What are SmartNodes?
Lets explore this key feature of SmartNodes a little more in depth..
SmartNodes are servers that run a SmartCash wallet and make decisions, such as locking transactions with InstantPay.
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.
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- 100,000 Smart: Arguably the hardest part. Smart can be obtained from exchanges such as here.
- A computer for running a local wallet to start nodes and hold funds
- A VPS server installed Ubuntu for remote node running 24hrs/day with the following specs:
- 2GB RAM (about half used for OS and half for daemon)
- 20GB drive (less than 1GB used for wallet, some for OS, and some for future.)
- 1 Static IPV4 Address per node (IPV4 address that never changes) (No IPV6)
- A little time: Pick your time and follow this Setup Guide.
- SmartCash Hive Team is not officially involved in the provision of any of these services. Use it at your own risk.
- SmartNode shared hosting (less than 100,000 SMART) requires you to trust another party with your funds and is considered high risk.
- Hosted SmartNode services allow you to keep control of your private keys and you should not be asked for your private key. (SmartNode Genkey is not your private key and is required for hosting)
A list of currently available masternode hosting services is available below.