content creators with messages which centered on "come make big bucks!" Now the idea is "come pay us big bucks for the opportunity to build your own alt.coin which neither you nor anyone else will actually understand how to tune or make do what you want to to build a Community so that you may can make big bucks!"
There is a deep and painful logical abyss lying right at the middle of that. It would be nice to see more people address it.
Dude, stay insulted but content is needs to be made transactional. Otherwise, you’re philanthropy. In fac5t... you are. And that should insult you so you can come out of your delusion.
Get over it.
Thousands of issues but overestimating the financial traction of creation is definitely among the main ones. Once you actually understand that, then you will be able to start looking for “oh shit, no... we just can’t keep hoping that this cool community with peace and war length novels keep churning out revenue for our beautiful eyes and words. Or proof-of-brain because I am yet to see much brain here. (I only read your first paragraph)
Your words are useless until someone sees value in them. Attacking Steemit Inc for their failure... yeah sure, why not. Don’t forget to read the SMT WP tho.
how dares he?
I agree, when you get down to the value of Steem, if it has any value at all, none of those values relate to the current direction.
Steem has a value in immutability, which is true only for text. This means that authors cannot be muted in the written form, however, de-monetization is still possible on the Steem blockchain via whale flagging, downvote tools/trails.
So, what is the key value? If it is the immutability of text, well, SMTs do not help with that. So, if a team wishes to make their own token they might as well clone Steem rather than make an SMT.
Now, if the value is monetization, or protection from de-monetization an SMT could theoretically work. However, what is the value of that token? Why not just buy a t-shirt from the content producer or look at an ad rather than buy a Joe Rogan Token?
Steem's value as I see it was that it had the potential to be a universal tipping protocol. Like a decentralized patreon where you could upvote or delegate to your favorite folk online. In the concept the value of Steem was its universal-ness, including the universal application of its currency as the primary means of reward. Split that up into thousands of no-name tokens and people are really going to begin not giving a damn.
SMTs can let people do clever stuff, so they should exist. But I expect no big pump due to them.
Who told you that? Journalism? Books? Movies? When has this been the case? Confusing your post.
Salvador Dali and Van Gogh -> dependent on maecenas
Stephen King -> his “rejections nail” is legendary which merely means the publisher didn’t see any opportunity in the content attracting. Same with every book ever rejected by a publisher (didn’t believe it would sell sufficient).
This has always been the case about creation. That particularly you never knew that baffles me.
That isn't how it works in the US. I don't know what you are citing. Do you have some sources?
Can you please elaborate on “it”, because that’s how publishing [words] works.
If you’re a journalist, you are whether employed/assigned[transaction!] to write a piece about a topic the publication wants covered or you pitch a story and the editor will assess whether they think it has value [if you pitch a movie to Amazon or Netflix, value can possibly also be whether it will sell more subscriptions, like the recent “El Camino” may have resulted in Breaking Bad fans returning to Netflix or any movie/series released by Amazon is yet one more reason to subscribe to Amazon Prime).
If you’re a book author, you pitch and the publishing house will assess on whether they think it will generate revenue [yes, some publishing houses also assess based on snobbery first].
If you’re a (self-publishing) blogger, you have a toolkit available nowadays which has democratized access to [transactions] ads. The topic often defines the eCPM. If you’re a hired gun, your employer [hopefully] makes the content transactional (ads, services, products).
If you run a popular tech blog you will have a higher eCPM than with a blog about... writing. But with the latter you can sell consulting services [making content transactional].
Please elaborate “it” in “how it works” because I have a background in publishing. The words you publish are not worth more than when they are written on a piece of paper and stuck on a lantern pole unless... a mechanic makes them transactional. Sales, services, signups are all possible methods to make the words worth something financially.
In the context of crypto... failing transactional token utility content is the same as the wealthy owner family. Philanthropy.
The WAPo was loss making but family owned until recent acquisition. Little more than a century ago, Hearst expanded his “yellow journalism empire” and could thus sell more display units [making content transactional]. Initially, his expansion was backed by family capital though. But it made his publications less dependent on local advertisers only, because he could sell display units in multiple publications interstate. At the same time, he also owned a large part of the “life cycle” of publishing being a large scale forester. Thus he could purchase paper cheaper than others, the combination of all which allowed him to hire away Pulitzer winners and some of the best authors in modern literature.
Because he sold.... ads on cheaper paper.
All of that is making content “transactional”. Without that it’s philanthropy or the maecenas story. Or maybe I don’t know what US you are referring too because there’s capital flow behind every word published. At least targeted.
Bonus edit: Perfect modern times example is Medium and its struggles to become break even, let alone profitable. Interestingly enough, that struggle is a red wire through Ev Williams’ internet career (blogger sold web space and domains yet wasn’t profitable, twitter wasn’t profitable in his time, Odeo most even don’t know he had a venture between Twitter and Blogger, and Medium’s struggles despite $132m VC funding are well documented.
The three examples I briefly replied to above, all have reference examples merely a keystroke away.
You can sell directly to the reader or consumer.
You can sell directly to the reader or consumer. Crypto makes it even more sophisticated because you can sell content in a different way. We just haven't seen these platforms become innovative yet with derivatives which is what I'm suggesting in my posts.
That’s still making your craft [words] transactional. You sell.
But we agree, as I saw in another comment of yours: shitcoins backed by nothing.
I totally get why you feel this way, but it's not at all what we mean. Content sharing and rewarding is still going to be a huge part of Steem. But in order to make content rewarding work even better, different communities and organizations need to be able to determine for themselves what is valuable and what is not. In order to do this, they need their own token which symbolizes their unique subjective valuations. Another benefit of this is that the added experimentation can help inform the base token and layer.
But while we were thinking about these solutions, we realized that there was no technical reason to limit these tokens to the use case of content sharing and rewarding. That would be an arbitrary limit on what Steem can be used to do. An SMT can be used to solve any of the problems people have been claiming blockchain can be used to solve, but which are limited by long/variable transaction times and transaction fees.
In short, I wouldn't say that the role of content sharing and rewarding is in any way diminishing. In fact, it will be getting a huge upgrade. But at the same time the role of Steem as a financial layer that can add tremendous value to the global economy is increasing as well. Since this wasn't something Steem was used for in the past, the delta is larger.
That seems a fair response, but I have some issues with it and with choices that had been made along the way.
That's lovely, but it didn't take two years and the planned implementation of SMTs to do any of that. If there was a real call for and interest in promoting content creation and distribution in ways that have been proven to be successful, what we needed was Communities implemented in a way which was transparent and usable on the blockchain. Simply providing the tools for user self organization and proper curation would have sufficed, taken only a few months, and been long done by now.
Moreover, I find it interesting that there is suddenly a recognition that "organizations need to be able to determine for themselves what is valuable and what is not" in light of the fact that the entirety of the Steem blockchain and its reward mechanism is based on the top-down assumption that the more people who "think something deserves reward", weighted by stake, is better than any small number of people deciding where that allocation should go. This particular change in policy and vision represents a much larger pivot than anyone is actually going to talk about because it's an essential repudiation of the underlying expectation of Proof of Brain on the Steem blockchain.
I don't expect that discussion to happen.
Which, according to the traditional in-house propaganda of Steemit, don't exist as problems here. After all, Steem itself has been promoted as a blockchain with extremely short transaction times and zero transaction fees. If the blockchain as a whole hasn't been sufficiently valued because of those traits, why should a cavalcade of alt.coins based on the blockchain be considered any more valuable? There's a little bit of Three Card Monte going on in this description. It is entirely upbeat without actually supporting a reason for it to be.
If an SMT can be used to solve any of the problems people had been claiming blockchain can be used to solve, then Steem itself can be used to solve any of the problems people have been claiming blockchain can be used to solve ? and you are stuck explaining why that hasn't happened.
I would be a lot more sanguine about taking this at face value if I hadn't already lived through the last couple of hard forks, both of which made things much, much harder and much, much worse for content creators ? deliberately so, to judge from the discussion around and between developers and witnesses regarding the motivations for the changes that happened. The role of content sharing and rewarding has been being deliberately cut, and if you need one shining example, look at the rewards for curation versus creation that we are now dealing with. The creators hardest hit are the ones down at the bottom who are spending their time creating content and thus don't have time to sift through the vast rafts of crap that it takes to do what is considered curation on the platform.
This is very much a case of "don't tell me that it's raining."
How is any of this, outside of hollow corporate speak, supposed to be an improvement for "the role of Steem is a financial layer that can add tremendous value to the global economy" in any way? The actual infrastructure is the same. You might could make a good argument that the time spent pulling the server apart into smaller pieces which can run in RAM was a good investment of time, and I might even agree with that. However, all of this jazz hands around SMTs and how they are supposed to improve the situation for anyone, especially communities, is bad performance art.
Ultimately, as it stands, SMTs are one more time sink for people who have extra funds to buy their own custom coin name and attach it to a forum. With that comes a vast amount of "no one actually understands how coins are supposed to work, what they are supposed to really do, and how interaction will occur, and ultimately the only impact will be moving stake between big stakeholders."
SMTs needed to be decoupled from the idea of Communities two years ago, when it might have made a difference for creators and consumers to be able to find each other and thus mutually make content creation and content consumption rewarding at a real level. Now they, like Tribes, just look like one more way for whales to play whale games and skim a bit of money off the top on the back of creators.
And that's a terrible shame.
The really funny thing is as much as I disagreed with Utopian.io in terms of public policy and sometimes even underlying philosophy, from a technical point of view I thought that the way they were able to break out their own community, with its own technical infrastructure, present a filtered view of the blockchain, and manage what ultimately was real curation of content was the most promising thing in that field that we've seen. And then, rather than have that approach taken up by Steemit as a way forward to build actual Communities, it got burnt to the ground.
That is a real problem and it's one that has been very long-standing.
Whoopee, we can make alt.coins on the Steem blockchain, catching up to Ethereum of several years ago. And it's done them so much good.
From the perspective of creators on the platform, things are not looking better. The real problems that they have been fighting with continue to get ignored and if they are seen, hand waved away as unimportant while the platform continues to forget that no commodity has a value unless it's backed with something that people want.
If the goal of #newSteem is to fully fall into understanding that what people really want to pay for is getting votes and rewards for voting and not creating content that people like and want, let's just say that outfront. Let's be honest. It will make the whole process much less painful. If the goal is to actually provide value that people can find, consume, and reward ? then let's do that, and stop laying a smokescreen.
Over the years, I have been alternately impressed and horrified by the technical acumen of those who are working on the Steem blockchain in an official capacity. But I have more consistently been horrified at their inability to understand and commit to the policy the system is supposed to implement. From the obsession with "don't cash out!" which essentially just means that creators shouldn't actually get use out of the funds that they receive to the absolute obsession with avoiding anything like what has been proven to be a functional and useful structure for social media platforms over the last decade, the overall movement has been worse than disenchanting or alienating ? it's been self sabotaging.
That appears to be continuing.
I get it, you would like a bunch of people with disposable income to drop some of it into the gaping morass of value that is the Steem blockchain, which painfully squandered its value in relation to other cryptocommodities by deliberately ignoring the one thing that gave it a backed value ? creator content. So because you drove away the majority of creators who didn't want to just create things for a single audience on a single topic, you want to move on to selling votes and alt.coins as the New Hope. I don't want it, but I get it.
If Steem itself did not act as a financial layer that brought tremendous value to the global economy, splintering it with SMTs will not make it more valuable or viable. If the technology it brought to the table didn't get leveraged, it's not going to. SMTs do not change the essential problem of cryptocommodities in general and Steem in particular ? that they need something to sell in order to be worth trading.
Perhaps you think SMTs will create a channel through which you can sell Communities ? while ignoring the fact that the competition has moved on without you and done it for free. If I can pay to create a Community and still be stuck with reward distribution as it is done on the Steem blockchain within that Community, how in the world am I supposed to compete with the fact that there are actual free-to-create Communities out there where people can share content of common interest, free of the ridiculous overhead of trying to understand Steem blockchain mana/RC/upvote pool/downvote pool/vote percent/etc./etc.? I can't even provide the convenient lie of "there's a chance you will make big bucks, or even moderate bucks that you can spend on a regular basis."
Because it just ain't so. In large part because of decisions made by core Steemit Inc. developers about how the blockchain works.
I appreciate the fact that you've taken the time to reply to me, but I wish that you had taken the time to actually reply to the issue I pointed out.
This is a bad place to be, and I mean that on multiple levels. SMTs aren't going to change that and that's a terrible shame.
Have you ever been paid to be entertained?
I get paid to write for professional outlet. I've been paid to write books. I have, on more than one occasion, given money to someone else to receive an entertaining event.
Usually when I do that it's with the understanding that money will actually go to buy them a drink, food, or their own entertainment, just as they assume the same for me.
Good luck getting that around here, however.
Have you ever been paid to be entertained?
No. My name is NOT Enterta!
Oh, my apologies. You looked like someone I know.
It's okay. I get that all the time.
I guess you are also not "Duck"
Unfortunately, no, and I can't say I give a duck either.
Those are some valid points. I dont really believe that SMTs will bring upon any great change to STEEM or that they will be a game changer in the crypto space but i still see them as a massive improvement to the overall ecosystem of Steem.
They will provide options just like Tribes did.
Maybe try seeing it like this:
What is better?
I think the second option is.
SMTs should have come 2 years ago, that is true, but even if its late its still a positive addition that might or might not affect price.
You can already know what to expect from SMTs based on Steem-Engine tokens but even those Steem-engine tokens provided some value overall.
We cant let ourselves be stuck in this frame of mind:
Any positive addition is good and it shows growth.
On your remarks about content creation and creators i agree to a degree. I will comment on how creators in specific areas arent appreciated as some of those that write steem topics but i will chalk that up to the platform being small. Interest always seems to move to that which is appealing to the broadest audience and on Steem that is the topic of "Steem".
On one side of things i know i will never be able to top the trending page for those exact reasons and in my 2 years here i have maybe once gotten to top 10 and i think im pretty good at what i do. But also i have to say that Steem is the reason im a content creator at all. Steem bought me my 200$ mic, my 100$ lighting, mic stand, it will pay for my 800$ camera. It motivated me to learn to work in audacity, in Da Vinci resolve, how to cut and edit videos. How to improve my skills and knowledge on things i knew nothing about.
All those things you said about content creation:
....it might be true, but lets not for a second dismiss what Steem has done for content creators like me and others. Steem provides value for content creators, it might not provide it at a high efficiency, but indeed it does..
Just wanted to chip in. I havent commented in a while. :)
the gulag awaits...lol
SMTs have potential for communities if those SMTs enable revenue sharing.
Hi
Does this statement from the above news release mean a major change in the platform is coming?
Thank you
Thank you for clarifying the statement.
Thank you for clarifying the statement.
I have another question. How are SMTs different from SE Tokens?
Thank you.
SMTs are part of the chain. SE relies on independent software.
The marketing-speak is strong with this one.
Steem needs a derivatives platform built from SMTs. Start with a stable token at least as good as multi collateral Dai. Figure out how to do what Compound is doing, and add compound interest on top of that stable token. Let the stable token be used for rewards and for people to store their life savings. This would be a start to saving Steem.
How can we expect anyone to put their life savings in Steem Power or Steem when the price isn't stable? If I earn wealth on Steem and don't immediately take it off before the whales sell then I lose it all. I know this from experience already which is why I'm one of the people saying we need a stable token and derivatives.
That stable token is SBD. It sucks at what it does, but Steem did try. Is it possible to make SBD stable by using STEEM as collateral to create it the way MakerDAO does? Possibly, but you have to understand that even though ETH is not stable, its way more stable than STEEM is.
Asset valuations matter, because if ETH went up and down in price a lot, you would have many CDPs (collateriazed debt positions) get dropped. So, the way this would work is that you would have to mint more STEEM as people ditched their debt and you could have hyperinflation.
Part of why it works with Ethereum is that it is the second biggest blockchain in value and status. As far as cryptoassets go, ETH is stable, and it is also essential to the functionality of dapps built on Ethereum. Ergo, it has an underlying value, while STEEM's only current purpose really is to beget more STEEM. Slap a MakerDAO system on it, especially with its current inflation rate, and you'll probably only create a hyperinflating currency that loses momentum faster than the Roseanne show without Roseanne.
This is an amazing comment. Thank you.
I like especially how this comment shows how silly it would be to split the econominncs of Steem power with the Resource Credits of Steem Power. They are both valuable, viable and important uses, and I do believe STEEM would be poorer for a split if it ever happened.
#STEEM is the SPINAL COLUMN of an entire world of possibilities!
I completely disagree and also find it worrisome that you seem to assume this to be taken for granted or obvious.
It is only true if you assume that proof of brain is going to be used in a community, or that it is a good idea to begin with (fewer and fewer seem to accept this notion). Communities only need to be able to determine their own distribution rules. This does not require a new token, and imo it would benefit everyone more if it instead used STEEM.
Exactly. Useless coins and nothing backing them? Its one thing if SMTs are backed by securities or if we have just one working stable token as a proof of concept but we don't even have that so it's hard to know what they'll do with SMTs. You can do derivatives with SMTs but I don't see any proposal planning to offer derivatives on Steem.
Excited to see how all this plays out! w00t!
@steemitblog,
Can you please write step by step guidance about how to join testnet for SMT? I think it's essential for people who wish to try & test this!
Cheers~
👌
Awesome!
Lets make Steem the number 1 blockchain.
Posted using Partiko Android
Great work team ;)
I like to think of Steem Engine as an SMT testnet as well. Any projects looking at building on Steem and launching an SMT probably have (or should be) already experimenting with SMT-like functionality on Steem Engine.
Im hoping you guys have some sites in line to adopt this.
There is something i always hoped for and that was that steemit inc. would create a facebook type comment section that could be easily placed under a post on various websites that utilize the steem blockchain and reward the commenters.
That would be a major step towards mass adoption and something that would easily rival what facebook did.
Why hasnt anyone tried that?
Its exactly the same as what facebook did, but you can earn $$$ unlike with facebook.
The problem with SMTs will be the value proposition. The token only has worth if it has utility.
Steem rewards contributions based on proof of brain. Smts will have to go beyond that since Steem itself hasnt nearly achieved its potential.
The advantage of SMTs is that you can kinda see it as a new start. You got a limited quantity of SMTs which are only used to reward a certain kind of content, then you have to create value for this SMT in order for users to want to receive it.
While Steem is so much more around it.
Sure. But we have seen something similar with steem engine.
Smts will be basically the exact same thing from the consumer side.
Creating value is the hard part.
My point is that Steem itself should have been what SMTs are marketed as.
SMTs are simply ERC20s from a consumer point of view.
My question still stands... Why hasnt anyone created something similar to what facebook has in its comment section.
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Oh I agree, there should be an easy way to put a steem "like" button under your stuff anywhere, and an easy way to put a steem comment section.
As far as I know steempress is going for something pretty similar but for all wordpress forums.
Ive seen it with @scripsio that runs with @steempress but the comment section seems very clunky and hard to navigate.
It seems to me that it should be a major thing for the steem ecosystem and something that Steemit.inc should not only put dev power into but also shill as the prime addition (if ever developed by them) alongside SMTs.
I think they arw on it...
Posted using Partiko Android
This is actually the first example listed for use cases on the SMT website, https://smt.steem.com
Take a look 🙂
Is that sort of along the lines of what the Brave Browser is doing with allowing twitter users to be "tipped" for their tweets?
Umm... Did StInc not realize that the community has already fulfilled this years old promise, with Steem Engine. Nice try guys, but you're a little late. Once again, centralized organizations prove too slow and ineffectual to compete with self-organizing humans.
The problem is that steem engine runs on a centralized server, which is not all that save
Hey Kenny! Long time no talk! I think it has been about three years, and we argued back then. LOL!
Those of us who embraced the community building powers of Steem Engine got a head start and these same communities that exist now will be able to tap into these SMTs as well, and benefit from the headstart. It would be silly, in my opinion, to choose one over the other when really, it's all the same and these communities can benefit from both. Not much benefit in taking sides, creating teams, red vs blue and all that other yadda yadda yadda. Self-organizing humans are great until they start dividing. Know what I mean?
Great news! :)
Just 3 little simple questions:
SMT is less like ERC20s and more like Bitcoin Cash's SLP tokens. The point is that they are easy to make and use for non-developers. ERC20s can also be made by non-developers as well, but many average joes do not know that.
ERC20s can do almost anything a developer can think up. SMTs will be very limited, but able to be created without spending large investments on development.
Steem for the win
Wonder what will happen to steemengine and the tribes when smt are implemented in mainnet.
Good question.
Thanks you me happy nes ubdate it your post
Individuals/companies with known Steem-Engine tokens, aka STEM, AFIT, LEO, PAL, etc should have first dibs at creating those SMTs in my opinion. Otherwise it will just be a huge clusterf%$k at the beginning with people staking claims to all the known coins just to hold the names hostage and cause massive confusion.
Along these lines, are certain coin names on a blacklist? Like Bitcoin, etc. I remember someone made a Steem-engine bitcoin and it caused some issues if I remember correctly. Avoiding these issues should be a huge discussion otherwise everyone is going to try to steal grandma’s savings. I am not sure what the fee to create an SMT will be but I vote that it should be relatively high to avoid just a boat load of Shitcoins and behavior that we really don’t want to see. For instance, COKE and PEPSI coin should not be one of the first two coins created if you get my drift.
Yeah there should be rules, like if you try to register COKE you need to be the company! What has to happen is steemit needs to register the lot of them and work with the companies later and make a killing selling them their coin! Or they could be nice and hold the names for the real companies if/when they do decide to need a coin! OMG this is going to drive STEEM to the MOON one more time! lol
Totally agree.
agreed!
As I understand there is no name squatting risk, as all SMT's are uniquely represented by hexidecimal codes and not a ticker symbol.
I am glad that reduces squatting rights, but how will the internal market work? Will trades be based on these numbers? Because that seems not very user friendly. What happens if I make SMTs with the same short name (e.g. HUNT, PAL) and place them on the open exchange. Will people have to know that my PAL is a different string of numbers vs the real PAL. Do you see where that gets very confusing and would turn people off? I am assuming this is not how this will work, so I more bring it up so I can get some clarity on how the system will work in real life. If this is how it will be designed, then I think opening up the discussion is important.
Waves uses a two-tier system where approved tokens can be found by the ticker name in the DEX, and other tokens by the long ID. That works pretty well. I think that's a reasonable compromise between reserving names and the freedom to create any token.
Awesome! Totally agree with something like this.
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Wonder what will happen to steemengine and the tribes when smt becomes live in mainnet.
My INCOME token will not switch to SMT. There will still be use cases for SE.
you speak my language :)
If you want to set up a testnet node, here are the general steps (this is how you do it in general, but it helps to know how to deploy your own):
https://developers.steem.io/tutorials-recipes/setting-up-a-testnet
Once that's working, here's how to wire your testnet node into the official testnet (you can skip right to these steps if all you want is to connect your node to the official testnet):
https://developers.steem.io/quickstart/#quickstart-testnet
Update: It appears that Ubuntu 16.04 LTS is no longer supported for these steps (wrong version of boost). Maybe boost-1.65.1 can be installed on Ubuntu 16.04 if you bypass the package manager. But for these steps, at least at the moment, it is recommended to switch to Ubuntu 18.
They posted this announcement on Facebook which is good BUT nobody is moderating the comment section and there are a ton of comments about recieving free Bitcoin from them.
Can you raise the idea of making me a moderator and possibly others, and we can moderate their Facebook comments for free @inertia @theycallmedan @stackin
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Thank you for sharing good tutorial.
But, I want to test making token, not running testnet node.
Could I make smt token on testnet while not running testnet node??
It is possible. The blockchain supports it, but there's no tooling for doing that right now. In other words, nobody has written a UI yet. And the tools that the UI would need have to be developed.
you are an hero!
do a video on smt ,, what can we don with them,, how they can ad value to steem blockchain.
Can't really do a video. It would just be a screen of text right now. Here are more details, though:
https://steemit.com/steemdao/@inertia/proposal-39-devportal-documentation-update-smt-research
I made one :) Please enjoy.
good
On steem?
Self proclaimed community watchdogs are actually hacking and stalking people.
This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom.
My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.
This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.
With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.
This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.
Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
Hi,
I keep reading that SMTs are easy to set up, even for entrepreneurs without developing skills...
Now I can connect to the testnet by listing testnet.steemitdev.com:2001 as a seed node and by setting your chain id with option --chain-id=46d82ab7d8db682eb1959aed0ada039a6d49afa1602491f93dde9cac3e8e6c32
If this is your idea of a user-friendly instruction, I'll be damned xD
Can someone elaborate and provide a step-by-step instruction as how to access the testnet?
Thanks a bunch!
We are not there yet, right now only developers can play around with the code (with the testnet). Once that phase is complete (which can take months) and the witnesses are confident that it's safe to deploy the code in a live enviornment then we can talk about setting a date for a hard fork and develop the user interface(s) where it will be "easy" for non-developers to setup an SMT.
In the meantime those of us without developer skills will have to wait.
@btc-echo
Good news. Hopefully they will bring some value to this place.
Of course
Very good news for us.Best wishes for the team.
This is good news.
This is good.
There we go! I sure hope this helps to increase the value of Steem from its epic low point now!
Please save Steem!!!!
Posted using Partiko iOS
Great news 📰, i restemm
!BEER
View or trade
BEER.Hey @steemitblog, here is a little bit of
BEERfor you. Enjoy it!Let's move forward. Forget voting
@tipu curate
Upvoted 👌
It is an honour for steemit to be the bedrock of this token and it would not be let down
My testnet witness is up and running and already produced block 134844 :)
!trdo
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Could you give me some examples or tutorial?
I don't want to setup testnet node. I just want to try smt token creation.
Without running testnet node, can I test smt??
Finally! we've waited this for a long time~
I wonder how SMT will affect Steem-engine tribes, though I'm interested more in seeing how it'll affect STEEM price!!
Good news. After SMTs launch we need need need to fix and upgrade the Steem Dollar. We need a stable token which pays interest on Steem.
https://steemit.com/steem/@dana-edwards/will-steem-developers-fix-upgrade-the-steem-dollar
Would the Steem team ever consider running a permanent test net with a dedicated UI? There is a technical barrier in connecting to the test, which significantly decreases the number of participants in testing phases.
Yes. As we get farther into the testing phase, we will likely run a UI for creating SMTs as well as (a bit later) an updated testnet condenser. Before doing a UI we first need library support which we are currently working on.
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Thanks for the post.
I somehow agree with you @steemitblog that steem will be the critical computational layer supporting all the different tokens. but somehow your wordings are getting compromised on my side, is it that STEEM and steem are two different things here? I think that they were basically established to serve the unique functions for which they were introduced.
Pls can you clarify me on the difference between STEEM and steem and is each assigned a peculiar function to admit?
"Steem will be changing from a platform for sharing and rewarding content, to a platform for releasing state-of-the-art cryptocurrencies"
Where does that leave us, the content creators? Should we stop investing our time and effort on Steem, now that it is changing into a platform to release new cryptos? How about curators with money invested here, who believed in rewarding quality content? Should they pull out?
Was this paradigm shift in blockchain direction discussed anywhere, before being snuck into this post like an afterthought?
Nothing is planned to change about the mechanics of the base STEEM token with the roll out of SMTs - this statement just means that Steem will no longer be a one-trick-pony. If others wants to launch a new token that has the same (or different) features as STEEM, they will soon be able to do so. This vastly broadens the use cases for the Steem blockchain (even beyond social networking).
On steem?
Self proclaimed community watchdogs are actually hacking and stalking people.
This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom.
My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.
This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.
With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.
This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.
Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
Not true if exchanges are dropping STEEM. When Exchanges refuse to run a STEEM node, then SMTs running on STEEM blockchain have no chance to get listed on those exchanges. What will you be doing to prevent further STEEM delisting and get STEEM added to new exchanges?
Shh don't ask real questions. They will blacklist you. However, YES.
great
you are hero
what about steemfest
https://golden-farm.biz/?r=1284064
Interesting news
http://myaddsup.com/index.php?r=abojasim
What makes SMTs any different than the tribe tokens that are already in existence?
Steem-engine is a private, centralized side chain. SMT's will be consensus and baked into the blockchain. That said, SMT's do not necessarily replace all uses for SE tokens.
Wow finally. This is such a big step. Let's hope people will find the potential this brings and Steem to the moon. :-)
Airdrop is ended or coming?
use your crypto to buy mobile TopUp --- www.kandimobile.com
Who will buy a token under the Steem umbrella when no one even wants Steem including exchanges? That is like the bank in Venezuela printing coins that fall under their currency. When no one wants the currency in the first place due to hyperinflation. This is just a last ditch cash grab for your sheep who sniff the butt up ahead and jump off the cliff with their wallet. Nothing more than followers, yes men, and mindless zombies.
G'day mates!
Through your article or content, I have learned new things. Good work.
Great news indeed
!sbi status
Sponsored ( Powered by 中国银联 )
Hi @zmx!
Structure of your total SBI vote value:
Take Control! Include
#sbi-skipin your text or tags to have us skip any post or comment.When are you going to update Steem-JS and/or Steem-Python ?
Do you expect me to use cli_wallet ?
Good
This is amazing steemit is making my day.
Agree
I have a genuine interest in the SMT and the possibility they may provide on a much wider scale than just to the benefits of the Steem chain itself. It is possible some projects will bring much more then they originally drain if supported. (Different topic though)
Is there an option for a small community to be a part of this testing, by experimenting with the running of a token on a small scale to catch some bugs which may be hidden in other circumstance?
Tom.
Any docs how to integrate an app with SMT available? Not even mentioned in an article...
On steem?
Self proclaimed community watchdogs are actually hacking and stalking people.
This group https://steemit.com/@steemspeak is ran by https://steemit.com/@fyrstikken, They are hacking people that enter this discord server https://discordapp.com/invite/sqxV63P . Once you are hacked they profile you long enough to know all of your activities. They introduce workplace gangstalking visits and bring it to your attention cleverly and discretly so only you get it. They are very covert and tricky with everthing they say and do in this server. Some claim to have worked for or are working with the FBI and the NSA. Mixed with decomisioned traders and coding criminals, Its a scary mix of creepy people and thier intent is to drive you crazy and deplete everything you have ever aquired in life, even your freedom.
My hacking started with them introducing ransomeware that has options, dump my coin or delete my system drive. They acnowledged this to me in the server as it happened.
This hacking and stalking is done so they can manipulate the target to pump and dump for them. Threating and Making victims wear head phones, so nobody in your household can hear thier dramitization towards you. In 2017 this server was sidemarked as a drama show for entertainment purposes only as en excuse to say whatever they want all the way down to killing a politician. They have a server side command called "hey asshole" making a promt come up instructing everyone to wear headphones. They want everyone wearing headphones so nobody in your vicinity can hear them mess with you. Fystikken says its because of "mic feedback" but once your a target you get exactly why they make eveyone wear headphones.
With headphones on they subliminally direct victims with very low suggestive whispers mixed into their radio shows music. Combine this with them being able to manipulate their own individual outputs sound volume, which they control on the server side, they can pick what individual people hear and what at any given time. They decide who you hear on the server and change the volume controls for them. They can make some really low or off for those trying to investigate. They control who hears what and know who is who.
This team will find absolutely everything they can about you prior to using thier sugjestive and threatning program. They Introduce pictures that mean something only to the target, inducing paranoia while they watch and listen thru all of your circumvented devices. They are very aware of what makes you tick. They know your work schedule and use it for work stalking along side of this. I received multiple threating letters to my work and home addressed to my screen name from this group.
Fyrstikken tells people to sell their houses to buy crypto then dumps it on them. He has done many pump and dump scams. Quatloo being one of the first I witnessed and was done multiple times thru 2016 and 2017 them. It should be investigated for fraud. https://bitcointalk.org/index.php?topic=655793.0
Blockchain supports it but we need some tools to move. I love it
@steemitblog Is there possibilites for integration with Shopify?