Spacemesh Spacemesh

Overview of Spacemesh

Spacemesh is a decentralized blockchain platform designed to facilitate a fairer and more inclusive crypto economy. It utilizes a novel consensus mechanism called Proof-of-Space-Time (PoST), which allows users with everyday computer hardware to participate in the network without the need for significant energy consumption, unlike traditional Proof-of-Work systems. Spacemesh aims to create a scalable and secure blockchain that supports global transactions without fees, making it an attractive option for developers and users looking for an alternative to more centralized and resource-heavy blockchains.

Pros and Cons

What Makes Spacemesh Unique？

Two key features set Spacemesh apart from other blockchain platforms:

1. Proof-of-Space-Time (PoST): This is Spacemesh's unique consensus mechanism. Unlike Proof-of-Work (PoW) which relies on computational power, or Proof-of-Stake (PoS) which uses coin ownership, PoST leverages free disk space.

This makes Spacemesh significantly more energy-efficient than PoW and avoids the centralization risks associated with PoS where large stakeholders hold more sway.

2. Mesh Topology: Instead of a linear chain of blocks, Spacemesh utilizes a mesh structure. This allows for parallel processing of transactions, potentially leading to much higher scalability compared to traditional blockchains. Imagine a web of interconnected blocks instead of a single line.

How does Spacemesh Work？

How to Store Spacemesh？

There are two main approaches to storing Spacemesh (SMH) tokens, each with its own advantages and security considerations:

1. Custodial Wallets (Exchange Wallets):

Convenience: This is the simplest option. When you buy SMH on a Centralized Exchange (CEX), the tokens are automatically stored in a wallet managed by the exchange.

Security: The security of your SMH depends on the exchange's security practices. Reputable CEXs implement robust security measures, but there's always a risk of exchange hacks.

2. Non-Custodial Wallets (Self-Custody):

Control: You have complete control over your private keys with a non-custodial wallet. This is generally considered the most secure option.

Responsibility: You are responsible for the safekeeping of your private keys. Losing them means losing access to your SMH.

Is It Safe？

The security of Spacemesh itself is based on a promising concept:

Proof-of-Space-Time (PoST): This makes it theoretically more secure than Proof-of-Work (PoW) which relies on computational power (vulnerable to attacks with lots of computing resources) and avoids the centralization risks of Proof-of-Stake (PoS) where large coin ownership grants more sway.