Smartcash Wallet ($SMART)
Securely store, send, receive and exchange your Smartcash with Coinomi!
Smartcash is a cryptocurrency focused on community governance and cooperation.
Their three pillars are the Smarthive, Smartreward and Instantpay. Smarthive is their governance mechanism. 70% of the block rewards go to the SmartHive community proposal and Hive Teams, comprised of multiple global developer teams. Holders can vote on community proposals without paying SMART. If the proposal is accepted, it gets funded by the community hive budget, a treasury with 46% of SMART funds allocated to it. Smartrewards encourage long-term holding and provide stability to the currency. Any wallet containing >=1000 SMART for one month and that haven't performed any outgoing transaction in the past month is eligible for the SmartReward every 47500 blocks. Instantpay allows for instant transactions that are executed by the SmartNodes. To host a master node in Smartcash, 10,000 SMART are required to be locked.
Mining is ASIC-resistant and uses the Keccak mining algorithm. Miners receive 5% of the block reward, while SmartNodes receive 10%.