What is SmartCash (SMART Coin)

smartcash coin

SMART Coin Price

What is SmartCash? | A Quick Overview

SmartCash is a blockchain based currency and decentralized economy with community governance, cooperation, and a growth focus.

Similar to Bitcoin, this is a currency based asset aiming to be the fasting growing with the best community.

The History of SMART Coin

SMART coin was released in August 2017.

They did not have an ICO but begun with a few giveaways and launching on smaller cryptocurrency exchanges.

Since then they have been cracking down on their roadmap aiming to get all features up and running.

The Three SmartCash Coin Teams

SmartCash operates with the use of a few different teams:

Hive Team: Development

Responsible for building the coin and its applications

Hive Team: Outreach

Focused on community growth, building, and general user acquisition.

Hive Team: Support and Web

On-boarding and generalized support.

The Purpose of SmartCash Coin

With many different monetary based cryptocurrencies out there, this cryptocurrency was born with a few different characteristics in mind.

A viable, fungible, fast, merchant oriented, user-friendly, and community-driven cryptocurrency with a decentralized governance system.

Filling the gap of those coins which are getting slow and clunky.

In a nutshell this is a coin based on community governance allowing for voting, community discussion, and fast transactions.

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The Features of SMART Coin

The SmartHive and Hive Structuring Teams

SmartHive enables anyone who holds coins to vote on proposals submitted by the community.

Which puts the community at the center of SmartCash development.

Anyone can get involved and submit proposals, generating a bottom-up management strategy level and community input for growth.

While Hive Structuring Teams lay the groundwork and framework for the development of SMART coin.

Currently, this is the three teams listed above, although with growth and more responsibility more teams will end up being created.

These teams will be at largest eight members and will operate autonomously without a central command.

SmartVoting

With SmartHive all holders and community members of SMART coin will be able to vote.

Each token is worth one vote, and users will have the ability to vote in anything proposed by other members on the platform.

SmartRewards

This is a way to encourage long-term holding by allowing users to allow every address is holding 1000 or more SMART coins to get paid out every 30 days.

This comes out of the 15% block creation allocation to SMART coin holders.

By holding SMART coins, users can make back a percentage every single month.

Renew

With any cryptocurrency, fungibility is one of the major selling points.

What is Fungibility?

When something is fungible, it means that it is worth the same as other copies.

Meaning 1 BTC is worth 1 BTC, regardless of the previous uses.

This allows users not to buy “dirty” money or anything like that.

With SmartCash they are using the Zerocoin implementation into their code.

This allows the user to “create” new coins using the renew feature, these coins have no history (as the history from the old coin is erased) and are still available on a public ledger.

InstantPay

Implemented to help merchants accept payments and users pay immediately, Instantpay is a way to keep SmartCash at a blazing fast speed.

Regardless of what you are buying or how much SMART coins are being used. This is a process of allowing scaling and is currently being implemented into the SmartCash code.

What Do We Think About SmartCash?

This is another take on a currency based cryptocurrency.

And with their implementations and community, it can be a strong project, moving up in the rankings lately.

We currently do hold SmartCash as the community is what makes a lot of these cryptocurrencies. While it is not on any of the reputable easy to use exchanges yet, it is a currency to watch and may increase in due time.

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February 23rd 2018, 06:10