SmartCash Today - July 8th 2018
CHANGES ARE HERE
If you have been following the #smartCash news you will have noticed a lot of new features have been added in the last few weeks. These features and avenues have increased the opportunities to interact with #smartcash as a user, and at the same time, some old features we have all gotten used to have changed in ways that could potentially be a shock to you if you are not prepared.
The eagerly awaited blockchain fork at 545005 happened over the weekend.
It was a relatively smooth transition for the average users. The miners on the other hand seem to be having issues with the mining software. The hard-fork brought in some changes which include:
- Two New Hive Teams with their own budget
- Frequent payment for smartnodes
- SmartRewards to be issues from the blockchain and no longer collected in one address
Prior to the release 1.2.3, #smartnodes owners got paid an average of every 10 days and got the entire 10% of that block reward, which at the last payment on the old system was about 132 smarts, this will now change to several nodes sharing the 10% allocated to the smartnodes on each block allowing for more nodes to be paid on each block. If you have not looked at your #smartnodes payments recently, the next time you look you will see payment(s) of about 26 smarts! Don't be alarmed. You will not be getting about 26 smarts every 10 days, but every 2 days if the node counts and stays about the same.
The big change here: smaller but more frequent payments to node owners
One of the first things everyone gets to understand about #smartcash is the #smartrewards feature. This is the feature where a holder of 1000 #smartcash who does not move it during the cycle from the 25th (snapshot) to the 25th of the next month is paid #smartrewards. These come from 15% of the block reward during the period and, they are shared out to all addresses that qualify.
WHAT HAS CHANGED ?
- SmartRewards are to be mined directly from blocks and paid to your address. These coin will now show on your transaction list as Mined and not Received as it previously did.
- SmartRewards will no longer be paid on a specific date
- Snapshots will be based on number of blocks and not calendar date
The question you should be asking yourself now is, what should I do?
- Leave your smarts in an address in which you control the private keys as usual
- Do not panic if you don't see a payment on the 25th of the month as before.
- Recognize the #SmartRewards will show on your transactions as Mined, same as your #NodeRewards if you have one so watch out for it.
- Engage with the SuportBot on discord for timings on snapshot, block height details and others.
- Use your ClientNode's (desktop wallet) #SmartRewards tab to get specific information for your addresses.
- Remember it's block height, not dates that now matter in you being qualified for smart rewards.
As we go through the first cycle in this model all will become clearer. Let's be a little patient as we watch things unfold, and try not to panic.
#SmartCash is exactly at 100 on the coinmarket-cap. It may have been lower but I cannot say I am diligent in tracking that. I checked today and noticed the nice round position of 100. I also noticed that you can now buy #smartcash directly from coinmarketcap using the Buy/Sell Instantly button. Please visit the #smartcash website for up to date information and for help on anything smartcash discord
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