Spacemesh Launches the People’s Coin
Spacemesh, a cryptocurrency project, is set to launch the People’s Coin on July 14th. The goal is to create a cryptocurrency that can be widely distributed, particularly among younger generations and underprivileged demographics. The team behind Spacemesh has spent over five years developing a new consensus mechanism called Proof of Space-Time (PoST), which is energy-efficient and has low operating costs. Instead of a blockchain, Spacemesh uses a Directed Acyclic Graph (DAG) structure. The protocol also ensures fairness for smaller home miners by rewarding them based on their storage commitment size. The barriers to entry for becoming a miner are low, with only a PC, GPU, and internet connection required. Spacemesh aims to create a more inclusive and equitable world by making crypto accessible to all.
Key Points:
- Spacemesh will launch the People’s Coin on July 14th to achieve widespread distribution of cryptocurrency.
- The project has developed a unique consensus mechanism called Proof of Space-Time (PoST).
- Instead of a blockchain, Spacemesh uses a Directed Acyclic Graph (DAG) structure.
- The protocol rewards smaller home miners based on their storage commitment size.
- Low barriers to entry make it easy for anyone with a PC, GPU, and internet connection to become a miner.
Hot Take:
Spacemesh’s launch of the People’s Coin represents a significant step towards creating a more inclusive and equitable cryptocurrency ecosystem. By using an energy-efficient consensus mechanism and removing barriers to entry, Spacemesh aims to empower individuals who have been excluded from the crypto revolution. This approach has the potential to foster improved cooperation on a global scale and contribute to a fairer future for everyone.
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