What is SmartCash and How to Exchange SMART?
The crypto industry has seen a lot of positive change in the last few years than it has ever before. Major cryptocurrencies such as Bitcoin, Litecoin, and Ethereum have increased tremendously in both their price and adoption. As their prices soar, many ‘newbie’ investors are setting their eyes on lesser-known altcoins with the potential to grow in the long term. One of these altcoins is the Smartcash coin.
SmartCash was launched in 2017 as community-centric crypto where community and development are at the forefront. It operates as an end-to-end digital currency platform with features similar to Dash privacy and speed of transactions. However, unlike Dash, Smartcash is heavily community-based and is in reality a Zcash system hard-fork. One of its most distinctive features is its complete distrust of central authority.
In this Smartcash review, we are going to take a look at what SmartCash is, its key features, and how you can exchange SMART on Swapzone. Let’s dive in.
What is SmartCash?
Smartcash is a community-driven digital currency built on the Zerocash protocol that relies on decentralized governance. It invests heavily in community-based appointed development whereby it prioritizes block rewards to growing its community. Since it focuses on providing anonymity and increasing transaction times, it has gained quite a popularity among users. Its native platform token is known as the SMART coin.
All transactions that take place on the SmartCash network are recorded in blocks on the platform’s blockchain. Each transaction is measured in bytes. However, there isn’t any correlation between high-value transactions and the number of bytes required to process the transaction. Each new block is generated by a miner, who gets paid with a block reward.
A SmartCash node is a server that has a full copy of the SmartCash blockchain. The work of the SmartCash node is to perform tasks related to block validation SmartCash Nodes are paid for this service using a concept referred to as Proof of Service. This is almost similar to what miners do to secure the blockchain in Proof of Work consensus algorithms. Therefore, the more Smartnodes, the better and safer the Smartcash network remains.
Key Features of the SmartCash Coin
Some of the key features of SmartCash include:
- SmartHive: As reiterated before, SmartCash is highly community-driven. Therefore, taking inspiration from bees, everyone in the network contributes to the network. As long as you hold SMART, you have the ability to vote on proposals submitted by the community.
- SmartVoting: As stated before, SmartCash relies on the SmartHive structure where everyone contributes to the network. One SmartCash coin is worth 1 vote. It enables participants to send in proposals and suggestions that can be voted upon. Decisions range from budget spending to developments.
- SmartRewards: Smartrewards are easily recognized as incentives for SMART long-term holders. To become eligible for the Smartrewards, you need to have a maximum of 1,000 SMART in a wallet and not spend it for a period of 30 days. Rewards are collected every 25th day of every month. They are also equivalent to the amount of SMART that one has.
- Smart Privacy: Simply put, this is the process of renewing one’s SMART coins. Every SMART holder has the ability to destroy their existing coins and acquire new ones at a fee. The reasoning behind this; enhancing privacy. Once destroyed, coins cannot be traced in the blockchain.
- InstantPay: Unlike Bitcoin that’s plagued by transaction delays and high fees, Smartcash intends to make spending crypto an instant reality. This feature allows users to undertake online and instant point-of-sale in-store purchases.
Why is Swapzone the Best Place to Exchange SMART Coin?
Swapzone is the best SmartCash exchange in the market today. Not only does it provide you with the best deals, but it’s also absolutely free to use. So if you are looking for Smartcash cryptocurrency, you won’t be disappointed. It provides you with the best results from top crypto exchanges. Therefore, you only get to pick the SmartCash price that suits you.
Here you can find the step-by-step guidelines on how to exchange SMART on Swapzone:
- Open up the Swapzone website.
- Head on to the “Select Pair” tab and pick the type of crypto and amount you wish to exchange.
- In the “Get Up To” section, select SmartCash.
- Once you’ve entered the correct details in the respective tabs, you will see the different offers and exchange rates being offered by several different exchange platforms.
- At this point, simply go through the different offers sorting them out based on price and transaction times.
- Once you’ve locked in on an offer that you like, click on the offer and choose “Exchange.”
- The command will prompt you to add relevant wallet details. Proceed to enter them and then click on “Proceed to Exchange.” This will prompt the transaction to start.
- Wait for the exchange service to finalize your transaction and for the deposit to be processed.
- The transaction will be completed and SmartCash will be deposited into your wallet. At this point, rate the smart exchange crypto platform and leave an honest review. Viola! You are done.