Steemit, the blockchain based blogging and social media platform where everyone gets paid for creating content, has released a new token-launching protocol, Smart Media Tokens (SMTs), on a testnet.
Users can use the newly launched token “Smart Media Tokens” to create a new cryptocurrency with 3-second fee-less transfers, without having to write a single line of code. SMTs will allow any publisher, creator, or entrepreneur to launch their own custom token on the Steem blockchain, which will help them monetize their digital content and reward consumers who engage with their content through likes, votes, views, shares, and comments.
SMTs have been live on testnet now for over 40 days, making this hardfork already the most tested hardfork in Steem’s history.
According to Steemit’s announcement, entrepreneurs using SMTs will benefit from the state-of-the-art properties that come from being powered by the Steem blockchain, including three-second block times, zero fees, and its ‘Proof-of-Brain’ algorithm, which autonomously distributes tokens to the most valuable members of a community. And because Steem was designed from the ground up to power web applications, SMTs will integrate easily into any established website, app, or platform, making it simple for mainstream creators and entrepreneurs to access the fastest-growing industry in fintech and immediately begin generating revenue at virtually no cost.
What is Steemit?
Steemit is a blockchain based blogging and social media platform such as Redit, it offers rewards to its users in STEEM coins cryptocurrency for publishing and creating content. Steemit users can also earn STEEM coins for commenting and upvoting other posts.
