Michael Joseph Presley demos scot.today, a decentralized analytics platform for Steem tokens with 555+ listed and nearly 600 users. He critiques CoinMarketCap's centralized exchange requirement and pitches Steam Engine Marketplace as an alternative, plus a new Bitcoin sidechain token called BTCMYK to boost the ecosystem.
Welcome back to the channel, and I hope you're having a great day. So wanted to talk today about the scot.today website, and of course this is dealing with the SCOT tokens. This is the protocol for SMT tokens on the Steem blockchain. In short, kind of the Steem blockchain's version of the ERC-20 token, right? There is now a token creation available on the Steem blockchain. And what they've put together here with this user interface, which I think is awesome, is kind of like our own version of CoinMarketCap, right, where you can kind of really get your charts and do great research on the tokens that you think are working for you or that you hold in your portfolio. Um, so just taking a look at it here, it does the ranking similar to CoinMarketCap, lets you know the performance. And you can see these are some of the top cryptocurrencies, uh, here now available, uh, on the Steam Engine Marketplace. Um, so let's just take a look at some of the tools that, uh, they allow us to, uh, utilize. Okay, so we're looking at Active Earn and You can see that you have your basically your charts settings and you're basically able to, uh, go deep into detail about the price action that's happening. Um, and I think that's awesome because, uh, I don't think we had anything like this before and it kind of creates this great option to, uh, what you get on, um, uh, similar to what you get on CoinMarketCap because a lot of people want to get listed on CoinMarketCap and, uh, I think philosophically the Bitcoin MYK project had some disagreements, um, you know, with CoinMarketCap, uh, and some of it had to do with, um, just, um, requirements related to, uh, centralized exchanges. Like they require like two centralized exchanges to get listed, and we thought that was a little bit odd because, um, to us it kind of hurts the spirit of cryptocurrency. Something like the Steam Engine Marketplace, this is a decentralized exchange. So many of the problems that we think will occur in the future with centralized exchanges, this isn't what's going to happen on the Steam Engine Marketplace. Also, there's a great amount of interoperability on the Steam blockchain, and that's, that basically is, you know, talking about Basically, you know, how we're able to, within our own communities, connect to hundreds if not thousands of applications. And this makes it just so easy for us to navigate throughout the site, move value across the site. And we believe these type models work best in the cryptocurrency space, as well as easy wallets, easier user interfaces. And the Stelium blockchain presents a variety of all those things, right? So pretty cool stuff. It also shows all the holders of a token, uh, so it's just a very convenient way to navigate these sites, uh, or research your, your variety of the tokens that you have in your portfolio. So we're going to leave a link in the description to that, uh, make sure to check us out. Uh, I think we were listed like, uh, out of— it's now over 555 tokens on there. I think we're like 90 Well, we had— we dropped to like, I think, 86th spot today, and then we went up to like, uh, we, uh, we dropped to 95th or something like that. So definitely we want to get in that top 10. We used to be in the top 10, uh, earlier days, but there are a lot of great projects out there now. And, uh, make sure you guys keep following up to date with us. Uh, also, we, um, let's see here, we, uh, we're just about to hit 600 registered users. So we're moving along. It's a steady incline. We're getting a little bit closer and better than we've been before. We've also submitted to the Steam proposal system to have funds come in to help our Bitcoin sidechain deflation token, which we think is going to be a lot of fun and make a lot of sense to cryptocurrency users. Bringing back some of that excitement to the cryptocurrency space, some of that demand, and some of those things we really want to see happen in cryptocurrency. So I think that's what we're trying to push for and get, uh, happening here. But, uh, make sure you check that out. Make sure you join Bitcoin NYK if you haven't already. But that's all I want to say in this video. If you like content like this, don't forget to like, subscribe, and until next time, take care.
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