You are viewing a single comment's thread from:
RE: SMT Burnup: End In Sight
I own PAL tokens because Aggroed says I do.
I own STEEM because all of the witnesses agree that I do.
I own PAL tokens because Aggroed says I do.
I own STEEM because all of the witnesses agree that I do.
Doesn’t really answer the question 😏 I just think that for new users it will be confusing to see both Steem Engine tokens and also SMTs and it will likely be hard for them to make sense of them all and understand why we would have 2 competing token protocols.
They are not competing, Steem-Engine is a second layer solution on a sidechain which gives more flexibility compared to SMTs that will be built on the main layer, which I think makes it more robust. Both have their own use cases. I'm anticipating that many Steem-Engine tribes will be shifting into SMTs though, once they're released.
Interesting, thanks for letting me know!
It actually does, what he means is that smts are decentralized, whereas steem-engine tokens are not. So with smts you really own your tokens and can trade them as you wish, if tomorrow the centralized server says you have 0 pal, you have 0 pal, because you don't own your tokens, very much like the money in a bank, if tomorrow a bank freezes your account, you can't do anything with your money anymore (centralized entity) whereas if you really own your money, no single entity can prevent you from doing whatever you want with it.
Ultimately I expect steem engine tokens to switch to smts.
It will be interesting to see how things play out. I don't think decentralization is an on and off switch, I think it is more like a sliding scale. For example, Steemit Inc deciding what happens is not the definition of decentralization, it is nearly decentralized but it is still a governing body making the decisions and then the witnesses decide to run the software. Just some thoughts of mine. I am glad that so many people are chiming in about this but still quite disappointed that I have been leaving comments like this on Steemitblog posts for several months now asking them for their views and I have still yet to get anything out of them. I just don't like how they pretend that S-E doesn't exist, I don't think that's right...