One of the biggest problems with cryptocurrency is getting people to actually use it in their everyday life. If you've been on Steemit for a while, you may easily overlook the fact that simple transactions
At long last, the Smart Media Token Testnet is live. Developers may now build a project for their business on the Steem Blockchain. The testnet allows developers to run their project and look for bugs.
How will SMT’s change Steemit? I think once the SMT’s go live that Steemit will be a very different place. I think it will be a better place. The opportunity for entrepreneurs to tokenize their brand and their websites on the Steem blockchain will introduce an entirely new base of Steem users. Companies will be able to tokenize and monetize their sites using the Steem protocol and will be able to do so at a minimal cost. While these companies will be part of the Steem ecosystem, they will also maintain their independence by assigning their owns set of rules and rewards to their unique token.
The benefits to Steemit are obvious. Thousands of new users and an expanded user base insures more traffic. The demand for Steem power will increase as new token holders find the need for more resource credits in order to function on the Steem blockchain. The need for resource credits should result in increased investment in Steem and an overall incentive to power up.
I think many of us have maintained a somewhat myopic view of Steem over the past year. We’ve been focusing so much on Steemit that we have forgotten the bigger picture of bringing the entire internet world to Steem.
I think the implementation of Smart Media Tokens will force our community to focus on the bigger picture of the entire Steem ecosystem which has the potential to revolutionize the way we produce and view content on the internet.
I recently attempted to run an advertising campaign on Reddit. The campaign was a link to earning EOS by watching a few educational videos. Considering Reddit is the home of multiple forums on cryptocurrency, you would think the platform would be open to this type of advertising. My ad was rejected almost immediately.
As a result of this experience, I began to think about advertising on Steemit. What would advertising without bots look like on Steemit? Steemit has a built in crypto smart audience. Having a receptive base with a knowledge of blockchain and cryptocurrency should be an attractive audience for any crypto related project. Steemit is unique in that all of the Steemit users are dealing with crypto and blockchain on a daily basis. I would like to see some kind of option to opt in to advertising on Steemit.
Another possibility is offering advertising which would be paid for in Steem and then burning that Steem to help raise the price of Steem.
One of the most useful tools I’ve found for navigating Steemit is a site called SteemWorld The site includes all the stats you need to use Steemit. You can see your current voting power. You may also see the value of your vote at 100% and various other voting powers.
One of the most interesting tools on the site is the simulated Steempower tool. This tool enables you to enter any amount of Steempower in order to see how much a vote would be worth at this power at the current Steem price.
You may also see stats concerning Steem power earned by both curation and author rewards. The mentions tab will show you when and where you were mentioned on Steemit. You may also see your reputation score.
As you gain more Steempower and curate on a daily basis, you will find this site invaluable to keep up with all of your voting stats.
The Steempress WordPress plugin which connects bloggers to the Steemit blogging platform is now offering even more features. The new Steempress features include upvotes, pending rewards, comments and Steem log in on the blog interface.
Bloggers may download the Steempress WordPress plugin Steempress
For bloggers already using the Steempress plugin, you will need to go into your admin settings within your WordPress site and click the update button. The Steempress plugin will be instantly updated. The new features allow Steemit users to vote and comment on posts on your WordPress site. This feature will allow any blogger to monetize their site with the Steem blockchain. You may vote on a post, leave a comment, and vote on comments just like you do on the Steemit site. All logins are through Steem Connect, so you do not need to share your Steemit keys with the site.
Hat tip to @Steempress who has done a great job of making this plugin accessible and easy to use for bloggers.
During the last 7 days EOS accounts for 6.5% of all blockchain activity. EOS surpassed Bitcoin in blockchain activity in less than a month. The most active cryptocurrecy for the last 7 days is Steem with 36.1%. Bitshares is in second place with 30.6%. Ethereum is in 3rd place with 16.4%. Bitcoin holds steady with 5%. All remaining currencies combined are at 5.5%.
The most interesting thing about these figures is that the Blockchains of Dan Larimer, EOS, Steem, and Bitshares, account for over 72% of all blockchain activity. My question is, “When will the world notice and what happens when it does?” Many speculate that EOS will upstage Ethereum in the near future. As the usage of these altcoins increases, when does the price of Bitcoin become less important to the overall crypto market? I think we will see a decoupling of Bitcoin from the altcoin market in the near future.
Dlike is a new decentralized app on the Steem Blockchain. Dlike is similar to Pinterest. You need a Steemit account to log into the site. You can log in by using Steemconnect so that your password remains safe.
Once you are logged into the site, you simply share links to your favorite sites. These links may include news articles, recipes, and photographs. Your Dlikes may receive upvotes just like a Steemit post. The site is like doing Pinterest while earning Steem cryptocurrency.
Everyday we are seeing new decentralized apps (Dapps) added to the Steem blockchain. The opportunities to earn Steem have never been greater.
Stephen Kendal compares Steemit to Facebook. Kendal explains why a future 500 billion dollar valuation of Steemit is quite possible. As a new generation of investors pour more money into the crypto market, will stock certificates be replaced with cryptocurrency?
We are already seeing the ecosystem of Steem expand. Every week we are seeing new dapps developed for the Steem Blockchain. Whether we are posting on Dtube, Dsound, Tasteem, or any other decentralized app, we are still a part of the Steem ecosystem. As we watch Steemit add various communities and niches, Facebook seems like a very stagnant socoal network. The ever changing nature of Steemit makes the Steemit community all the more exciting as we watch our once small community grow.
SteemHunt is a new product review site which runs on the Steem blockchain. You can earn Steem rewards for finding the most unique and innovative products on the market. The winning products are chosen by the Steemhunt users. Steemhunt has a one vote system that is determined by Steemit reputation as opposed to Steempower.
Another perk of contributing content on Steemhunt is the ability to earn the Hunt token. Hunt is the Smart token
for Steemhunt. You may delegate Steempower and earn Hunt tokens every week. You may also earn Hunt tokens for voting on Steemhunt product reviews.
Steemhunt now has a wallet feature within the Steemhunt profile page. The wallet will show how many Hunt tokens you have earned each week.
You may log into SteemHunt with Steemconnector here.
What is the future of the Steem Backed Dollar (SBD)? During the early days of Steemit, the SBD was supposed to be pegged to the dollar. As a result the Steem Backed Dollar was often used as a port in the storm of a very volatile cryptocurrency market.
As a bear market approached, many investors would invest in SBD in order to stay in crypto, but at the same time enjoy a safe haven from the otherwise volatile market. As these investore grew in number we watched SBD hit unprecedented highs. The Steem Backed Dollar reached a high of almost $20 at one point. While this may seem like a good thing, this made SBD just another volatile cryptocurrency.
We have now seen SBD correct to lower levels, but will it last? More importantly, is it better for the price of Steem for the Steem backed dollar to remain low? This question seems to depend on whom you are asking. We are even seeing some discussion of getting rid of SBD altogether.
Steemit has enjoyed tremendous growth during the last year so it is only natural for Steem and SBD to undergo some changes.
Once you have acquired some Steem, you will probably do like most people on Steemit and power up with Steem power.
Your Steem power is what determines the value of your vote on Steemit. For the first year of Steemit, most people with Steem power used it to vote up content on Steemit.
Once Steem power delegation became available, more Steemit users began to delegate their Steem power to various new Steem platforms and services like voting bots. You can delegate your Steem power and earn a return on your delegation. The return on your investment will vary depending on which project you are delegating to. In essence, you are only loaning your Steem power out for a return, but the Steem is still in your possession.
The delegation button may be found in the Wallet section of your Steem account. Once you delegate Steempower, you will see a record of the amount of the delegation. The amount with the minus sign indicates the delegation amount. One of the best things about delegating power is that you may cancel the delegation at any time. Your Steem power will take 1 week to be released back to your own account. Delegation allows you to engage and support many of the Steem platforms and projects without making a long term commitment. You may also delegate to more than one project at a time.
The returns for delegating can be quite lucrative. Delegation is a great way to grow your Steem power while exploring the many platforms of Steemit.