RE: Exploring SmartCash and Crave BlockChain Data - BlockChain Business Intelligence
Interesting write-up. SmartCash is however not a POS (Proof of Stake) coin. It is a POW (Proof of Work) coin using the Keccak Algorithm:
SmartCash Parameters
Coins per Block: 5000 coins (with gradual reduction per equation below)
Blocktime: 55 seconds
Maximum supply: 5,000,000,000
Blocksize: 1 MB (to be changed to Adaptive Blocks)
Algorithm: Keccak
Difficulty Management: BRNDF
There is a tendency for people to mistake it for a POS coin because of the SmartRewards.
SmartRewards are paid out from the 15% of coins mined from each block. The smartrewards do NOT bring the #smartcash into exsitence as in the case of Proof of Stake mining. The holder of 1000+ SMART do NOT need to have their wallets online to earn smartrewards as in the case of staking. The smartrewards are more like "interest" paid to a savings account or fixed deposit account (as the holder has to hold for a fixed period to earn the rewards)
I have updated the above to now say unlike. So are you saying that smart is mined and was not premined? Sorry if I have this wrong...its all a learning curve
Yes smart is being mined, and that's where the smart rewards, node payouts are coming from.....15% and 10% of the blockrewards respectively from all the blocks mined every month.
Hey, no offence here we are all learning and so many things that look the same in cryptocurrency space are actually different. SmartCash was not pre-mined. Like @simplifylife said #smartcash's mining is an ongoing process.
perfect, thanks for the explaination