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RE: SMTs and the Emergence of New Steem Business Models
Will VICE be using the Steem blockchain? There seems to be some confusion around this project. Last I heard they were not using it any longer. I have not had time to dig into this further as I am traveling right now. @sndbox
Hi @thejohalfiles - to give you some background, I work full time in the blockchain sector, specifically with ICOs.
VICE published this article a few hours ago talking about how they will be using an ERC20 token for the ICO.
I imagine that they will move to an SMT, once they are launched. ERC20 tokens often have network congestion issues, due to bloating on Ethereum's network. I would think that VICE are ready for ICO, so decided to get it started right away by using and ERC20 token, but when they want to scale they will move to SMTs, so that users can benefit from fast transactions, the reward pool, and all the other positives of SMTs. Otherwise, VICE would have to build a whole rewards pool smart contract with all of SMT's consensus mechanisms in order to reward users for watching etc., that would also interact with IPFS - I don't even know if such complexities are possible with solidity, as I don't know the language too well.
I hope this helps, I would really appreciate your feedback on my latest project!
Edit - see @sndbox's reply, VICE have forked Steemit's code.
nice
But does forking steems code mean that they will use an SMT? If they get all the benefits of the graphene architecture, why use an SMT?
Great question @thejohalfiles, the VICE whitepaper still highlights Steem as a basis for utilizing the rep-scores. However, we've heard conflicting reports and are also seeking more information about this.
Comment EDIT - it looks as if VICE will be forking the Steem code to provide this functionality. See their tweet below:
so basically @viceindustry won't be using the same Steem blockchain we're using, and won't be an SMT.
From what I understand the Steem blockchain is not fully open source... I think the dude will get sued if he forks the Steem blockchain without permission from Steemit Inc.
The Steem code is open source, the license was changed quite some time ago:
https://steemit.com/steemit/@steemitblog/steemd-is-now-completely-free-to-use-with-an-mit-license
It kind of seems like a bad move to me. Like divided we fall. Would make Steem and Vice stronger to just join forces.
Not everyone wants porn. Steemit added the 18+ content block to deal with it temporarily. I like this, it will allow VICE to be Steem porn and Steemit to be quality proof of brain.
That's why they'll air drop their tokens to steem holders. Like compensation.
My understanding (see comment here from @sndbox) is that they are forking the Steem code and blockchain. This means that VICE will have its own chain, rather than using an SMT on Steem's chain. The fork also means that users with cash in their Steem wallet at the fork snapshot will be getting equivalent VICE tokens, though there's been some confusion about how far back in time the snapshot occurred.
I think block 18.500.000. But tokens will not be given until 2021 (latest date)
@thejohalfiles - as others have commented, i confirmed with the head of the VICE token project that they are not going to be using an SMT. Also neither is Bob's repair as far as I understand. I provided some more details in my reply to the original post but wanted to respond to your comment also so you would see.
Youre right it is hard to find information on them bu for me it is clear that they must use steem, how else can they actually play for content like steem does? They will have to fork steem and have their own image and video and dlive style front end where you can upload videos, earn vicepower and vice backed dollars actually an amazing name lol and it will just work great, you earn vicepower and vice backed dollars to sell , yu can power up vicepower or power it down and you can use your vicepower to upvote other vice creators, JUST like dtube/dlive and steemit NSFW section just advertised to the adult industry audience so it has GREAT potential and we get the airdrop free anyway ...
They just have to wait for HarFork20 to fork steem so they get all the great new features and no account creation bottleneck and hopefully communities maybe even SMTs :D
why is your acc worth $5.1M wtf