Checking Out SmartCash (SMART)
Yesterday I looked at OKCash (OK). Today it’s SmartCash (SMART).
SmartCash is a community governance, cooperation and growth focused blockchain based currency and a decentralized economy. It’s a fork of Zcoin that launched in the second half of July.
This is a proof of work cryptocurrency. Currently 849 million SMART tokens are outstanding and there will be a total supply of 5 billion. The block time is 55 seconds with a block reward of 5,000 that gets gradually reduced. You can find the formula here.
This coin has an interesting distribution of block rewards. Out of each reward, 80% goes to fund SmartHive community proposals. Out of the funds that go to SmartHive, 30% goes toward ongoing maintenance of the SmartHive Structure and 70% goes towards the community treasury for projects. Out of the remaing 20%, 5% goes to miners and 15% to SmartRewards.
SmartHive is a community group of developers and crypto professionals. They currently have a team of 13. You can find a list of proposals here which voted on by the community (which means you if you hold SMART in a SmartCash wallet).
Recently two projects have been approved. One called SmartDirect for P2P fiat to SMART exchanges. The second is for a Steemit Guild for SmartCash. So it looks like we’ll be seeing more of SmartCash on Steemit soon. Currently over 60% of outstanding SMART tokens are with SmartHive for development.
SmartRewards is a mechanism to encourage long-term holding of the SMART token. What you need to do is own at least 1,000 SMART tokens and then hold them in your wallet for at least 30 days. That entitles you to a portion of the mining reward allocated to SmartRewards. According to their calculator you would earn 126.9 SMART from a 1,000 SMART. You can do the math, that’s pretty good. I’m definitely going to check it out.
Also keep in mind SmartCash is a fork of Zcoin so it uses the Zerocoin protocol, making SMART tokens private and fungible.
Let’s take at look at the price history of the SMART token. I should have written about SMART first, lol.
SmartCash is progressing nicely on its roadmap. It looks like it will have a web wallet soon and mobile wallets in the near future. After that it’s smartnodes, instantpay, adaptive blocks, and Smart point-of-sale.
This is a really interesting project. I like the open-source community concept and I definitely want to try my hand at earning some SmartRewards.
The only drawback is that it looks like the only exchange with any liquidity is Cryptopia.
What do you think of SmartCash?
Good article, SC is the best!
I like how this is a real community coin!
Good to hear.
Cheers!
@g-dubs this is an interesting token. I got interested and downloaded the wallet, however, when I tried to launch it I got a message in my computer saying that it may harm my computer. Not sure why. Do you know this issue with the wallet for windows? upvoted. @gold84
I'm going to check out the wallet soon, I'll keep you posted.
@g-dubs did you already invest in SMART? I placed something there, but will need to wait for Dec 25th to check for something. @gold84
Not yet... I need to get on Cryptopia
hey @gold84 because of the built in miner in the wallet it can flag on some anti-virus programs, because this built in mining functionality causes a false positive... with the new update for the wallet this will be fixed :)
I’ll have to look and do more research about, I seen it a while back and was confused lol
Sorry to butt in just wanted to help. Here is the commands to control the tip bot here in steemit @smatbot help this is an additional stream of income or reward system that you can directly control here in steemit comment field. Hope this one helps :)
Yea this one is going to be a little work. First cryptopia, then the wallet, then SmartRewards... and I think there's a way to tip w SMART on Steem. If I figure it all out I'll do another post.
@smartbot help
You can use the following commands:
balance- displays your current wallet balanceaddress- displays your deposit addresswithdraw <address>- withdraws your whole wallet balance to specified addresstip <nick> <amount>- sends the specified amount of smartcash to nicknameterms- displays terms and conditions for using @smartbot@smartbot tip @g-dubs 50
Σ$$$ Tipped @g-dubs
Σ50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.091 USDperSMART. Current value of the tip is$4.55 USD. To find out more about SmartCash, please visit https://smartcash.cc.@smartbot help
You can use the following commands:
balance- displays your current wallet balanceaddress- displays your deposit addresswithdraw <address>- withdraws your whole wallet balance to specified addresstip <nick> <amount>- sends the specified amount of smartcash to nicknameterms- displays terms and conditions for using @smartbot@smartbot tip @stackin 50
Σ$$$ Tipped @stackin
Σ50 SMART! Comment@smartbot helpto claim. Currently the price of SmartCash in the market is$0.091 USDperSMART. Current value of the tip is$4.55 USD. To find out more about SmartCash, please visit https://smartcash.cc.Thanks for deciding to check this out @g-dubs! I think it will be a power coin in the future! What is notable is that there is almost always a pump before the Blockchain snapshots take place on the 25th of every month and then when that snapshot for the smart rewards has taken place there is a big dump usually. I am very excited for more projects to get voted for because I think in the end the most powerful cryptos are the ones that give us the power to VOTE!
That's good to know about the 25th, thanks!
I like the idea of having a vote too... wish it was available for Steem.
Steemit let’s us vote on posts and comments and witnesses which are important too but SmartHive voting guarantees a certain amount of SMART if the project gets voted on and passes. Truly revolutionary, I’m considering doing crowdfunding through SmartCash to help those in need! I honestly think it will be a power coin, more so than the current privacy coins which don’t provide as much utility! Imagine if ZCash announced they would start giving 80% of block rewards to charity LOL I think this will be a top 10’er one day, I know it sounds crazy but it’s a game changer. And I know cryptopia and coinexchange suck ass but trust me you wanna get this coin under 2,000 satoshis!
its great
for every 100 usd you get 12.6 usd every month
and that number goes up when the price goes up
that's one of the best staking rewards i've seen!
The rewards change based on how many are being mined in the month vs how many are eligible addresses there are at the end of the snapshot period for the month
great token
Interesting it looks like it could build traction nice node rewards at market rates too
great job.
Thanks!
Upvoted@ followed
Cheers!
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