SmartCash and if everything were a community "story!"
FEATURES (on 4/03/2018):
✅ Coin: SMART
✅ Price: $0.24
✅ Blockchain: SmartCash
✅ Algorithm: Keccak
✅ Consensus: PoW
✅ Max. supply: 5,000,000,000
✅ Total supply: 1,359,064,798
✅ Circulating supply: 758,020,519
✅ Ranking: 93me on 1534
✅ Capitalization: $186,478,354 USD
✅ Creation: July 2017
SmartCash was born from the desire of groups of developers to create a cryptocurrency with a model allowing to contribute to a mass adoption thanks to, among other things, fungibility. Fungibility is a very important concept that not only concerns the world of cryptocurrency (we will come back to this later), but also the speed of transfers with low fees, and here again it is very important.
Imagine paying for a sandwich in BTC? And you've seen the ETH fees??
The community aspect also has a very big role. The desire for decentralized community governance involves many stakes and makes me want to know more about this almost utopian project!
I'm going to tell you about my brother and our conversations about SmartCash. For once I felt more concerned about cryptocurrency and the blockchain because, as you may already know, my brother is not interested in crypto at all. So I'm doing my best to get him interested!
Come on, let's go.
"So, sister, today you decided to tell me about SmartCash. I just read what you have already written and for once the words you use (for now) speak more to me. I particularly remember the notion of fungible. Can tell me more?"
Well, I don't know why (perhaps because of your training in economics?!), but I expected this question first. :-)
So of course you know that a thing is said to be fungible when it is consumed by use, or when it can be replaced by an equivalent. This is the case, for example, of cash (species), but also of gold, wine, oil, etc.
And of course, for cryptocurrency too. This is important. I'd say even more—it's fundamental.
You see, for example, Bitcoin is not fungible.
So, if by any chance, you bought a BTC on a peer-to-peer platform and this BTC comes from the Bitfinex hack, well your BTC is worth nothing! It's incredible, but it's true!
So you understand why SmartCash says fungibility is very important! And as it goes hand-in-hand with anonymity, the roadmap predicts for 2018:
"All right, I also think a cryptocurrency that is not fungible has no future! So that's a very good point. Keep it up with SmartCash, you've caught my attention.ou mentioned the community too. Can you tell me more?"
SmartCash is based on the premise that for a mass adoption, a large community must be involved in the project and for this to happen, it must be rewarded. Usually, when a cryptocurrency is PoW almost all rewards are attributed to miners.
But that's not fair! With SmartCash, rewards must be shared with more people and everyone can find their place; you don't need to be a developer or engineer.
To make it clearer to understand, here is how the rewards of the blocks are distributed:
- 70% for SmartHive and HiveTeams,
- 30% for miners, SmartRewards, and SmartNodes.
So the closest thing I want to talk to you about is the SmartHive.
"Stop, stop, stop, I'm lost! Why are you talking to me about hive? And why not bees?"
It's simple and I think the idea of the name is great! I told you that there was no team (CEO, CLO, etc.) and that it was a project with decentralized, community based governance.
Well, this model is supported by a HST (Hive Structuring Team) which started the project. It's a bit like "the queen."
Currently, you have three hives with queens who each have eight bees!
So, if you have skills that can help SmartCash, and of course if you own SMART, you can become one of those little bees and be rewarded for it.
"Okay, that sounds great. But what are SmartRewards? I guess you need to have a big wallet full of SMART?"
No, you're wrong! You should start to understand the SmartCash philosophy!
And besides, it is a very important part of the project.
You are committed to keeping your SMART and stabilizing the currency.
Each wallet address holding at least 1,000 SmartCash will get paid every 30 days on average after the 25th snapshot date.
So if you own 1,000 coins—or about $210—on February 24th, you will receive interest about every 30 days starting on March 25th.
If you're curious, I suggest this calculator.
"I understood everything. You're going to be queen of the hive, my sister (laughs)! That sounds really interesting to me. I'm gonna have to go. Anything else to say to me?"
My brother, I could keep talking about Smartcash for hours because I didn't tell you everything. It also has:
- Atomic Swap,
- Instant Pay,
- SmartNode,
- And also what is rather rare, a certain number of merchants who accept SMART,
- SmartVote, (1 SMART=1 VOTE and therefore you have your say on the direction of the project!)
- SmartCard, and more.
I hope you got it all figured out. And don't hesitate if you have any more questions. You can also see their website which is very comprehensive.
See you soon.
Miss Crypto
Disclaimer
The information in this post is for information purposes only and does not constitute an offer or solicitation to purchase.
I urge you to do your own research.
Image sources:
To go further:
SmartCash Core is an open source project
Posted on Utopian.io - Rewarding Open Source Contributors