[ANNOUNCEMENT] GAB.AI, MINDS.COM, MEDIUM AND OTHERS CAN NOW ON-BOARD ON THE BLOCKCHAIN AND HAVE THEIR OWN TOKEN
Dear reader,
Alternative social media platforms are under attack. The ability to speak your mind is fundamental to a free and open society. Not only google can remove your site from it's index but the thought police can go after your domain provider just like when GAB.AI was forced to censor a post after registrar company issued a threat.
This is why it is important to get Gab.ai, Minds.com, Medium.com and others on the blockchain ASAP.
Please retweet my post on twitter to get their attention. (link here)
The Future Is Now
The technology that allow the next generation of social media sites to on-board on the blockchain is here! Steemit Inc just released the whitepaper on the new SMT (Smart Media Token). This is a very important development in the industry and everyone who's in the field should read the whitepaper.
If you are not a steemit.com user and you don't know about the STEEM blockchain, I highly suggest reading the bluepaper. In short, the STEEM blockchain has proven for almost 2 years now that we can do social media on the blockchain with success. Steemit.com, the proof of concept website is now in the top 2000 websites in the world. But in short, STEEM has
- No Cost of Transaction (No Fees)
- Instant Transactions
- Can Scale to Your Needs
- Reward users who posts content and curate content
But before Smart Media Tokens, there were not a lot of incentives for already existing platforms such as MEDIUM, Gab.ai and others to join. Now there is.
How It Works
With Smart Media Tokens, now Gab.ai and others can fund their operation quite easily without depending on donations. All they would need is to create a token on the STEEM blockchain and then issue it just like a ERC-20s token on ethereum, decide of the perimeter that fulfill their needs, have their stash of "founders coins" and then integrate their own GAB token on their website. Boom! Now they have:
- Funding for their business
- Have a distribution mechanism for their coin
- Instant monetarily value via the Steem Decentralized Exchange
If they wanted to and take it to the next level, they could have all their content on the blockchain and also benefit from the arbitrary reward system that allow the platform to get a % of all rewards on their site.
Last Words
If you or someone you know want to onboard your community, a forum or a social media site on the blockchain please contact @andrarchy on steemit.chat or send him an email at [email protected]
Also, Steemit INC has created a landing page: https://smt.steem.io which is worth looking at.
PS: Please Retweet This Tweet For Me. Thanks
PS(2): Want more information about Smart Media Tokens? Follow the #smt tag and discover what other people think about the SMT token. @donkeypong also has a wonderful article about the end of the paywall that you should check out.
An SMT will be traded through STEEM, so we won't have a bunch of SMTs and STEEM just one of them. We will have STEEM, and then a bunch of SMTs on top of STEEM. Market-wise, this will most likely boost demand for STEEM, as a token.
Also, the SMT generation mechanism is way more complex than just a token issuance on the Ethereum platform. When you launch an SMT, you literally launch a thin layer of Steem-application-processes on top of your content, including your own rewards pool, your own inflation model, your own voting and curation algorithms and your own vesting mechanism.
Hope this helps.
SMTs change the game. They can monetize most of the Internet. The sites that implement these tokens early will have an advantage.
heres 15 cents @donkeypong so your comment can be over $1!
SMT seems to be why steem is up 15% today! this news is making whales stock up!
look at this awesome recent upswing!
wow looking good! steem is strong and this news and the new official steemit app will make steem hit $10 !
I gotta learn me up on this, ty !
@cryptoctopus,
Actually I didn't know about this amazing block chain technology until I read your post and I checked "https://smt.steem.io/" and found this few interesting news and features about this technology!
We can create our own tokens :O Actually I have no idea how it work but I will figure it out!
Thank you very much for sharing such wonderful information with us! Yeah as you said:
Cheers~
Great stuff
just noticed this from Ned on youtube (I don't think this is in your post, if it is, sorry) Smart Media Tokens: The Future of a Tokenized Internet
... maybe this is on dtube as well, not sure
This is the most excited I have been in months! Awesome post @cryptoctopus!
Thank you for explaining this in a way a layman like me can understand. This is a game changer!
Exciting news, that open the possibility for a new era, sooner than we thought...
Really, cant stop thinking about the implications of this!...
@cryptoctopus - Sir, I don't know a lot about SMT, but it looks like a valuable update of the steemit social media platform. So, I wish to retweet it Sir.
+W+ [UpVoted & ReSteemed]
tell me something
So I'm not sure about how would creating these tokens on the STEEM blockchain would affect the Steemit platform.. I mean: how would it affect processing time, price of STEEM, amount of outstanding STEEM/SBD (would it affect SBD at all?), etc?
all the backend stuff was dealt with. Scaleability is not an issue for now or the foreseeable future. STEEM will be the main token against which all the other tokens will be exchanged for on the DEX...Moon time my friend.