Why Are Smart Media Tokens Not on the STEEM Blockchain?
"There will be no connection between Steem and Appics accounts, because Appics data is on the SMT blockchain. Not the Steem blockchain."
This was stated by the @appics account two days ago as you see below:
Link to comment here: https://steemit.com/cryptocurrency/@appics/sneak-peek-inside-the-appics-app-or-getting-ready-for-the-ico-or-voices-about-appics#@appics/re-schmidthappens-re-jeezzle-re-appics-sneak-peek-inside-the-appics-app-or-getting-ready-for-the-ico-or-voices-about-appics-20180327t043529728z
Wait whatttttttt?
I thought that SMT's (Smart Media Tokens) will be using the STEEM blockchain not their own blockchain not tied to STEEM.
The information that has been circulating around SMT's like you see below from the http://steem.io website is that the SMTs will be on the STEEM blockchain.
And the STEEM community has been hoping that because of SMT's that the awareness, recogniton, and price of STEEM will increase because of the Smart Media Tokens.
So then why would the first SMT , @appics , say that their data will be stored on the SMT blockchain not the STEEM blockchain?
Best case scenario is that whoever said this on the @appics team said it in a way that is confusing and can be taken different ways.
This would be the best case scenario for the STEEM community, but does not give much confidence to the investors of @appics who have put in over a million dollars into the ICO already.
Worst case scenario:
The STEEM community has been mislead by Steemit Inc and many others to believe that SMT's will be using the STEEM blockchain.
The way SMT's and the potential impact of them on the STEEM blockchain has been presented has no doubt cause people, businesses, and organizations to invest in STEEM because of these future developments.
Maybe I am missing something or are we onto a bigger misdirection on the community.
So I propose to @appics , Steemit Inc, and the STEEM community to figure out what is actually going on with SMTs. Because if what @appics said is true that SMT's will have its own blockchain not connected to STEEM a lot of people have been misdirected.
Why are Smart Media Tokens not on the STEEM Blockchain? And why would the first SMT, @appics, say this?
As a community, I feel like it is the right thing to do to give us the real information on what is going on with SMTs.
Hope this helps bring awareness to this comment and issue because if true this will have massive effects.
I am a big believer in STEEM and the good it can do in the world. Made this post so that we can get clarity. Hopefully the comment is just a mistake.
Everyone was under the impression that the SMTs would be on top of the Steemit blockchain, kind of like ETH's ERC-20 tokens!
Rightttttttttt and then when they made that comment it brought some confusion.
Hope we as a community can figure out what is actually going on.
The OP didn't bother to find any facts, instead he jumped to conclusions. And you are just going to jump there with him? He at least acknowledged he didn't know for sure.
(Which didn't stop him from slinging mud.
The OP is taking a direct quote from the representative of Appics.
He is taking it out of context and I know it isn't on purpose. This "SMT" is being done on ETH. :) There are no SMTs yet. The whole thing is a being misrepresented.
Respectfully. I disagree. These ICOs are with Steem and they will be released the third quarter of 2018.
Appics website says: SMT DEVELOPMENT Q1 2018 Ongoing SMT protocol development by Steemit Inc.
Token distribution says: 50%
ICO
20%
APPICS
20%
ECOSYSTEM
5%
STEEMIT
3%
REWARD
2%
REFERRAL
Whitepaper says....
8.1 Case Study: Steemit
8.2 Performance and Scalability
8.3 SMT Meta-Token
8.4 Storage
You don't have to be respectful. :) No worries. I do not have enough confidence in my own understanding to find the words to clarify. Sadly, I do think the "Quote" is "Incomplete" at best.
If not totally wrong, but I don't have the ability to explain it.
Insert frustration here, but it isn't at you in anyway.
I love how kind you are :)
I totally agree it is incomplete and appreciate you writing a post as well.
Hopefully someone in leaderships explains. If not that should say volumes.
And rightttt any frustration is at the leadership not at the community.
Amennnn @jeezzle I think the community is waking up which is awesome.
Like @whatsup said the whole thing is being misrepresented by so many parties. And the fact that the leadership doesn't clarify should speak volumes.
What do you think people do they are confused and want answers. Especially when people have money and time invested. This is not mud slinging just made this post to bring awareness and hope to get an answer.
It was a mistake from @appics representative I think. Smart Media Tokens are on the Steem Blockchain, but they're each a layer unto themselves. What happens (sort of) is, Steem gets burned/nulled every time someone makes a token. That makes the price of Steem go up, and the Token has it's own layer. Those layers don't really interact with the Steem blockchain like Steem itself does. You'd be able to trade it like an etherium based token.
Absolutely that is the impression I got but it is a huge thing to guess about hence the post. A lot of people's time and money is invested so if we could get an answer from the people in charge that would help out tremendously.
Here is a good post on it:
https://steemit.com/life/@exyle/vlog-102-a-concern-about-smt-s-on-the-steem-blockchain
Hope that helps.
Surely appreciate you sharing. Just want to know why @appics said that and that the community gets distinction so the confusion can be lifted. I love STEEM no harsh feelings just wanted to bring that comment and how it could be construed to the community's attention.
One of the comments in that post explains the multiple blockchains. :)
I hope you are correct.
SMT on the steem blockchain seems to be the biggest thing that will separates steem from that other competitor that is rumored to be launched in a few months by a backstabbing weasel who betrayed the early investors in steem & steemit.
I hope it is just a mistake as well. Big believer in STEEM and the benefits it can bring.
I concur.
I recently increased my steempower investment.
I shall be spending more time writing some articles exclusively on this platform.
O heck yeah. You're content is out of this world :) excited to read more.
I just posted another one, where I really go down the rabbit hole.
Just read it serious goosebumps man SERIOUS goosebumps.
SMT blockchain? That's news. Especially when the screenshot you have there says SMTS are on the STEEM blockchain. Are they referring to layered blockchains? I could see how that might be helpful, so that APPICS does all of its own onboarding and content storing, right?
Just a guess, since I know nothing about blockchains or if you can stack them one on top of the other.
What I'm also not getting is, is this SMT blockchain already deployed then? Because APPICS already has their ICO going. There would have to be somewhere for that to all register.
It's simply amazing how reality seems to frequently change from what you thought it was into something different.
I know we're only an hour into your post, but it doesn't look like those in the know are answering yet. Need more resteems or something!
I could see how that could be helpful absolutely and if that's the case clarification to the community would help greatly especially with so many investors tied to the community.
Right especially because the Appics team has said their is a working prototype but just for team members and pre-investors.
Hope we figure out an answer for the community so the confusion can be lifted.
Thanks for bringing this to wider attention. This was my question and I was completely confused by the response. But I went to the Appics investment page and it looks like you can send from your Steem account to the Appics Steem account with a specific memo. Also, I looked at the Appics wallet on here, and there are massive chunks (3000+) of Steem being deposited here, presumably payment for the token sale. I would like a complete confirmation of this directly from Appics, but I tend to think that person misspoke in responding to me.
That is what I hoping as well that they just misspoke. Just wanted to make this post so we could get some kind of distinction because when some STEEM investors see that type of comment it triggers confusion.
And right it would make sense and cents that the connection between Appics and Steem is there.
You're very welcome hopefully we can some clarity because I love STEEM and the community and would help out greatly so there isn't any confusion.
Appreciate the response.
It is quite confusing.Is SMT belongs to Steem?
Right it is. I was under the impression SMTs would use the STEEM blockchain.
Hope we figure out an answer for the community.
Not to involve with this thing of SMTs, but as far as I can see there could be a huge problem with them.
Hope the people of Steem Inc. could bring some light into this as you said.
I'll try to be more informed about how this develop.
Thanks for share and re-steem.
I totally agree I just hope it is made clear for everyone to understand.
You're very welcome and thank you for the resteem. Hope we figure this out.
Much appreciation.
I am looking forward to SMTs but I am waiting for the toolbar that lets me create them as described in the SMT paper.
Righttttt that would be game-changing. But given how the team is doing with SMTs and their first SMT I don't have too much faith they will deliver.
Hoping for the best though.
Thanks for sharing i have been away for a while i need to look into SMTs
You're very welcome. Hope we can get some clarity.
8 hours later... still no reply or clarification? Why I'm not surprised?
Rightttttt really unfortunate. Hoping for the best but planning for the worst.
Is this really ??
Rightttttt. Hope we get the correct information.