Smart Cash

in #smartcash5 years ago (edited)

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Smart Cash

Smart Cash traded as (SMART) on global exchanges is on the cutting edge of economic technology its properties only exist in data, this virtual cash is a tool built to free people around the world from the economic difficulties and turmoil. Built deep in the digital protocol resides a price stabilization mechanism called “Smart Rewards” and a very powerful human right privacy feature called “Renew” this is a true cryptographic anonymity feature that uses Zero-knowledge proofs from the zerocoin extension.

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Privacy

Smart Cash is very big on privacy and sees it as a basic human right the feature known as Renew essentially allows you to send the coins to a new address on the blockchain but will not be recorded on the blockchain as the coins are burnt and sent back after a minimum of 10 minutes wait to a new address randomly generated by your wallet, waiting longer than 10 minutes allows for more entropy.

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In your wallet holds a massive pool of address exactly 2^160 possible addresses using RIPE-MD160, RIPEMD-160 is a cryptographic hash function based upon the Merkle–Damgård construction. It is used in the Bitcoin standard.

2^160 we are talking big numbers here
1,461,501,637,330,902,918,203,684,832,716,283,019,655,932,542,976..
Addresses, quick fact this is more than all the stars in the universe!

Mining

Smart Cash uses an algorithm called Keccak SHA-3 this is ASIC resistant and allows people from all around the internet to mine the coin with fair advantage, this specific algorithm allows people that have a desktop computer with a powerful graphics card the same ones that play modern games usually from Nvidia or AMD to mine the coin and take part in the blockchain economic policy. In return you are rewarded with Smart Cash for the calculations needed to secure the blockchain.

Unlike Bitcoin where application-specific integrated circuit chips or ASICs are allowed to mine means only massive data centers full of ASIC Miners around the world are able to mine bitcoins, an unfair advantage for the small guy.

Government

Smart Cash truly gives back power to the people that has been taken away by the greed of humanity it was built for the people by the poeple, a virtual decentralized reality where holders of the coins can vote on the future direction of the economy call it a secure virtual decentralized government or (SVDG).

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Deflationary Currency

Unlike the currency in your bank account or cash (Fiat Money Currency) issued by today's Governments across the planet which is inflationary, meaning it looses purchasing power every day, cryptocurrency is the opposite think Yin and yang.

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“In Chinese philosophy, yin and yang ("dark-bright", "negative-positive") describe how seemingly opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world, and how they may give rise to each other as they interrelate to one another.” - Wikipedia

This advantage of a decentralized currency is that your purchasing power will increase over time as opposed to decreasing over time hence why everything in the world is getting more expensive no matter which country you live in, this is because we are still using this ancient monetary policy where central banks printing and issuing money every day increasing the planets debt, a debt which is not sustainable.

The Hive

The community is the biggest factor in Smart Cash and collectively they form the hive a grassroots movement working together to better the collective hive. A good analogy is bees working together to sustain the global food ecosystem and help the fauna and flora in the world.

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The Hive gets 80% of the rewards of the coins produced by the blockchain in total there are 5,000,000,000 SMART (Five Billion SMART) but the supply is slow and will take a long time to get to the maximum amount, the best thing about this model is that 80% is sitting in the Hive treasury and will only be spent when the consensus agrees on a project that will benefit the collective hive.

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The hive is responsible for the collective governance and economic policy, with the power to vote anonymously. Creating and proposing new ideas help promote Smart Cash and its features for all to collectively succeed.

Amazing humanitarian efforts are already underway in Venezuela South America and proposals for Africa to leap frog the current archaic un-banked population, anyone can take part in a proposal and better the hive creating a better world.

Smart Rewards

Smart rewards are a great price stabilization mechanism built into the protocol they allow long term holders a reward bonus for helping the price stabilize. Each address holding more than 1000 coins will be eligible for the monthly reward that is on the 25th of each month. 15% of the total coins mined will be put towards the reward, if coins are spent or moved from the snapshot date to the payout date then the address will be ineligible for the reward.

Thank you Steemit for allowing me to post this article on Smart Cash where it can never be shut down or censored as its embedded on the blockchain where it will remain forever!

Too learn more about #SmartCash please visit

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