What is Spacemesh (SMH)?
Blockchain Layer 1 with PoST consensus mechanism Unlike other blockchain platforms on the market that use two popular consensus mechanisms, PoW and PoS, Spacemesh has developed its own mechanism called PoST to solve the disadvantages of high costs and environmental impact. ...
What is Spacemesh?
Spacemesh is a layer 1 blockchain, using a self-developed consensus mechanism called Proof of Space Time (PoST) to solve the scalability, security and high cost problems of current blockchains.
Through the development of PoST, Spacemesh allows users to take advantage of unused memory on hard drives to participate in becoming miners of the network, by proving they only use capacity. That is for mining on Spacemesh for a certain period of time (about 2 weeks).
Spacemesh's PoST mechanism stands out thanks to its ability to reduce power consumption because it does not use computer computing power to verify transactions like Proof of Work (PoW) consensus mechanism and does not require financial amounts. assets must stake into the network as much as Proof of Stake (PoS).
Spacemesh was developed with the orientation of making blockchain technology accessible to new users more easily without encountering too many barriers in terms of scalability or high cost through some of the following highlights:
- High accessibility: Spacemesh allows new users without much capital to become miners of the platform to receive block rewards through the PoST mechanism while only requiring free storage space on their personal computers. core. This helps users save a lot of costs to become a miner compared to two popular consensus mechanisms today, PoW and PoS, but still earn stable profits over time.
- Block reward mechanism: PoST allows all miners of the network to receive block rewards if they participate in the transaction validation process. Block rewards on Spacemesh will be proportional to the amount of hard drive storage the user devotes to mining on the network.
- Environmentally friendly: Because it limits a large amount of energy consumption, the PoST mechanism helps Spacemesh become a blockchain platform that can reduce the negative effects that blockchain can cause on the environment (According to Cambridge University and the International Energy Agency, miners using the PoW mechanism to mine the Bitcoin cryptocurrency consumed energy equivalent to the amount of electricity and water used in the Netherlands in 2019).
What is Spacemesh token?
Spacemesh's token is SMH (utility token).
SMH Token Key Metrics Token Name:
- Spacemesh Ticker: SMH
- Blockchain: Updating…!
- Token Standard: Updating…!
- Contract: Updating…!
- Token type: Utility Total
- Supply: 2,400,000,000 SMH
SMH Token Allocation
According to the project, SMH tokens are allocated as follows:
- Mining: 93.75%
- Team: 6.25%
Schedule According to the project, the number of SMH tokens will begin to unlock after 1 year of mainnet and be released linearly within 3 years. Specifically, the number of SMH tokens issued within the first 200 years is as follows:
Users hold SMH tokens which can be used for the following purposes:
- Pay gas fees when trading
- Miner rewards for participating in the network.
Project team
Spacemesh was founded and developed by a team of members with many years of experience in different fields, including:
- Aviv Eyal: Co-founder
- Rami Kasterstein: Co-founder
- Tomer Afek: CEO, Co-founder
Some projects similar to Spacemesh include:
- Filecoin: A decentralized reserve network, designed to store important user information. In Filecoin, miners are rewarded for providing storage, not for performing wasteful calculations.
- Arweave: Is a layer 1 blockchain platform developed based on the new generation Proof of Access consensus algorithm to create the first truly permanent data storage.
