Spacemesh is a layer 1 blockchain that uses a new consensus mechanism called Proof of Space Time (PoST) with several advantages over PoW and PoS. So what makes Spacemesh special? Let’s find out in this CoinNerd article below.
What Is Spacemesh?
Spacemesh is a layer 1 blockchain that uses a novel consensus mechanism called Proof of Space Time (PoST), which allows users to participate in the network by leveraging their unused storage capacity. This makes Spacemesh more energy-efficient, fair, and user-friendly, making it suitable for small-scale miners.
Characteristics Of Dapps
Spacemesh’s Proof of Space Time consensus mechanism involves participants contributing disk space over time. Miners validate reserved storage space solely for Spacemesh mining, maintaining it unused for other purposes.
This mechanism operates more efficiently compared to prevalent consensus methods like Proof of Work (PoW) and Proof of Stake (PoS). It avoids excessive hardware consumption typical of PoW and doesn’t necessitate staking large asset amounts akin to PoS validators.
The Key Features Of Spacemesh
Does Not Require High-end Hardware.
Spacemesh operates by using unused storage space on users’ personal computers and can be initialized with any popular GPU available today. Therefore, anyone with a mid-range computer configuration can also participate in the network.
Suitable For Small-scale Miners
Spacemesh is a suitable choice for small-scale miners because it offers small but stable block rewards over a long period of time, and they do not have to bear the burden of large management or maintenance costs.
Development Team
Spacemesh was founded and developed by a small software company, led by three members:
- Aviv Eyal (Co-founder)
- Rami Kasterstein (Co-founder)
- Tomer Afek (CEO, Co-founder)
Tokenomics
Token Metric
| Token name | Spacemesh |
| Symbol | SMH |
| Blockchain | Spacemesh |
| Contract | Updating… |
| Total supply. | 2.400.000.000 SMH |
SMH Tokens Are Allocated & Issued As Follows:
- Initial investors and development team – 6.25%: Locked for 1 year from TGE, then gradually released within 3 years.
- Smeshers (Spacemesh miners) – 94.75%: Mining rewards decrease over time and can continue for up to 200 years.
Token Use Case
SMH tokens are used for the following:
- Transaction fees.
- Rewards for miners
Summery
Through this overview article on the Spacemesh project, Coin68 hopes that readers will be able to grasp the basic information about this project in order to make their own investment decisions. We wish you success in your investment!
Disclaimer: The information in this article is not intended as investment advice, and CoinNerd is not responsible for any investment decisions you make. We wish you success and hope you can earn a lot of profit from this promising market.
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* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.
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