Steemit, the largest blockchain-based social network announced today the release dates for Smart Media Tokens (SMTs), a token-launching protocol native to the Steem blockchain first announced last year.
On January 15, 2019, the TestNet of the SMT protocol will be released. The protocol itself will be released on the MainNet on March 24, 2019, in honor of the anniversary of the first block ever produced on Steem.
SMTs will allow anyone to launch their own custom token on the Steem blockchain, which will help them monetize their digital content and reward consumers who engage through likes, views, shares, and comments.
[perfectpullquote align=”full” bordertop=”false” cite=”Ned Scott, CEO of Steemit” link=”” color=”” class=”” size=””]“Excitement has been building since we announced SMTs last year, and we are now ready to share the release date for this protocol thanks to the hard work of our engineering team. SMTs represent a future in which everyone has the opportunity to leverage blockchain and cryptocurrency technology without being a blockchain expert.”[/perfectpullquote]
Unlike other token-launching protocols, 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.
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. The SMT protocol will also include smart contracts that enable the creator to specify Founder Tokens, Token Emission Rates, Initial Coin Offering parameters, and much more, which will make tokenizing a website or other enterprise infinitely easier.
The release of SMTs is a key part of Steemit’s continued development and company evolution. Since launching in 2016, Steemit has experienced exponential growth, with more than 1 million accounts now operating on the Steem blockchain.