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RE: Appics SMT - Two More Weeks To The First Steem-based ICO
No, this is an app that is based on Steemits Smart Media Tokens. They will be bought via Steem and will most likely increase the value of Steem.
It is a competitor to Steem. That you can buy it via Steem doesn't change that's it's its own crypto-currency.
Personally, I will use both systems and I think many will. What about the Steem from the ICO that will be locked into the internal exchange for stability? Will that not be beneficial for the Steem price?
Do you think that SMT's should rather be done via the community accounts in Steem?
where is the 5% to Steem going?
Probably to community accounts and to very big Steemians but they haven't been specific about this.
Where are the technical detail on that?
Not sure what you mean by that. Community accounts?
I think that should be in the SMT whitepaper. As far as I understand it that allows for a more stable exchange of the SMT into Steem. I will read the whitepaper again in the few days. It has been a few months since my first read.
Community accounts are the hivemind feature coming with the hard fork 20 "velocity" update to the Steem blockchain. That will allow people to transform an account to a community account that will gather people for niche topics around it. I am not sure exactly how that will play out but the account would basically become some kind of decentralized account. If the community is able to find Steem Power delegations than that would probably serve as a nice alternative to SMT's.
https://steemit.com/bitcoin/@amielis/crypto-wxcoins-bbc-749c5413cab63
My sist