Steemit Set to Release Smart Media Tokens (SMT) For Native Steem Blockchain Coins
Steemit Confirms the Release Date for Smart Media Tokens
The world’s largest blockchain-driven social media platform, Steemit, has confirmed the release dates for its Smart Media Tokens (SMTs). SMT is a token-launching protocol for the Steemit blockchain that was incepted a year ago. The company has designated the January 15, 2019 as the day for the inauguration of the SMT’s protocol Testnet. The mainnet, which is set to go live on March 24 next year, will coincide with the anniversary of the first block created on the Steemit blockchain.
Essentially, the role of the SMT is to enable participants to create customized tokens on the Steemit network. By doing this, such individuals can monetize their digital content and reward clients for performing certain activities, including feedback, sharing content, viewing, liking, and so on. While making the announcement, Ned Scoot, the CEO of Steemit, thanked the development team for their exemplary work in ensuring that the much-awaited protocol is released in time. Ned added that the SMT protocol will allow blockchain novices to leverage both the technology and digital currencies.
Besides the inherent functionalities of typical token-launching protocols, SMT users will benefit from the advanced features provided by the Steemit blockchain. Such include incredibly short block times, zero charges and the distinctive proof-of-brain consensus algorithm. This unique algorithm independently distributes tokens to the most valuable users in the ecosystem.
Moreover, the SMT protocol is compatible with a variety of platforms, including mobile, web and desktop. For this reason, developers and business people can easily access the most vibrant sector in fintech and immediately begin earning profits without incurring any charges. Also, the protocol will support the creation of smart contracts which further simplify the tokenization process by allowing the user to specify token emission rates, ICO parameters, founder tokens, and many others.
For a substantial period, the Steemit network has been embarking on the improvement of its services. Part of this plan is to introduce new products and services such as the Smart Media Tokens. The company, which is now two years old, has undergone an enormous growth since its inception. As of now, it has over one million registered users on its blockchain.