What is Spacemesh? Spacemesh is a blockchain that uses the Proof of Space Time mechanism by taking advantage of excess capacity on SSD or HDD hard drives to receive Block Rewards. So what’s special about Spacemesh? Let’s find out with HAK Research in this article.
To better understand what Spacemesh is, people can refer to some of the articles below:
- What is Proof Of Work (POW)? Advantages, Disadvantages and Core Operating Mechanism of Bitcoin
- What is Bitcoin? All About Bitcoin
Spacemesh Overview
What is Spacemesh?
Spacemesh is a blockchain that uses Proof of Space Time (PoST) mechanism by taking advantage of excess capacity on SSD or HDD hard drives to receive Block Rewards. This mechanism is considered by the project team to be more effective than Proof of Work and Proof of Stake. The drawback of PoW is that it consumes too much energy, leading to extremely high CO2 emissions, while PoS requires Nodes or Validators to mortgage extremely high amounts of assets.
What is Spacemesh?
Mechanism of action of Spacemesh
Proof of Space Time will retain the useful properties of PoW but deliver significantly low energy emissions. This mechanism is a combination of Proof of Space and Proof of Time. In PoST there are two hash puzzles called WinningPoSt and WindowPoSt that are issued to test any blockchain user participating in the network.
Miners can only resolve and calculate data accurately using these two hashes for a certain period of time. That is nothing more than an SSD or HDD hard drive.
WinningPoSt randomly selects a Miner expected to mine the next Block, queries them for a copy of the blockchain data, and expects the answer to be returned within a short time frame. The short time frame given for responses ensures Miners maintain a copy of the data.
That moment, WindowPoSt ensures a persistent copy of data by continuously requesting data at specific intervals. This is important, because quickly sealing a copy of the data every time it is queried costs significantly more space.
For a Hash to be completed, simply understand that WinningPoSt is responsible for selecting Miner to mine the next Block, on the other hand WindowPoSt continuously verifies data ensuring that each Block is consistent in time.
Difference of What is Spacemesh?
With a vision and mission that will make Blockchain accessible to many users around the world, as well as minimize the harmful effects of cryptocurrency on the environment. Spacemesh has a few notable points such as:
- Money as a Map: Spacemesh serves as iconic representations, communication tools, trust-based systems, simplification tools, and evolving entities shaped by technological advances. Create an economy of value.
- Overcoming the Crypto Bubble: To do that, it needs to not be owned by an organization like Bitcoin. Spacemesh is completely decentralized. Most of the SHMs present on the market come from Block Rewards for miners.
- Race Free: An important feature of Spacemesh reduces the dependence on the high computing power of expensive miners. The only thing that needs to be done to exploit the user is to increase the hard drive capacity.
- Technology is accessible and accessible: The Spacemesh protocol runs using free storage space on your computer (Hard Drive) and can be instantiated with any popular GPU from the past few years. So, anyone with a modern PC with average specifications can become part of the network and earn SHM.
- Designed specifically for retail miners: In fact, small home-based miners have an advantage over the big whales because they don’t have to pay any major management or maintenance costs. Home-based miners can expect small but consistent rewards, as fair compensation for their contribution to the network.
- No risk: Spacemesh accessible and low barrier. If you already have the necessary hardware and free hard drive space to get started, you won’t lose much (at most some electricity costs incurred to keep your PC running) and will gain a lot. things.
Spacemesh Mining
To be able to exploit SHM and run a Node on the network. Users need to have a PC that meets at least the following requirements:
- CPU must be Intel or AMD x86-64 or ARM 64-bit, including Apple Silicon (but not Raspberry Pi) with 1GB or more memory.
- The operating system must be Windows 10/11, MacOS, Ubuntu 22.04 or later, or Fedora 36 or later.
- The hard drive must have 50 GB of free space.
- The PC is always connected to the Internet, with a minimum bandwidth limit of Download 5mbps and Upload 1 mbps or more.
- Hard drive capacity should be at least 306 GB or more. Additionally, sequential read speeds of at least 100 MB/s can be maintained.
- CPU support for AES-NI (multi-core CPU)
- Any GPU with OpenCL support.
Once you have complete equipment that meets the above requirements, everyone can refer to the setup steps through the How to mining image or from the video that the project team instructs:
- 1. Installation
- 2. Wallet setup
- 3. options and features
- 4. Proof of Space & Smeshing Setup
Development Roadmap
Updating…
Core Team
The team behind developing Spacemesh is a software development company with less than 50 employees. However, they only built Spacemesh with the criteria that this is a community project, Open Source, no central administration and no business model. Leading the project is Co-founder & CEO: Tomer Afek
- He holds a bachelor’s degree in computer science from Tel Aviv University.
- He used to be director of Marketing Channels at Sanctum. Pioneer and leader in automated Web application security firewalls and testing software.
- Besides, during the period from 2003 – 2007, he held the position of investment director of Evergreen. This is the company Israel’s first venture capital investment. The $700 million venture capital fund has currently invested in more than 120 different technology companies.
- Then from 2009 – 2011, worked as CEO for New York-based ConvertMedia, an online advertising company.
- By 2012, he was Co-founder & CMO of SHOWBOX, transforming leading brands and publishers into digital video powerhouses.
- From 2017 until now, he has been Co-Founder and CEO of Spacemesh, actively supporting the growing network.
Investor
Spacemesh has no investors.
Tokenomics
Basic information about SMH token
- Token name: Spacemesh
- Ticker: SMH
- Blockchain: Spacemesh
- Standard: Native token
- Total Supply: 2,400,000,000 SMH
Token Allocation
The total supply of SMH will be distributed as follows:
- Team: 6.25 %
- Mining (Block Reward): 93.75 %
Token Release
Team’s SMH number will begin to be unlocked after 1 year of mainnet. And released linearly within 3 years. The remaining number of mined coins will gradually decrease over time. As follows:
Within the first 5 years
After 5 years onwards, the number of SMH to exploit will become more and more difficult. And by the 277th year Block Reward drops below 1 SMH.
Token Use Cases
- Pay transaction gas fee.
- Miners are rewarded for participating in transaction validation and network security.
Exchanges
Currently, SMH is only present at the trading floor: SafeTrade
Spacemesh Information Channel
- Website: https://spacemesh.io/
- Twitter: https://twitter.com/teamspacemesh
- Discord:
Summary
Above is some general information about Spacemesh. Hopefully through this article, people can better understand how it operates. This is a mining coin that uses hard drives at a low cost. We can take advantage of our PC if the hard drive has a lot of free data, or we can build our own PC rig to exploit and earn a little more economic reward in the first 5 years. Currently, SMH only lists one obscure exchange. The future may see more quality exchanges listed. Opens up many new opportunities for this coin.
