What is Spacemesh?

What is spacemesh?
Spacemesh is a programmable cryptocurrency open-source platform powered by a novel proof-of-space-time (PoST) consensus protocol. Spacemesh does not use proof-of-stake or proof-of-work (PoW) protocols, thus it avoids some of their inherent issues, such as massive energy waste, mining pooling and centralization.

What is Spacemesh trying to achieve?

Spacemesh is designed to achieve three main objectives:

  1. Create and maintain the ledger for the Smesh. Smesh is a fair, a-political cryptocurrency that will become a global means of payment.
  2. Ensure fair distribution of Smesh.
  3. Establish a global programmable infrastructure for tokenized apps, communities and economies.

What problems does Spacemesh plan to solve and how?

  1. Mining cryptocurrency today can only be done by a select few.
    We aim to create a world in which any interested party can mine Spacemesh cryptocurrency, which will naturally be followed by a fair distribution of the currency (i.e., The People's Currency ).

  2. Energy consumption due to PoW chains is skyrocketing.
    Spacemesh has improved upon PoW by creating a consensus protocol that consumes significantly less energy (i.e., A Better Bitcoin ).

  3. Lack of satisfactory smart contracts infrastructure for creation of fair communities and decentralized financial services.
    We plan to add a modern smart contracts virtual machine, called Spacemesh virtual machine (SVM), a new modern smart contracts language (Smesh) and dev tools designed for developers to build applications on the Spacemesh platform.

What makes Spacemesh Unique?
A mesh topology combined with a novel consensus PoST protocol that allows anyone to join the decentralized Spacemesh blockchain computer without requiring permission, simply by committing some free hard-drive space.

Spacemesh software is designed to run on real people’s home PCs and not on dedicated cloud servers or specialized non-commodity hardware. A consensus on a distributed canonical ledger is formed by a protocol running on home PCs anywhere across the globe. The system remains secure as long as more than 2/3 majority of disk space committed to Spacemesh is by honest participants.

To learn more about Spacemesh, read the posts and FAQ on https://spacemesh.io.

To learn more about Spacemesh unique blockmesh technology, browse the Spacemesh protocol explainer

To deep-dive into the technical details of the Spacemesh protocol, read the Spacemesh Protocol paper.