"I love it when a plan comes together." -Hannibal Smith The A-Team

Things are really starting to come together on the STEEM blockchain. This is really exciting to watch. My focus always is on the development. That is where the action is. While others are concerned about the layout of Steemit or the number of new users, I prefer to ascertain my outlook based upon what is being created.

Applications are what is going to sell the blockchains. People are not going to care if they are on STEEM, Ethereum, or the Justin Bieber network. They will be drawn in by the whatever is created on the blockchain. And that is why monitoring the development is crucial.

There are two things that I noticed yesterday that really excited me.

The first was a video and article put out by @steemitblog. It was an explanation by @ned and @theoretical of Oracles. This is really another layer of development that is going to separate the STEEM blockchain from many of the others.

https://steemit.com/ned/@steemitblog/ned-scott-and-theoretical-of-steemit-explore-oracles-on-steem

Oracles are tied to the Smart Media Token program. What they are going to do is to provide the whitelists for different SMTs that enable people to receive different tokens. Basically, there will be different criteria that each Oracle is responsible for and SMT designers will decide which ones they utilize. For example, one might be responsible for making sure that one is a unique account holder. Another might focus upon the actions of that account on the STEEM blockchain. Hence, a spammer might be a unique account, thus passing the first Oracle. However, the second might not pass it through meaning that SMT would reject that account.

This is all part of the account based voting system. Oracles provide another layer of verification. This is in an effort to prevent one from signing up dozens (or bots signing up thousands) of accounts. When you have one account, one vote, it is imperative there really only is one account.

What is really exciting about this is it is an "update" on something many consider a flaw. I was not here a year plus ago when the reward pool was changed, but it was obvious, at that time, that something was wrong. Hence, the linear system was draw up and the inflation rate altered.

People seem to have issue with the stake based voting system. The intent was to get the best content to the top. This did not happen as planned. Therefore, another system is in the works. With account based voting, we see the possibility for an alternative that might be better. Oracles are a layer that is going to increase the chance of success or, at least, help if there are issues with it.

It is important to remember, a lot of this is a grand experiment so adjustments are natural. There are few technological projects that go exactly as planned. Having the ability to be flexible and adjust as the evidence comes in is all that we, as a community, can ask for.

For the moment, it seems that the issues are being heard and addressed by the development team.

The other exciting thing I noticed was all the posts about @steemmonsters. This game is starting to generate a lot of excitement. Not being a gamer, it is easy for me to stand back and observe without bias. I have no idea if the game is good or not, if it will take off, or even how it will come to pass.

I can tell you that it is generating a lot of commotion among a fair portion of the community. There are a large number of posters on my feed who are into this. They are putting up posts espousing on ideas and creations they all have. There are giveaways for the packs of cards along with people creating artwork.

At least among the 60K daily transacting users, this game caught their attention. Many are even admitting they are addicted already. From a human aspect, this is not encouraging and we might need to start a 12-step program before this gets out of hand. However, from a growth standpoint, this is marvelous. People are really getting worked up about this one game.

And that is the point. It is one game that was created by a couple of members of the STEEM community. Personally, it is not @steemmonsters that I am concentrating on. Instead, it is the potential of what will happen when there are hundreds of projects like that appearing on this blockchain. The development is already unfolding at an incredible pace. Picture what things will be when there is 10 times the number of people.

One final thought that I want to pass on. The opportunity with Smart Media Tokens is written about a lot. I, myself, focused a number of times on the STEEM transition from a token used as payout to one that powers this blockchain. That, ultimately, will be its value.

However, there is another aspect that dawned on me. Smart Media Tokens will put a lot of buying pressure on the internal exchange for a reason other than bandwidth. Consider what it will be like when there are 50, 100, or 1,000 different tokens on here. All will be tied to applications that any Steemian can use to earn tokens. There will be many different applications where one earns a few tokens here and there. What is the point of holding them if you are only going to visit a site once or twice?

My view is those instances will see the tokens converted to STEEM. Hence, I can foresee a time when millions of people are exchanging a small batch of many different tokens into STEEM. Why hold 3 ABC, 2 DEF, and 5 XYZ tokens? Most will simply convert them to STEEM. This will only place more buying pressure on this blockchain's base token.

The other reason why I am excited to see @steemmonsters generate some excitement is because, I feel, we are now at the start of the build-out of commerce on the STEEM blockchain. Over the next couple years, are going to see entrepreneurs creating businesses that allow people to spend their STEEM. Right now it is trading cards in a game. At some point, it will be food, clothing, and maybe even a Lambo.

This only makes the idea of Smart Media Tokens even more attractive. In addition to everything else that one gets from using the SMT protocol, there will come a time when one also gets the ability to shop in the entire STEEM ecosystem. Since all SMTs will be paired with STEEM, it is only a quick conversion on the internal exchange that opens up the door to every commerce site on the STEEM blockchain.

I do apologize. It appears there were more than two things that excited me.

---

To receive the free basic income tokens you are entitled to and help end world wide poverty, please click the following:

Click For Manna Coins

In full disclosure this is a referral link

Pictures by Google Image