SmartCash: A Unique Self-Funding Governance Model Built On A Privacy-Focused, Community-Centered Crypto-Currency, Utilizing The Zcoin Protocol.
Smartcash ($SMART) brings a Unique Governance System to the market. It serves as both a self-funding feature to support its development, and, its community; Called the “Smart-Hive,” it’s a fully egalitarian governance system in which 80% of the block reward is allocated to both development of the coin, and, to fund projects the community votes for. It is a kind of radical egalitarianism, in that, any person who holds just a few hundred SMART can vote, and thereby have sway of the projects’ growth and development as it evolves.
Released just a few weeks ago, $SMART is a tradable bitcoin currency pair on the NewZealand Crypto-Currency exchange “Cryptopia,” (https://www.cryptopia.co.nz/) and, as of today, becomes a Tradable $BTC pair on “BTC100,” (https://www.btc100.cn/), It’s first Chinese Exchange.
There are a number of rather brilliant incentive systems that reward members for their involvement with the community. I think they are likely to make adoption rapid, even if one did not consider that the technology of the Zcoin protocol is the best privacy system to date.
Firstly, there is the “Smart-Rewards,” system, in which, on a monthly basis, a snapshot of the blockchain is taken and then 15% of the block reward is distributed to addresses that simply held their SMART in their wallet. This is essentially a form of compound interest that can return up to 5x in the first year, tapering off slowly as the block reward decreases.
Mining is meant to be egalitarian as well, as described in this excerpt from the website: (https://smartcash.cc/), “SmartCash mining prevents mining centralization and stimulates network growth. Every computer can be used as a mining device while still allowing that computer to be used for various other tasks. ASICs have yet to be created for the Keccak mining algorithm and it’s probably safe to assume no ASICs will be created for quite some time, until Smartcash reaches a considerable market cap.”
SMARTcash, much like DASH, or PIVX, will have Masternodes enabling instant transactions, and intends to become readily usable for day to day Mercantile Activity. The “Renew” feature of the Zerocoin protocol enables transactions to become entirely private by using a transaction mixing technology that refers backwards to all previous transactions in the blockchain; called “Ring Signature Accumulators:” a feature not found in DASH or PIVX. It is, however, something PIVX seeks to implement as it adopts the Zcoin anonymity protocol. Essentially, the more SMART is used over time, the stronger it’s anonymity gets. This is also an improvement over Monero.
In the “Smart-Hive” governance system, small teams of 4 to 6 people can be formed, and a percentage of the blockchain rewards will be used to fund these teams putting on events for the Public, or to pay coders to continue to develop the $SMART code-base, or anything else from SEO, marketing, to community support and outreach. It’s entirely the communities’ decision how to allocate the Pool of Funds. I’ve researched many Crypto-Currency projects in the last 6 months, in that I am a full-time Crypto Trader, and I have not yet seen such a radical combination of Privacy Features, unique Self-Governance and Funding Models, along with powerful incentives to join and participate in the communities’ growth, or simply hodl the coin. I am impressed, and intend to participate in this project over the long term, much in the manner I am currently doing with the HTMLcoin team.
This is a brand new Crypto-Currency that I would characterize as a kind of “Evolution,” not just in money, but also in Crypto-Governance, it is Radical Direct-Democracy, and its about time something like this has been created. I am rather excited about this Proto-Government and Crypto-Currency, and hope to see It soon added to Bittrex, and spreading the Ideals of Self-Governance, Privacy, and Community as it is used across the world.
For Full Disclosure, as a Crypto-Currency Trader, I have taken a position in SMARTcash, and do expect It’s valuation to rise in the Future, but this is not investment advice, it is merely my opinion.
Smart cash is giving away 200 SMART to people who sign up to the sites’ forum and fill out a profile: (https://forum.smartcash.cc/t/were-giving-away-200-smartcash-to-everyone-who-fills-out-their-forum-profile-and-answers-these-questions-ends-friday-sept-15th/211)
This links to SMART’s First Monthly Report: https://steemit.com/smartcash/@smartcash/smartcash-weekly-recap-3-new-exchanges-0-fee-mining-pool-live-ambassador-program-first-monthly-report-is-out-network-hash-rate
