What Are SmartNodes? - The Animated SmartBee EP03 For SmartCash

in #smartcash5 years ago (edited)

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 The 10,000 Smart collateral can be withdrawn at any time if needed.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!


SmartRewards still the best if you wish to earn passive income.

You gotta love SmartRewards! But the combination of SmartNode and SmartRewards is even better. :)

I agree with that...

another smart educational session with the smart bee ,keep it up bee;more smart words

yes @marshalllifie i follow and upvote you please do the same

It's a very good project in the crypto curreny world

Ha! Really pure presentation and full informative. Thanks for animated form!

Is it still 20 days with the new Nodes? I though it was changed. Also, not sure if this has changed yet, but you need to modify your smartnode.conf file to withdraw from the collateral wallet. Actually, no even with the latest wallet you need to modify the file or else you will get a message telling you that you have insufficient funds.

The change is happening on July 7th and the new code is already running. From then on new nodes will be implemented much faster and payouts will happen more often (with accordingly less sums) and totally automated, unlike before.

This is an advertisement and these types of posts will start to destroy Steemit. Unfortunately, this is no different than buying attention on other social media platforms, instead of putting it in a obvious add, its just now a post with a lot of influence.

I think it's best idia .it will go to moon

already there is 1000of new cryptocurrency are there. i dont say it gona be waist of time. but it was got new and more popularity. it will get success. all the best to smart bee

very nice project for criptocoin earning

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