Steemit Details Smart Media Token (SMT) Development Progress

Last week, Steemit announced the release timeline for their Smart Media Tokens (SMTs). In that announcement, the team detailed a token protocol similar to ERC20 coins, but one that will allow anyone to “create their own cryptocurrency with industry-leading capabilities, and immediate access to the largest cryptocurrency community in the world.”

Today, in the etiquette of transparency, Steemit let us in on their development process in building the Smart Media Token. Sure, this information is all detailed in the Steemit blockchain repository, but today the team announced a more streamlined system focused purely on SMT development.

Hosted on Github, their new records hold every step of the SMT development process. The page showcases what has been done and what’s on the backlog, making it easy for anyone to follow. Updates work similar to a Trello board, with the team dragging and dropping updates between columns.

Steemit also gave updates on their new hires and more streamlined engineering processes such as Hivemind 1.0 and AppBase. Every update is working towards their final vision: Hardfork 20, which is set for launch on Tuesday, September 25th of this year.

Steemit Creating Options For All

Steem’s new SMT system is built to facilitate a greater range of “user stories”. To that end, the Steem Blockchain Team hopes to give uers a lot of flexibility in how they interact with SMT tokens; example features include options to create market orders for specific tokens or being able to specify which tokens a project will accept on the Steem blockchain.

Of course, the update is still a work in progress, and Steemit intends to account for any unseen issues that pop up alongside development.

According to today’s blog post,

“All of this being said, there will no doubt be new issues, problems, and solutions that we have not yet considered that come up during the development process. These will be added to this tracking system the moment they have been discussed and sized. Even knowing that there will likely be some unplanned surprises with development, we are confident that our system for generating forecasts takes these unknowns into account, and they will not interfere with our ability to deliver SMTs on time as per the announced schedule.”

Steemit’s dedication to openness is admirable. With such a bold vision, getting more people onboard the SMT process through accessibility is a smart way to move forward.