SmartCash: A Blockchain Based Decentralized Currency
There is an expansion in the number of blockchain based projects concentrated on privacy in recent months, and SmartCash is among the most recent cryptocurrencies to appear in the market. Creating an incentivized and decentralized community capable of supporting SmartCash is not an easy achievement.
The project has a catchy name, but other than that SmartCash needs to prove some use case scenarios to become the next big thing in the crypto world. Essentially, SmartCash project center on the community cooperation and governance and it also focus on blockchain based development. It uses the validation of work algorithm to provide the coins so it can be mined and to prevent centralization of mining it utilized with ASIC resistant algorithm.
SmartCash has developed a vibrant ecosystem. They have many projects, and one of them is called SmartHive, which will allow the community to decide what’s appropriate for the cryptocurrency. Because of this, users can also take control of the governance of SmartCash and can also contribute further to developing the SmartCash system.
How Does It Work?
SmartCash principally concentrates on community building as the SmartCash community will have the governance and service of the whole platform. It is a growth-focused blockchain solution based currency which provides a decentralized economy. The users can utilize SmartHive to control the future of the coin itself, and the governance, budget and further development of the community. It is a great way to give the control back in the hands of the users. Overall, it is a community driven and growth based cryptocurrency.
SmartCash Special Features
SmartRewards are a price stabilization mechanism and SmartCash’s strategy to encourage long-term holding. Long-term holders are vital to the project’s progress since the SmartHive bank requires SmartCash to consider in value to finance essential 3rd party programs and assist in developing SmartCash toward a prosperous worldwide cryptocurrency. For each wallet address holding by at least 1000, it will be financed in every 30 days on regular following the 25th snapshot schedule. SmartRewards come out of the 15% block reward allocation.
InstantPay is a key feature of SmartCash that enables instant point-of-sale in-store and online purchases. People can use cryptocurrency as a method to pay for their everyday necessities. InstantPay makes that a reality and permits for processes to happen instantly, even quicker than utilizing Visa or Mastercard. It is currently not possible with Bitcoin because of its technological boundaries and network constraints, which result in transaction setbacks and high charges. This feature is expected to be launch in 2018.
Crypto Exchange Markets
SmartCash is the relatively very new cryptocurrency that is it not on as many exchanges as they would like it to be. But anyway SmartCash can be traded on many exchanges that offer to buy or sell the SmartCash tokens. Before using these exchanges, a user needs to sign up for these exchanges to start trading. SmartCash coin is available ont the following exchanges listed below:
- Trade Satoshi
The future of SmartCash is a possible success as they have multiple products lined up for release. Many improvements can be made on the SmartCash. Their InstantPay feature is still in development and their Electrum wallet is not completed yet. So when all of this is done, it surely has a positive impact on the trading price.
Their smartcard and merchant reader is still in development phases, and many other protocol updates are lined up. Other cool features like atomic swaps and BIP47 support are still in development phase. And their community has put aside 3.2 million SmartCash for these developments. The total number of projects that are still in development phases is 15 which are massive keeping in mind the distributed governance model of the ecosystem. It is operating quite well for them and the community. It can be evaluated that there is a lot to be developed on the SmartCash ecosystem once the team is done with the advanced phases of these projects it’s looking considerably satisfying.