STEEMITBLOG UPDATE, SMTs AND THE FUTURE...
steemit·@cryptoctopus·
0.000 HBDSTEEMITBLOG UPDATE, SMTs AND THE FUTURE...
https://steemitimages.com/0x0/https://i.imgur.com/1ouHCOR.png ## Introduction Yesterday @steemitblog updated us on the development of SMTs. This update, [after the one we had last week regarding Steemit Inc reflecting on the 2017 roadmap](https://steemit.com/smt/@steemitblog/smart-media-token-development), was very much appreciated. Here I detail what I think about it and the reaction I've gathered from other veterans. ## Communication Steemit Inc hasn't been the best at keeping the community in the loop last year. As an investor/user, when you are in the dark regarding what's going on, time feels like it is slowing down. Everybody welcomes this new approach from @steemitblog to keep us in the loop when **something** happens. Even if it's just having a new exchange listing STEEM. ## SMTs We can all agreed that SMTs shouldn't be rushed. They are basically changing the engine while flying at 1,6M transactions per day. [In that last blog post](https://steemit.com/smt/@steemitblog/smart-media-token-development), they made it clear that they wouldn't cut corners. #### Automated Market Maker This makes Steemit.com the most appealing ICO platform I can imagine. Not only those tokens will be instantly tradable without fees...those tokens will generate their own liquidity!!! For anyone who ever tried to bootstrap a token (I did on bitshares way back), it's almost impossible to do unless you have massive resources to get listed on exchanges. ## Speculation Through the automated market maker, what will happen (if I've read correctly), is that STEEM will be locked to generate the liquidity similar to how the bancor project talked about it their whitepaper. That will make it so that the supply of liquid STEEM will fall as more and more successful SMTs are launched. Add to that the process of burning steem with every new user signed up and we've a recipe for massive upside in the price of STEEM...to the point where being a Top 10 crypto is easily imaginable. ($20+ per Steem) ## Hivemind We are still waiting for more information around the development of Hivemind, the community layer for the STEEM blockchain. I have been waiting for this a whole year to be honest...in January 2017, I thought it was priority #1. As much as I am excited about SMTs, Hivemind is what I think is the biggest need that we have from a front-end perspective. We are still dealing with a firehose of content that is impossible to curate properly. Spending time in the "new" section is a fools errand. I'm looking forward for a more detailed update on the Hivemind protocol. Right now, we can see that the [1st milestone is about 80% done](https://github.com/steemit/hivemind/milestone/1), while [milestone 2 is a 10%](https://github.com/steemit/hivemind/milestone/2) and [milestone 3 is a 0%](https://github.com/steemit/hivemind/milestone/3). I don't know what it means in term of front-end implementation but I can't wait seeing it live on steemit.com ## Conclusion If you don't know if you should power up everything you've earned so far, I think this is your cue. This thing will moon sooner or later. Please let me know how you feel as an investor in STEEM and what you think of those weekly updates. Image credit: @voronoi
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