Altcoins

Steemit Launches Smart Media Tokens on a Testnet

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.

A screenshot of Smart Media Tokens website

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.

Sying Tien

Professional Trader, Social media scholar and a Crypto expert. If you have any comments, suggestions or questions feel free to contact me at sying.tien@thecoinspost.com and i will get back to you shortly.

Recent Posts

Another Crypto Scam, iEarn Bot

The iEarn Bot App is a cryptocurrency trading application that promises investors substantial returns over… Read More

3 days ago

The World State Blockchain Project Launches New Features

The World State has recently launched its decentralized global digital state, which combines the principles… Read More

4 days ago

Ripple Partners with Blockchain Founders Fund

Ripple, a leader in enterprise blockchain and crypto solutions, has announced a strategic investment in… Read More

5 days ago

How Blockchain Technologies Can Improve Cybersecurity

The increasing prevalence of cyber threats has made cybersecurity a critical concern for businesses and… Read More

6 days ago

FBI Warns Against Cryptocurrency Mobile Game Scams

The FBI has issued a warning to the public to be cautious of pay-to-earn cryptocurrency… Read More

7 days ago

Cardano Blockchain Releases an Enhancement Update

Cardano blockchain has launched an update aimed at improving network communication, enhancing its uptime and… Read More

1 week ago