What is Spacemesh? Blockchain L1 Proof of Space & Time (PoST)

Bittime - Spacemesh is an innovative L1 (layer-1) blockchain that utilizes Proof of Space & Time (PoST) as its consensus mechanism. The following is a complete explanation.

What is Spacemesh?

Spacemesh is an innovative decentralized crypto asset platform, with the vision of becoming the people's asset.

Powered by layer-1 Proof of Space Time (PoST) protocol, Spacemesh offers an accessible and user-friendly solution.

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Early Start of Spacemesh

Spacemesh was founded by Aviv Eyal and Tomer Afek with an ambitious vision of building a decentralized, secure, and scalable crypto asset and smart contract platform in 2017.

This platform is designed to overcome various obstacles faced by first and second generation blockchain networks.

Spacemesh & Protokol Proof of Space-Time (PoST)

Spacemesh relies on the innovative Proof of Space-Time (PoST) protocol. This protocol allows anyone with free space on their hard drive to participate in the network.

The unique mesh structure limits incentives for selfish miner behavior and encourages robust decentralization.

Also Read How To Buy Crypto: How to Buy BTC

How Does Spacemesh Work?

1. Proof of Space-Time (PoST)

In contrast to energy-intensive Proof of Work (PoW), Spacemesh uses PoST where miners allocate their disk space to the network.

This disk space is used to store cryptographic evidence, secure the network and validate transactions.

This mechanism allows wider participation, including home users, as it does not require powerful mining hardware.

2. Energy Efficiency

PoST eliminates the need for intensive computing races like PoW, making Spacemesh much more energy efficient.

This makes Spacemesh an environmentally friendly and sustainable choice for the future of blockchain.

3. Proses Smeshing

To start smeshing, users need to install Spacemesh software on their computer.

Allocate the disk space you want to dedicate to networking.

Keep in mind that this initial phase of setup will make heavy use of the GPU to fill the allocated disk space.

Once complete, your computer will continue to contribute to the Spacemesh network, securing transactions and earning rewards in the form of SMH coins.

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Tokenocims Spacemesh (SMH)

The platform's native asset is the Spacemesh coin (SMH). The Spacemesh team believes that the platform's greatest value lies in its commitment to protocol fairness, product development with low barriers to entry, sustainable transaction fees, and strong decentralization.

Spacemesh Raises Significant Seed and Series A Funding

SpaceMesh, a next-generation blockchain protocol focused on scalability and decentralization, has raised significant seed and Series A funding.

In May 2018, they pocketed $3 million from well-known investors such as BRM Group, iAngels, Alignment, and Bancor. This funding allows SpaceMesh to continue development of the platform and expand its team.

• Total funding: $18 million
• Initial funding: $3 million (May 2018)

For Investor Spacemesh

Just a few months later, in September 2018, SpaceMesh raised another, $15 million, Series A round.

The round was led by Polychain Capital, a leading blockchain investment firm, and joined by other well-known investors, including MetaStable, Paradigm, Coinbase Ventures, Bain Capital, 1kx, Arrington XRP Capital, Danhua Capital, Gumi Crypto, Electric Capital, Collaborative Fund, and Jack Herrick.

Series A Funding: $15 million (September 2018)

Notable investors: Polychain Capital, BRM Group, iAngels, Alignment, Bancor, MetaStable, Paradigm, Coinbase Ventures, Bain Capital, 1kx, Arrington XRP Capital, Danhua Capital, Gumi Crypto, Electric Capital, Collaborative Fund, dan Jack Herrick

Conclusion

Spacemesh brings an innovative solution to the blockchain world by offering an easy-to-use app, complete with tutorials and reward guides.

The platform challenges the status quo and encourages open exploration of ideas, paving the way for an inclusive and collaborative blockchain future.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

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