SmartCash cryptocurrency appeared in 2022. It was created as a fork of Zcoin (ZCX). SmartCash is not just a blockchain-based cryptocurrency, but a decentralized economic system driven by the community for mutually beneficial cooperation and growth.
Why was the SmartCash cryptocurrency created?
Smart Cash cryptocurrency is a blockchain project whose goal is to create a universal coin with fast transaction execution. The developers want to make digital currency as convenient as possible for daily payments in such a way that it will be accepted by the business environment.
SmartCash or simply SMART appeared on July 11, 2022 as a result of a fork of the Zcoin cryptocurrency. The ecosystem being created is based on decentralized governance principles and community decisions made through voting. The network has a voting procedure in which 1 vote equals 1 SMART.
The main features of the project include:
- ease of scaling;
- ease of use;
- high levels of confidentiality;
- focus on the trade sector.
A large team of specialists is working on the development of the startup, the list of which is periodically updated. To organize the work, the team chose a model of a honeycomb or anthill - Hive Structuring Teams (HST, hive - English hive
). Everyone can join in the development by joining groups of no more than 8 people to implement individual tasks. Therefore, the number of employed specialists is constantly changing.
The permanent team members include:
- Jeremy Mouse is one of the creators of the project. He had a hand in the development of SmartCash POS.
- Leandro Reinaux - works to improve the ecosystem. One of those responsible for the performance of applications and services.
- promotion and marketing coordinator with the nickname InTheWoods aka JuicyG.
As of July 2022, the project has already gone through several stages of releases: Smart Rewards, Smart Hive voting, mobile wallet, Smart Webwallet, SmartNodes, InstantPay, Pay to email, Electrum and others.
What does the company/project do?
SmartCash is a project that grew out of the desire to create a universal cryptocurrency with fast transactions that is not only viable, but also user-friendly.
SmartCash provides convenience for sellers and buyers, has a decent level of confidentiality, is built on the principles of decentralization and is managed by an internal community.
We are now striving to create the most flexible and fastest-growing offering in the cryptocurrency market by prioritizing rewards, expanding our community, hiring developers, interacting with trading and advertising platforms, and actively promoting SmartCash through outreach methods and through official channels.
Smart Cash cryptocurrency: review of technology and features
Like any cryptocurrency, SmartCash has its own technical features. Let us dwell in detail on the most important nuances of the operation of this coin.
The network operates based on the Proof-of-Work consensus algorithm. The peculiarity of the token is that PoW miners receive only 5% of the reward for each mined block. Another 15% of the reward goes to the SmartRewards program. These funds are transferred to permanent SMART token holders. Another 10% is received by users who deploy SmartNodes network nodes. The remainder, 70% of the tokens, goes to the development of ecosystem applications through Hives.
This is the main difference from other cryptocurrencies, since here the reward goes not only to miners, but also to ordinary token owners. Although there are other projects that make contributions for development, for example, Dash.
Basic technical characteristics of the Smartcash cryptocurrency:
- it takes 54 seconds to create a block on the network (Bitcoin takes 10 minutes);
- reward for each new node generated - 102 coins;
- the maximum emission size is 5 billion tokens. As of July 2022, over 1.6 billion SMARTs were issued;
- It takes about 1 second to process one transaction on the network. The operation itself begins to be carried out even before it is entered into the blockchain. At the same time, the security of the network is not compromised because of this - transactions are marked as scheduled for entry into the blockchain chain, so all network nodes will already contain information about the operation that cannot be changed.
The project team, for the purpose of more rational development and management, uses the concepts of Hive Structuring Teams and SmartHive. All decisions in the system are made by voting by its community. Here, each user has the right to directly participate in the development of the project.
Anonymity in the system is achieved by introducing a protocol with extraneous data into the code and using Smart Privacy technology. This should confuse potential hackers as much as possible.
Another unique feature of the project is the Rewards reward system, which was created to reward long-term holders of SmartCash tokens. It also helps reduce speculative trading on exchanges and encourage people to keep coins with them. Rewards are accrued every 25 days. To do this, the cryptocurrency must remain in the account for at least 30 days. To participate in Rewards, your account must have at least 1000 SMART.
Smartcash branded beer is one of the proposals that has been supported by the community through the Hives system.
Comparison
Jeremy Mouse, aka Solarmminer , denies when asked if SmartCash is just a copycat. He explains several community management mechanisms that require huge amounts of currency before you can vote.
SmartHive allows each holder the right to vote, and now the question is how little currency they own. He said:
“SmartCash believes that everyone can have a say in the project, rather than users needing to know how to maintain a server or deposit large amounts of funds. We'll make it easy, as easy as sending an email to vote."
Mouse further explains that SmartCash owners can vote on proposals and choose the most effective projects for SmartCash. Therefore, he points out another difference between his currency and other systems of government:
“There are other projects that dedicate a small portion of the budget to development or proposals, but SmartCash is the first to allocate 80% of the rewards for participation in development, support, outreach and community proposals.”
Smart cryptocurrency: rate and growth prospects
At the very beginning of the project, coins were selling for $0.016. The rate reached its maximum in January 2022 – $1.95. The special thing about SmartCash is that thanks to the Rewards program, the total money supply is linked. This helps stabilize the token rate, especially compared to other cryptocurrencies.
Therefore, when the market rushed down, only Smart cryptocurrency felt more or less stable. The coin price did not have big ups and downs.
At the time of the review on July 21, Smartcash occupied 103rd place in the overall rating of digital currencies and is traded at an average of $0.085, capitalization is $101 million. The coin has remained at this level since the end of May 2022. The small rate is mainly due to the significant emission of coins and the youth of the project.
The project is at the beginning of its development, but the roadmap shows that work is being carried out quite actively and so far the team is coping with the planned releases. In 2022, SmartCash developers plan to implement:
- Smartcard is an analogue of a bank card for storing currency offline;
- invisible addresses;
- Electrum wallet;
- InstantPay payment system;
- the ability to perform multi-currency trading;
- launching SmartNodes, etc.
You can learn more about the project plans for the current year on the official website.
Frequently asked questions about the exchange rate forecast on SmartCash
These are some of the most frequently asked questions that investors ask related to SmartCash price forecast.
Is SmartCash a good investment?
Many experts and traders believe that SmartCash has been a great investment for a long time. Surprisingly, the cost is rising. Therefore, it is guaranteed that the investment will generate good returns.
how much will SmartCash cost in 2025?
Many platforms and analysts believe that the price of SmartCash will continue to rise in the next 5 years, surpassing $0.015 by the end of 2025. Even if the price seems stretched, you'll never know. SMART and other cryptocurrencies are highly volatile and can change direction at any time.
How much will SmartCash cost in 10 years?
The probability that the price of SmartCash will rise to $0.098 in ten years is much higher. Value 1 SmartCash could exceed the minimum price of $0.094 and the maximum price of $0.11 over the next 8-10 years.
How to get Smartcash cryptocurrency?
To mine Smartcash, you need a computer that can perform algorithmic calculations and still continue to work as a regular node. Mining here is based on the Keccak algorithm. As of today, it is not yet possible to mine coins using ASIC. Miners have the option to use AMD or Nvidia video cards. Accordingly, there are two production programs:
- Miner for AMD GPU;
- Miner for NVIDIA GPU.
For one created block, the Hives and Rewards programs receive only 5% of 102 coins. By multiplying the number of tokens by the speed of block generation, as well as minutes per day, you can find out the income per day, week and month. To increase mining efficiency, you can use official Smartcash pools:
- for Europe;
- for Asia;
- for America.
Official pools do not charge commissions from participants.
Cryptocurrency can be traded on just a few exchanges. The largest in terms of volume is HitBTC, where users exchange SMART for more than a million dollars per day. On other sites the coin is much less popular: on CryptoBridge and CoinExchange we are talking about volumes of thousands of dollars, and on Stocks.Exchange, Coinbene and Trade Satoshi about hundreds of dollars a day.
You can only buy SMART with Bitcoin, Ethereum, Litecoin, Dogecoin, Tether and Bitcoin Cash.
Where to store SMART?
You can store tokens on several types of wallets. You can download a complete wallet with all the blockchain and functionality to run your node on the network (Windows, macOS and Linux). The currency is also supported by the lightweight Electrum wallet (Windows, macOS and Linux). For smartphones, you can use a third-party solution - Coinomi and Ethos (iOS, Android). Access to currency can also be stored in a “brain wallet” by memorizing a special phrase of 12 random words. All wallet options with download links and installation instructions are available on the project’s official website.
Cryptocurrency Smartcash: is it possible to earn money?
SmartCash is at the beginning of its journey, which creates certain difficulties in predicting its future. It is not yet clear whether the team will be able to successfully implement all the tasks set in the roadmap and compete with Dash and other similar altcoins. Although the team still fulfilled some of its promises.
The main challenge in turning SMART into a means of payment will be the ability to convince businesses to accept coins and users to pay for goods with them. So far, based on the extremely small trading volumes on exchanges, user interest in the currency is not too great.
Disclaimer
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The editors of BITSIDE do not encourage investing in specific cryptocurrencies. Do not regard the material as a guide to action. Conduct your market analysis before investing in virtual coins; do not invest more than you are willing to lose and remember the risks.
