Is PalNet Giving Us A Glimpse Into The Future Of Steem???

Palnet.io is now live. It is ready for people to log in and use.

What is this?

It is a new interface on the Steem blockchain that allows people to interact just like they do on Steemit.com. In fact, the interface looks very similar (the value of open source software).

Even though the interface looks basically the same, this is not Steemit.com. It is a completely separate initiative that rewards people in PAL tokens. In fact, as you can see, this is the main coin distributed on the platform. All payouts are denoted in that currency.

This means it has its own Trending Page which is different from Steemit's.

We also see the wallet, although similar to Steemit, not reflecting that currency. Instead, we see the PAL as the token being recorded. One important point is that there is such a thing called "PAL Power". This works the same way STEEM does when powering up. I presume we will see this token having the capability to be delegated just like Steem Power can be.

So what are we looking at?

This, in my view, is the original intention of SMTs. The entire premise behind having them was to allow people to create "Mini-Steems". Since those tokens are not available yet since the protocol is being worked upon, this is under the SCOT design of Steem-Engine. Nevertheless, that used the SMT White Paper as the basis for what is being created.

It is important to consider how ground-breaking this really is. We are looking at the future of Steem with this development. The idea behind this blockchain (along with SMTs) is to tokenize the Internet. Here we see a simply example of how that is going to take place.

The PAL token is front and center. Nothing on the site, other than the layout, deals with STEEM. Of course, all posts are placed on the blockchain just like any other Steem-based interface. For this reason, one will need the Resource Credits to interact. This part does not change since that is coded at the base layer.

I have not had a chance to read the White Paper yet for PAL, but I am going to presume that all other Steem-based features are the same. Hence, an upvote on the PAL platform will coincide with the 20% replenishment rate. Also, I am going to surmise this is also stake-weighted voting. Without reading the White Paper, I cannot be certain but this would only make sense.

Like all other applications, whatever is posted on PalNet will filter through to one's Steemit account. This means people on there will also be able to see the posts. Whatever upvotes are received on that platform will earn one payouts in SP/SBD. Hence, we have the ability to earn a couple different ways on the same work.

At this point, once SMTs are released, I am not sure how the Steem-Engine tokens will be reconciled. I read that exchange is going to support the SMTs so it might be an easy transition.

With the many different discussions about the proposed Hard Fork, here is a prime example of how things are going to change without altering the base code. Applications that are built upon the Steem blockchain are going to use their own tokens to reward their users. In the end, STEEM will end up being a bonus.

Just picture for a second if the PalNet team was very successful with their marketing and ended up bringing tens of thousands of people to this ecosystem. Do you think most of those people would care about STEEM? I hypothesize they would see the opportunity to earn PAL tokens as their incentive. The fact that this is part of the SCOT network means it can be traded for all tokens on there.

Therefore, we see a platform that can operate regardless of what is happening on Steemit.com. At present, most of the applications are still trailing the maiden application yet that could change. An interface that starts to offer the functionality and features people are looking for while building its own ecosystem around its token could end up trumping Steemit.com. Since it all posts to the same blockchain, each of us is free to opt for the interface that offers us the most.

It will be interesting to see how this project unfolds. It is all part of the Minnow Support Project which has always focused upon getting smaller accounts involved and moving forward.

Perhaps this is another step that will help to move things forward.

We also could see this focus posts upon the original mission of Peace, Abundance, and Liberty.

Here is some information on the project along with the White Paper.

https://steempeak.com/minnowsupport/@minnowsupport/palcoin-launch-a-revised-whitepaper-and-token-launch-by-the-minnow-support-project

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