Spacemesh Proof of Space-Time Blockchain Project Gets $3 Million in Seed Round
$3 Million Raised Towards Fair and Open Blockchain Infrastructure from Spacemesh
One of the latest projects from the crypto-community, Spacemesh, may help to fix some of the issues of former blockchains. The blockmesh they are establishing will help with fair, distributed, secure, and scalable smart contracts. Spacemesh will be using a consensus protocol that eliminates the need for Proof of Work (PoW) and introduces Proof of Space-Time (PoST).
We are super excited to announce our open source #spacemesh project and to publish our proof of space time and #blockmesh white paper. Head over to https://t.co/QejPrw0uAB to learn more and to join the conversation. Calling all #buidl s – the revolution will not be centralized! pic.twitter.com/SnwdXKurw4
— SPACEMESH (@teamspacemesh) May 7, 2018
The Spacemesh infrastructure is welcoming for newcomers, allowing them to contribute with the available space on their computers and hard drives. These blockchains help users to run the nodes on their desktop, rather than using cloud computing, which means it probably will not ever be unnecessary. Unlike virtual mining pools that require a portion of the profits that investors make, Spacemesh eliminates that advantage to preserve its necessity.
This protocol has the necessary power to support a highly scalable network, keeping up with the demand for thousands of transactions every second, without putting the decentralized platform at risk. Everything is based on mesh topology, which requires no race, but still allows for incentives. With this intricate structure, the miner can be sure that they get a fair portion of the rewards that they qualify for. Blockmesh also gives the opportunity for rewards more often than the current blockchain, which means that there is no need to focus entirely on centralized mining pools for profit and incentives.
Cryptocurrency, as an industry, can conform to the needs of a merit-based, egalitarian economy, using blockmesh that offers equal opportunities for any investor that takes the time to make a change. With natural talent being the cure to inequality on these databases, investors have a greater say in the results they end up with. Other options waste energy and resources constantly, which is why blockmesh could be a victory for all investors.
Spacemesh has not made their services available quite yet, as they are presently working on the development of the blockmesh OS. As soon as it is complete, Spacemesh has already promised that there will be no loss of decentralization, which is the whole point of crypto-trading in the first place. However, unlike others before it, there will not be a public ICO.