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RE: Initial Coin Offerings with SMTs

in #smt2 years ago (edited)

Lovely improvement! I’m glad that we’re here finally, indeed this is a dream come true. All thanks to Steemit Team and to Steemians for their support and patience.

But please permit my novice question here.

What will be the fate of Steem-engine Tokens when SMTs is finally launched, or are they totally different entities?

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We think there will be plenty of utility for Steem-Engine tokens. Because they are centralized and use Soft/Emergent consensus, they can be modified more easily and updated more quickly because updates do not require a hardfork. This will likely enable that team to experiment with a lot more features. The features that have the highest demand would be perfect candidates for integration into SMTs. In this way Steem-Engine tokens could become a testbed for SMTs. There will always be opportunities to improve SMTs, but what we don't want to do is add features that have not already been validated by the market. Therefore, Steem-Engine could prove crucial in 1. offering valuable features to the market before they are available in SMTs, and 2. demonstrating the value of those features before precious engineering time is spent adding those features to SMTs. Hardforks are very difficult to execute and so any feature that does not HAVE to be in SMTs, shouldn't be. That should create ample opportunity for Steem-Engine tokens.

Can you please explain how steem-engine tokens differ from SMTs?

SMT's are built right into the steem blockchain and are decentralized. Steem-engine tokens are more like a centralized side chain, someone with better knowledge could probably explain it better.

Solid response!!

That’s a great idea using SteemEngine tokens to test things as they are very adaptable. From what I have read SMT’s are not once launched .

Also do you see SteemEngine communities using SMT’s or SteemEngine tokens?
SMT’s with the ICO feature sound a bit to much for communities to launch as communities more often then not will be looking for a cheap or free community to join rather then funding or paying for one.