What are Smart Media Tokens?
An SMT is a native digital asset on the Steem blockchain. SMTs can be launched by anyone to help monetize online content and create incentives to encourage desired user behavior.
SMTs are like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses.
Proof-of-Brain’
community incentives
Proof-of-Brain is a type of tokens rewards algorithm that encourages people to create and curate content.
It enables tokens to be distributed by "upvote" and "like"-based algorithms and can be integrated with websites to align incentives between application owners and community members to spur growth.
Faster than Bitcoin and Ethereum, with no fees
Running a rewards-based decentralized social network required new advances in blockchain technology. Steem is a next-generation blockchain, uniquely designed to run real-time applicaitons with near instant, fee-free transactions.
Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum.
Steemit—a social network that pays its community
Steemit is a blogging platform with it's own SMT called STEEM. These tokens are distributed to content creators and curators daily as rewards, based on community voting.
We built Steemit on Steem to show the world the future of the web. We built it to inspire new digital content business models and apps by entreprenuers and developers.
The STEEM token is an SMT on Steemit
STEEM is the platform token on Steemit.com. It's distributed to the most valuable contributors by community voting. STEEM is a tradeable token that is easily convertible to Bitcoin and Ethereum.