Smartcash: What Is It and How to Mine It?

BlockchainWorldEvents
10 May 2018

With the emergence of new cryptocurrencies, it is interesting to investigate other digital coins apart from Bitcoin. For example, SmartCash is becoming a popular digital currency with a reliable concept and a promising future. Let’s look into what is it and how to get some!

What is Smartcash?

SmartCash is a digital currency created by the same-name company. The coin is relatively new: it was released in July 2017 and by May 2018, the total supply is more than 1,5 billion. SmartCash is driven by the community. It powers and governs it which means that funds are focused on community projects and aims.

Why investing in Smartcash?

SmartCash looks promising: it is user friendly, supported by a decentralized helpful community.

The company which has launched this cryptocurrency has a SmartHive team which is responsible for making sure the coin grows ad develops, while stabilization of the price is ensured by the special SmartRewards mechanism. The mechanism watches SmartCash wallets which hold more than 1000 coins and pays them for each holding period which equals 30 days.

What is attracting investors a lot in SMART is that the community takes the first place which helps to avoid community dispute issues. With the highest priority put on the platform and its community rather than just on making money, SmartCash’ self-organization model may bring the great future for the coin.

Overall, the coin appears to be worth investing into, and worth trying to mine. Here is how you can do it.

How to mine Smartcash?

Currently, you can mine SmartCash only using your own SmartCash wallet with SGMiner. Let’s look at the process:

1. Download SmartCash wallet

You can download the wallet from the link (https://smartcash.cc/get-smartcash/) and then make it run.

2. Download the SGminer

It is important to download the version which will enable you to mine SmartCash. In the miner you should change a couple of things. In the folder, you will find the "start.bat" file, where you should edit a one-line code, so it looks like this:

Smartcash: What Is It and How to Mine It?

Next to the -u and -p, type in your username and your password. Then save, and let’s move on.

3. Make it work!

Now follow some simple steps:

go to the path with your GPU miner and copy sgminer-xmr.conf file;
paste it into C:\Users\TYPE IN YOUR COMPUTER USERNAME\AppData\Roaming\smartcash path;
open the file with notepad (make sure the tickbox is unselected);
delete everything in it and add the following lines:

server=1

daemon=1

rpcuser=TYPE IN YOUR USERNAME FROM SGMINER SETUP

rpcpassword=TYPE IN YOUR PASSWORD FROM SGMINER SETUP

rpcallowip=127.0.0.1

rpcport=9679

keypool=10000

save the changes and rename the file to smartcash.conf;
download curl https://sourceforge.net/projects/curlforwindows/files/?source=navbar and extract the files;
exit the wallet.

4. Mine!

launch the wallet;
go to curl directory and run the curl application;
run "start.bat";

Congratulations, you are mining! You will get your first block processed (250 SMART) after around 1-3 hours. Every block appears in your wallet and then get confirmed by the network.