SmartX Information Overview: A DAG Public Blockchain Project

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SmartX

3 min readJan 21, 2020

SmartX ($SAT) is unique amongst most modern blockchain project in that its team is sourced entirely from the SmartX community, having conducted no fundraising rounds to date. Founded in 2018, its core developers consist of former WeChat Pay and Tencent software engineers that are leading the charge in developing a decentralized, minable “transaction-based Directed Acyclic Graph (DAG)” that can achieve limitless scalability. This proprietary take incorporates key elements of blockchain into what is otherwise a DAG-based system. Because of this, the technology’s namesake is referred to as BlockDAG.

Project Development

The project was established in June 2018. Research and analysis of blockchain technology were conducted in those early days, leading to important design and development decisions around what was to become SmartX.

SmartX project was established in June 2018 and market research began.
Completed SmartX alpha version in March 2019

- April: Technical planning and feasibility study conducted.
- May: Full-time operations team formed.
- June: SmartX extended team formed.
- July: Published the first whitepaper, launched the first official website, designed and developed v1.0 of the airdrop/faucet campaign.
- August: Published second whitepaper, completed the development of airdrop/faucet campaign site (not open to public yet)
- Late August: Faucet 1.0 campaign started (airdrop)
- September: The rewarded SAT in Faucet 1.0 campaign was distributed. The Faucet campaign helped SmartX to accumulate a large number of overseas followers.
- October: The new official website was updated and the test network saw continued progress and development (75%).
- November: Improved the consensus algorithm of testnet and fixed known bugs progressively (85%)
- December: Faucet 2.0 was opened for internal testing, and the test network progressed smoothly and was ready to launch.