Just what the hell is smartcash? Well, smartcash is a cryptocurrency. I will go more in depth about it in this post!
First of all, some tech stuff about it:
Blocktime: 55 seconds.
Blocksize: 1MB, and will be changed to adaptive blocks.
Max supply: 5,000,000,000.
Algorithm: Keccak
SMARTHIVE
This is where this coin begins to be interesting! This allows a decentralized governance structure, which allows EVERYONE that holds coins to vote on proposals submitted by the community! This allows everyone to submit proposals!
Hive Structuring Teams
Ok, I admit it I really don't understand this one. But it is supposed to keep development decentralized(there is no "core" team!!), so I think the smartcash site explains this best:
The Hive Structuring Teams (HST) will lay the groundwork for the project and set the framework for the project’s evolution. Initially, the Hive Structuring Teams will operate three separate departments in charge of vital project areas, such as development, outreach and support. Each of these three departments will end up employing people. As teams grow larger, bigger than eight members, more teams will be created, each with its own budget and team coordinator, operating autonomously without a central command and control structure in place.
SMARTVOTING
When you vote on a proposal, each coin is worth 1 vote. Nice and simple!
SMARTREWARDS
If you own 1000 or more coins, each month you get paid! Simple as that! Here is a calculator about how much you will get: https://smartcash.cc/what-are-smartrewards/#toggle-id-1
INSTANTPAY
This is a feature that is scheduled to come out this year that will let you make transactions instantly! But don't get me wrong, they are blazing fast even right now!
Some other stuff
30% of what is mined goes to the miners, and paying SMARTREWARDS and SMARTNODES(nodes that have 10000SMART, as far as I know they don't do much now, but in the future they will allow instant payments and more features when they get released).
70% to the community treasury.
Mining is lightweight, so even if you mine your computer can do other tasks. No ASICs have been made yet, so this prevents mining centralization.
SMARTCARD, which is supposed to work like a credit card is being developed. Adaptive blocks, invisible addresses Electrum wallet and much more things are being made!
Wallets:
The core wallets that require you to sync the entire blockchain.
Web wallet.
Mobile wallet.
Whewf, I think I said most of the important things about SMARTCASH! Soo much stuff is in this coin!
EDIT: Cheetah is here because I used a lot of info from the official smartcash website, I even quoted them! BUT I did not plagiarize! I rephrased a lot of stuff, made it more simple.
