SmartNodes are servers that run a SmartCash wallet and make decisions, such as locking transactions with InstantPay. SmartNodes are required to have 10,000 SMART collateral, a dedicated VPS (IPv4 address, 1GB RAM, 20GB drive) and be able to run 24 hours a day without a more than two hour of connection loss. SmartNodes are paid at a rate of 10 nodes every other block, which means a payout will be 2% of the Block Reward for every Node.
SmartNodes enable the following services:
- InstantPay (Instant Transactions): Allows for SmartCash transactions to be locked in about a second. No risk of double spending a transaction, so the receiver can trust that transaction immediately.
- SmartRewards: SmartRewards are calculated by the SmartNodes to allow for distribution to be handled automatically by the block rewards.