My smartcash Smartrewards experiment

smartcash-experiment1.jpg

I have been a member of the smartcash community for quite some time. Smartcash is a very fascinating and innovative community driven cryptocurrency. The community is active and supports all the initiatives of the smartcash development team. The feature about smartcash that I find very fascinating has been the ability to generate a passive income merely by holding smartcash in your wallet.

The only criteria to be met is that you need to have 1000 or more smartcash in your wallet. Since they are so many types of wallets to store smartcash therefore one is free to choose whichever wallet that suits us the best.
A smartcash wallet can be obtained from here https://smartcash.cc/wallets/

For uses of desktop there is a wallet for Windows as well as for a mac.
For the Linux users there is a Linux version of the app.
There is and Android wallet and a third party Electrum wallet and the coinomi
I have been using the lightweight an easy to use web wallet.
The web wallet shows 3 addresses 1 is a spending address and 2nd and 3rd are the reward addresses.
When we try to send out smartcash from the rewards wallet we get an alert that we are sending out smartcash out from our rewards address.

This set me thinking that when it comes to getting smart rewards are all addresses same? or is there a difference between the spending and the rewards address.

I asked the few friends whom I knew as smartcash users however even they did not seem to have the answer to this question.

So the only way to find out the truth was to do an experiment. Here I planed to keep thousand smartcash each in the rewards and the non rewards address.
For this purpose I used a web wallet which can be obtained from https://wallet.smartcash.cc/

For those who are not aware as to how they can use a web wallet, it is a very straight forward process.
You just need to sign up and create an account at https://wallet.smartcash.cc/
Using a username and a password.
Once you login to your account you are at your dashboard.
This displays three smartcash addresses.
The first one is labeled as the spending address.
The second one is smart rewards address.
The third one is smartreward address 2

As I wanted to check that for the purpose of smartrewards the spending address would be treated at par with a smart rewards address therefore I deposited 1000 smartcash at the spending address.
It was a brave decision as if my experiment were to fail I would lose the smart rewards for that cycle and would have to start all over I again.

To ensure that I met all the smart rewards criteria I took care that once the thousand smartcash were deposited to the spending address there were no outgoing transactions from that address for the next 30 days. This was to ensure that the condition of the 30 day wait eligibility criteria for smartrewards was met.

smartcash-smartrewards-wide-info.jpg

On the 25th of the next month I got 27 smartcash credited to my account at the spending address that had my 1000 (actually 1000.998) smartcash.

Correspondingly a friend of mine had maintained 1000 + smartcash in his rewards web wallet address. He also got the smart rewards for the month. This was anyway the expected part.

This proved beyond doubt that when it comes to smart rewards all addresses are equal. smartcash does not discriminate between addresses.
As long as you meet the smart rewards criteria you get paid your smartrewards on the 25th of every month.

The smartcash site
https://smartcash.cc

smartcash on steemit
https://steemit.com/@smartcash

smartcash on twitter
https://twitter.com/scashofficial

smartcash discord channel
discord.smartcash.cc

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I would expect the snapshot would snapshot all accounts regardless. But its good to know that this "is" how it works.

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hi @thetimetravelerz

Piece of great work. So very easy to read and understand. Just a few small questions if you dont mind:

The feature about smartcash that I find very fascinating has been the ability to generate a passive income merely by holding smartcash in your wallet.

Is smartcash using masternodes or proov of stake (POS)? From my understanding those are the only two ways of generating passive ROI only by holding coins in your wallet.

You've also mentioned about smartcash community supporting this project. Is there any way to compare smartcash and steem community? That would give me some rough ideas about active amount of supporters.

Interesting experiment. Thx for sharing results with us. big fat upvote otw :)

Myself Im not very familiar with this project but I found your post very valuable and Im sure many people will see it that way too.

Yours
Piotr

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