SmartCash is leveraging on the cryto community so as to grow. The currency has already been launched in July 2017 and is now in circulation, with one of it’s key features being Smart Hive.
What Is Smart Hive?
Smart Hive is just one of the features that allow everyone to contribute to how the currency grows. With this decentralized organizational model, Smartcash intends to get the idea of decentralization in the core of the governance arrangement just the way blockchain is supposed to work.
With SMARTHIVE, anyone holding coins may vote on suggestions submitted by the neighborhood with every SmartCash Token being valued at 1 vote. Furthermore, it will allow anybody to get involved and submit proposals and therefore helping to generate organic growth at a grassroots level and thus developing a bottom-up management arrangement.
Smart rewards are designed to ensure stabilization and encourage long term holding. Other cryptocurrencies such as Bitcoin simply reward miners while neglecting different parties that play a role in maintaining, developing and promoting the project. SmartCash has another strategy.
Each wallet address holding at least 1000 SmartCash will get paid each month following an initial 30 day period of holding; in the SmartReward block reward allocation of 15%. Maintaining long term profitability is critical to the achievement of the job because the SmartHive treasury requires SmartCash to appreciate in value in order to fund purposeful 3rd party suggestions and hence grow SmartCash into a prosperous global cryptocurrency.
This attribute enables users to make new coins through the Renew feature in exchange for older coins. The new coins have no background but are nevertheless payable on a public ledger where all trades are readily exhibited for all to see and this is key when implementing with merchant systems. The Renew feature is very important to fungibility and wide acceptance of the currency.
This feature is used for point of sale and in-store purchases. Using Smartcash will enable users to cover all the everyday needs and trades like paying for coffee, buying gas, or purchasing a ticket and should be quicker than even Visa or MasterCard. These attributes are currently not feasible with currencies such as Bitcoin. This is expected to be in operation by late 2017.
Unlike other kinds of mining that call for a great deal of hash electricity thereby leading to centralization, SmartCash is creating a mining concept that prevents mining centralization whilst stimulating network development. Every computer can be utilized as a mining device when allowing the computer to be used for various other tasks. ASICs have yet to be made for Keccak mining algorithm and it seems they won't be created for quite a while.
For growth and wider adoption, SmartCash is currently leveraging on grassroots community outreach efforts and other established advertising and marketing procedures. Already, SmartCash is continuing to maintain meetups with blockchain fans, programmers, and merchants. One such meet-up was held in Nairobi in early August.
At the moment, interested users may download SmartCash wallets for Windows, MAC OS and LINUX in the their site. Mobile wallets are expected to be started very shortly. SmartCash will also be available in various exchanges and we'll update on this also.