The crypto-universe is gaining a lot of interest at the moment. People all over the world are starting to understand the promise of a completely trustless financial system; although that isn’t the only reason people are starting to pay attention. Almost nothing in the known investing community can promise similar return on investment to what even an inexperienced investor can achieve in crypto; Bitcoin alone has risen almost 400% YTD. Just stop and think about that for a moment… 400%, that is truly ridiculous!
These ‘gains’ have brought droves of people flocking to the crypto-universe with money to invest in concepts they barely understand. Naturally, as a free-market will, some people are taking advantage of this with cheap scams; whitepapers quickly thrown together with a flashy website can generate millions. Investors driven by the missed opportunity of investing early in Bitcoin desperately search the coins with low market caps looking for a sleeping giant.
Currently, there is almost no accountability and traceability in this market, consequently people get burned left and right. In fact, a close friend of mine still laments how he was scammed out of, at today’s price, $1million worth of Bitcoin. We are living and experiencing the financial version of the Wild West. However, the crypto-universe will only grow and reach its’ potential if we, as the patrons of a new-age, can eradicate this cut-throat attitude.
Which is why I would like to introduce you to SmartCash. A low market cap coin with genuine potential. Since my entry point it has moved from the mid-200s to the mid-100s on www.coinmarketcap.com, and there isn’t any reason for it to stop now (in fact, as I am editing this before posting it is now in the low-100s!). I’m invested in SmartCash so I would benefit from exaggerating the benefits and potential of the coin; however, in the interest of bettering the zeitgeist of the crypto-universe, this whole article is based on fact, reasoning and logic. If after reading you are interested in investing in SmartCash, it will be through the genuine discovery of a sleeping giant, not because I’ve used fancy words, vague terms, and glitz.
So what is SmartCash exactly? In simple terms, it’s a coin that focuses on being a merchant-oriented, easy-to- use cryptocurrency with an emphasis on decentralized governance and privacy. This is key to its’ potential success, a lot of privacy-centric coins recently have seen huge growth (Monero & PIVX for example) and it isn’t a coincidence. Nobody wants people to be able to view the amount of money they have in their account. It’s a touchy subject with fiat, why should crypto be any different? Furthermore, a decentralized governance system may seem like a rather ideological, almost unnecessary construct, butjust look at Bitcoin; a lot of the current issues can arguably be attributed to the slow centralization of governing power. Finally, one of the best aspects of SmartCash is that it is a community driven project. That means that the coin will utilize growth strategies that involve using the block reward to grow the community and developer team, amongst other methods – SmartRewards are just an example of that.
Unlike Bitcoin, Smartcash aims to be the small payments crypto. The ideology is that you can buy your skinny latte with Bitcoin, but the reality? The reality is far from that. However, with a block reward of 5000 SMART per block, with gradual reduction, plus a block-time of only 55 seconds, the new reality is that SmartCash would be perfect for buying your morning coffee; or any other small, consumer purchases you make. Importantly, a 55 second block-time means that there is no question of needing to wait around whilst the transaction confirms, send it when you order, and in the time it takes your barista to do that cool milk art, your payment will have been processed!
The project uses the Keccak algorithm, which means mining will be profitable for the foreseeable future. Why? Quite simply no ASICS for the Keccak have been produced yet; furthermore, none are in known production! This is a huge advantage for those who want to mine, and an advantage for those wanting to use the coin; sustainable mining profits should mean low transaction fees and a safer network. Another advantage of the Keccak algorithm is that its’ heritage lies in an approach called ‘sponge construction’ which allows for any coin implementing it to have greater flexibility. As much as I love Bitcoin, much of its’ recent ‘difficulties’ can arguably be accredited to a lack of flexibility, can it not?
As I briefly mentioned earlier SmartCash also has a component known as SmartRewards. Once a month a screenshot is taken of the blockchain, any address holding more than 1,000 SMART is added to a rewards list. Then, assuming that those addresses don’t transfer any money out of the address, each address is eligible for a reward paid out of that month’s mining rewards; I believe last month’s reward was over 30% of the amount held in the address. I’ll be honest, at first, I was highly skeptical about this; free money is never really free, right? Although once I considered the economic logic behind SmartRewards I was shocked by how much sense it makes. Sure, giving people free money could cause them to sell and push the price down, but in reality, if you get penalized for transferring money out of your address you ain’t gonna do it!
The idea here then, is that each user will have 2 wallets. An everyday spending wallet, and a monthly SmartRewards wallet. The money tied up in the SmartRewards wallet causes price stability of the coin, whilst the everyday wallet will allow users to spend money as they usually would. In this sense SmartRewards can be compared to most Proof of Stake networks; however, SmartCash has one huge benefit in its’ favour. The wallet does not need to stay connected to the network as it is not used for network security! I really can’t stress how great this is. I’m of the demographic that does not own a proper computer; I move around far too much to warrant carrying something that big. Instead I have a laptop, which of course I can’t leave connected to a coins’ network 24/7.
Now let’s take a look at the competitors to SmartCash. Not only does it aim to be used for payment, but it also utilizes a Proof of Work approach like Bitcoin. Which, for all of us eco-warriors out there is a slight negative; personally, I much prefer Proof of Stake coins simply because they are less resource intensive. However, let’s be honest, there is very little evidence to definitively state that one approach is far better than the other. Other close competitors include both PIVX and Monero. SmartCash is based on the ZeroCoin protocol which allows it to be a privacy-focused, everyday coin; PIVX for one has recently implemented this approach through zPiv. Monero adopts a slightly different approach to privacy through using ring signatures. Nobody knows which anon-coin will win, but for now I’m a big fan of PIVX so it will be interesting to see how SmartCash can compete with this, but personally, I’m feeling very confident!
One of the main reasons for this confidence is based purely on the stage of development for SmartCash. No matter what system you are using there is a clean, easy to use wallet to store your coins. This isn’t always the case for coins with smaller market caps, so I’m putting this as a huge point in the projects’ favour; the developer team seems entirely committed to the job at hand. On top of this, the few interactions I’ve had with them (troubleshooting with the Linux wallet on a Chromebook) the team were incredibly patient and surprisingly nice people! Previously, I’ve been on Slack channels with developers that have completely turned me away from their project with their attitude; I don’t see that being a problem for any potential SMART users.
There is a load of cryptos out there right now, and for each one you will find someone who is singing its’ praises so take any analysis you read with a pinch of salt; including mine! Although, in reality, at least one of these small market cap coins is going to make it big, it’s the law of averages, right? So why not SmartCash? It definitely has the technology, developers, community, and use-case to do it, all it needs now are adoption and a bit of luck. I got into Ethereum fairly early (<$10) I had only just entered the crypto-universe but straight away I could see the potential. I believe I’m now seeing the same potential here in SmartCash.
Even if you are not so sure, with the current price of <$0.05, can you afford not to take the risk? At the very least pick up 1000 and leave it in a wallet collecting SmartRewards for a few months. It’s almost stupid not to.
If your interest has been piqued after this brief introduction to SmartCash then click through and follow me. I’ll be analyzing SmartCash using the investment tool the Cryptfolio Matrix very soon, so keep your eyes peeled for that! Otherwise, if you’re an existing SmartCash holder and feel like sharing the love here’s my address.
SMART: Se3TTsZst2xxFKQdZMWdUMn3hDyjLPqAqy
I’ll always appreciate a tip! So until next time, bye, I guess
If you would like to learn more about SmartCash please visit https://www.SmartCash.cc