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SmartCash Coin – Decentralized & Democratic Crypto Currency

The SmartCash coin, also known as SMART, is a democratic crypto currency that grants its users many co-determination rights. The blockchain enables elections and votes and at the same time rewards users fairly for participating in the platform. At the same time, fast and secure transactions are offered.

Everipedia writes on

SmartCash (ticker symbol: SMART) is a crypto currency that uses the SHA-3 algorithm: It was first announced on June 24, 2017. The maximum coverage is set at 5,000,000,000 SMART. On December 28, 2017, the volume outstanding was 520,499,451 SMART.

Like many other crypto currencies, the SMART coin can also be used for payments. One of the features of the crypto currency is „InstantPay“. This makes almost immediate payments possible. The feature „Renew“ encrypts the transactions. Renew uses the Zerocoin protocol. Behind this protocol lies a complicated procedure in which the transferred coins are split up and sent in their individual pieces. Thus, the transaction history is no longer traceable. The Zerocoin protocol nevertheless makes it possible for the coins to arrive at the correct address and in the correct quantity. Mining is also possible to earn a few Smart Cash Coins.

According to the developers, mining is designed to be egalitarian in order to prevent centralistic tendencies. The concept is called „SmartRewards“. Every month, a snapshot is taken of the blockchain and 15% of the revenue is distributed to all those who hold at least 1000 Smarts in the wallet. This should guarantee a certain price stability. The holding period of the coins is increased by this measure and short-term sales of the coins are prevented. Only 5 of the 15% go to the miners and the rest to the SmartNodes, which perform infrastructure tasks.

The core of the development is decentralized administration. With „SmartHive“, the users who hold the coin in the Smart Cash Wallet can take part in the votes on the future of the block chain by submitting their own topic suggestions. Anyone can take part. The elections are carried out via the „SmartVoting“ system. Every user of Smart Cash is allowed to vote on the topic proposals. After all, it is the „Hive Structuring Teams“ that are involved in implementation and planning.

SmartCash Coin and Ethereum code – Who is behind the crypto currency?

These teams work on the development and support of the Ethereum code blockchain. As the blockchain community grows, more teams will be formed. 70% of the revenues from the Blockreward can be used by the small team to implement the regulations. This includes paying developers, supporting the community or planning events. Smart Cash is based on decentralized self-management by the users and on democratic decisions.

However, development is not yet complete. SmartPay has yet to be implemented and a Smart Card and Merchan Reader will be added later. A mobile SmartCash Wallet will also follow.

SmartCash should live from the users alone and be able to develop autonomously. In such projects, where anonymity and the concept of cryptography in crypto currencies are particularly important, many teams prefer to remain anonymous. This also applies to SMART Coin development. On the developers‘ side there are only a few pseudonyms.

However, the team is not hiding. In the SmartCash Monthly Report it reports regularly and informs the users about new developments. The developers communicate on different social media with all interested parties.