Steemhunt announced this week it is going to roll out a major upgrade that will completely change how it is functioning.
Many ask about the difference between SMTs and SE, as an example. Here is a situation where SMTs did not provide for all the use cases that Steemhunt needs.
Thus, the project will see a split, with a second token added on an outside blockchain which will allow for the expansion into different areas of technological development.
To start, Steemhunt is going to use the SMT protocol for Steemhunt posts. This is going to remain the same and will use the Steem Proof-of-Brain concept like always. This token, the STH, will provide all the functionality that we are accustomed to on Steem.
What is different is the introduction of the Luniverse chain which is where Steemhunt is going to host a variety of applications. It begins with the ability to do crowdsourcing by utilizing smart contract technology. This is going to be the basis for Ideahunt, a project where Hunters can fund technological ideas (start ups) they find interesting. Smart contract capability is required to establish the terms for both the innovators and those who are funding the project.
Steemhunt is also going to introduce a platform where projects can buy hunters time. For those who have influence, a token will be issued which represents an hour of that individual's time. The company that purchases can redeem it for the insight and influence the person brings to the table.
Finally, Steemhunt looks to attract 3rd party applications to the platform. Luniverse allows for the creation of a main chain along with many other sidechains. This will enable other projects to align itself with the Hunt ecosystem and the token.
Present HUNT hodlers will have the choice which token they want. Since the present token is ERC20, this will be eliminated. People will have the option of getting the STH or having the HUNT roll over onto the Luniverse chain.
Here is the full write up of the upgrades:
This is a prime example of a project that requires more than what Steem can offer. Steem is a specialized blockchain with a focused feature set. It does not seek to provide solutions to every situation. Instead, it simply looks to provide fast and fee-less transactions through the application of the Resource Credit System which quantifies the handful of different activities that an individual can take.
In this instance, Steemhunt sees the opportunity to greatly expand the focus of their project. Utilizing other features enables greater innovation. Here we see how one project is doubling the types of tokens it is using. Each serves a different purpose. I would expect over time, as the team keeps innovating, there will be more tokens it launches as the need arises.
This is a site they set up to explain their token model:
All those involved in Steemhunt should be very excited. This is a major expansion of the project providing greater opportunities than before. The move effectively positions the Hunt platform as a central hub for individual tech innovators. With the goal of attracting other projects and bringing them into the mix, it is a chance to enlarge the reach to all who are tied to the project.
This is also a great move for Steem. As Steemhunt reaches out further, the Hunt platform can also be a feeder system into Steem. How many of the projects that will be joining that ecosystem have a need for what Steem is offering? There will be a certain percentage who do exactly what Steemhunt did, use a couple different blockchains based upon the needs.
We are going to see a lot of this happening in the future. The tentacles of projects are going to start spreading out to different chains. Here is where we are going to see interoperability start to come into being. People will be getting rewards from many different sources, sometimes without realizing what blockchain they are operating on.
The key is innovation and it is just kicking off. As the great minds that are involved in this industry start building upon what went before, we are going to witness things moving at a rapid pace.
Steemhunt became of the top projects on Steem very quickly and that is because of the team behind the project. They keep expanding their offerings in line with their original vision. The roadmap is certainly coming into being.
As always, the next few years will be very interesting.
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