SmartCash 1.2 Update Is Here - What You Need To Know

in smartcash •  5 months ago


The SmartCash update 1.2 is finally here. It brings new features and optimizations and requires us to update our wallets and our nodes. I have gathered some info in this post to help Smarties to stay up-to-date.



Here are the some of the most interesting updates with the new version:

  • Instant Pay
  • Three New Hive Teams
  • Auto Wallet Backup
  • Decentralized SmartRewards Distribution
  • More Frequent SmartNode Payments

InstantPay enables an instant payment system for the new SmartCards. I have already tested the new cards Beta version and they work great. This will be an essential element for merchant adoption. It is good to see this finally in action because all SmartNodes are running only to enable that. And while the rewards might be nice it is even nicer to see the intended functionality to make SmartCash more attractive to investors and merchants.

The three new hives teams are part of the decentralization plans of the community governance. The more teams we have who work independently the less centralized SmartCash will become. I am very interested in that concept and even consider working closer with SmartCash in that way myself.

The auto wallet backup is a function that I couldn't test yet. I have installed the latest dektop client for Windows but didn't find that option. But it sounds generally like a useful thing.

The decentralized distribution for the SmartRewards is an important step away from the corruptible manual distribution and will be fair, fast and precise. The same goes for the automated and more frequent SmartNode payouts. This will reduce confusion and some errors that have been made before due to the manual nature.


New wallet clients

If you use the core desktop wallets (not the new Electrum wallet) then you can find the updated version on the official GitHub repository. You should backup your old wallet before the update. Afterwards your wallet will have to sync the entire blockchain anew.

Update SmartNode servers

If you are a SmartNode holder you will need to update the new code until July 6th. I haven't done that yet myself but this tutorial looks simple enough to me. You have to upgrade your desktop wallet first and then run a few commands on your SmartNode server.


SmartBee Videos

For more information about SmartCash please watch the following videos:

Steemit: @smartcash

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I'm a bit confused with the whole wallet thing @flauwy. If I log in here:

Do I need to do anything? I thought not.


That's the web wallet. You don't have to change anything for the web wallet as far as I know.


Ok. Thanks for confirming that @flauwy. That's what I thought too! 😊

I'm going to try tackling upgrading my nodes and starting another one tomorrow, Wish me luck!


How did it go? I was successful with my first one. It sets back the timer so I will wait for my next one until I get my next payout.


Turns out I miscalculated my project list of the day, now it's back in the "soon" list.

very informative update about @smartcash our steemit community will take advamtage from it ,A lot of thanks friend

Amazing post baby 😍😍

thanks for keeping us updated with all the new update from smart cash


Thanks for keeping us
Updated with all the new
Update from smart cash

                 - blazing

I'm a bot. I detect haiku.

this good. thanks for the post. hey see my post is on spanish transalate for english for read.

Thank you for linking the tutorial, it made the process of updating much easier. @ironshield

thanks for this post, I'm just concerned about increased traffic on the network with increased smartnode payout frequency? could this be an issue? Also, not that happy about synching the whole block chain again with the latest wallet.... ahh I am sounding a little pessimistic I understand.....


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