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RE: The Future Of Steem: This Is Why There Will Be Tens Of Millions Of Users
I still adore your dedication and commitment to the blockchain. What I haven't figuered out yet, how SMT should be different to any other existing token system like ERC20 on Ether or TRC10/TRC20 on Tron or EOS etc, where Developers can already tokenize their dapps?
Perhaps SMT will be different because the blockchain is free to use without any fees for transaction. Also, it is scalable and has one major feature that both Ethereum and Tronix doesn't: Incentivization. by simply being active over a period of time, users can end up with more tokens/steem than they had. Dapps producers can earn community support for their project through votes. I cannot say the same thing for the rest of the blockchains.
Well, the sad truth is, that as it is right now, I'm much more incentivized by holding TRX and simply vote for a SR and earn passive daily income, that is way higher than "working" hard for it here and writing posts. Don't get me wrong, I still keep on posting my content here, but only because of some people in the community and it is fun to write and comment. But there is no incentive money wise for me on Steem anymore - especially compared to other DPOS chains, where you earn way higher passive interest just for voting.
Another example: I am no big fan of Ether, but even there - just compare the quality of the Steemmonster card game everyone here is raving about to for example https://godsunchained.com/ running on Ethereum.
You don't need to be into these kind of games to realize, that there are universes between these dapps. Steemmonster looks like a game made on C64 30 years ago compared to this. I'm just trying to be realistic here - and so much about incentivization....
Interesting. I'll have a look
What is SR ?
"Senior Representatives" - this is similar to witnesses on Steem but with added benefit. The SR are often not only running nodes, but represent own projects.
BitTorrent Inc. is a SR on Tron for example - they will bring "Project Atlas" to Tron and Bittorrent where all Torrent-Seeders will be rewarded with TRX. We should not forget, that Torrent is still responsible for half of the worldwide internet traffic - so this alone is huge.
Sesameseed is another - they are seed funding new dapps for the blockchain...
These are only 2 of many SR and voting for your favorite ones will earn you TRX and other Tokens (like Seed).
Does this help @bobinson?
Thank you - this is very very informative.
The torrent aspect is huge. I generally download Linux ISO images over torrent as its lot more faster and often I keep the torrent files for days. ie keep seeding. This also sounds like Filecoin (IPFS) and also what Orchid is planning to do.
I will look into TRON for more details.
What do you get with ERC20?
Compare that with what you get with SMT. Yes they are different in that SMT does not cover the range of uses that ERC20 does. They create general use tokens where SMTs are specialized.
How does a company that creates a ERC20 token reward users for upvotes? What is the formula used? How do they know what will work best?
Plus with SMT you get the secure wallet system, retrievable accounts, the impending hivemind (which I presume will be in place by SMT release), and a way to track how much everything costs on the blockchain.
SMT are providing a package to those entities which have the specialized needs that Steem handles.
If one is creating security tokens for real estate, as an example, they might be better off on one of the chains you mentioned.