What Are SmartNodes? - The Animated SmartBee EP03 For SmartCash

In the third episode of the Smartcash series we are looking at the Masternodes features called SmartNodes. They enable InstantPay and are the second passive income feature of Smartcash next to SmartRewards.

Narrator Text

Welcome to SmartCash, a young cryptocurrency that offers great features. In this video we take a closer look at one of them: the SmartNodes!

SmartCash has a feature similar to masternodes which they call SmartNodes. SmartNodes are servers which run a SmartCash full node and enable the InstantPay feature. InstantPay allows for instant transactions on the network, allowing for a transaction to be trusted by the recipient immediately. This is a huge advantage for point of sale transactions where neither the customer nor the business wants to sit around and wait for the next block.

Setting up a SmartNode requires exactly 10,000 SmartCash as collateral and a dedicated server. It's easiest to set one up at a hosting company using a Virtual Private Server that runs 24/7. There are guides available to help with setup, and it can take as little as 10 minutes. There are also people in the SmartCash community who are willing to help answer any question.

SmartNodes get 10% of the block reward every block, and it takes about 20 days for a new SmartNode to qualify for this payment. The frequency of the payment depends on the total number of active SmartNodes. Also, as the block reward is reduced over time, so the earlier one is setup, the more it will earn. The 10,000 Smart collateral can be withdrawn at any time if needed.

What makes SmartNodes particularly interesting is that you can combine them with the monthly SmartRewards which makes SmartCash a great passive income stream. Check out our video about SmartRewards to learn more about them as well.

Stay tuned for the next video where you learn more about the SmartHive. And I BEE you next time!