Main Project FAQ
Please check the main FAQ on our site: https://spacemesh.io/faq/
What is Spacemesh?
Spacemesh is a 3rd-gen decentralized blockchain computer designed to execute transactions and run smart contracts at scale with low transaction fees. It is designed to create a highly-decentralized p2p blockchain computer formed by individuals from around the globe running Spacemesh on their desktop PCs at home. It is powered by a novel consensus protocol that is secure, proof of work free and highly incentive-compatible.
Spacemesh is a free, open source distributed operating system software designed to create this new kind of global computer. The first implementation of SpacemeshOS is being built using the go programming language.
What is the Spacemesh vision?
To create a fair cryptocurrency that will become a global means of payment and a fair global infrastructure for tokenized apps, communities and economies.
What is the main motivation behind the project?
To create a decentralized blockchain smart contracts computer and a cryptocurrency that is formed by connecting the home PCs of people from around the world into one virtual computer without incurring massive energy waste and mining pools issues that are inherent in other blockchain computers, and provide a provably-secure and incentive-compatible smart contracts execution environment. Spacemesh OS is designed to be ASIC-resistant and in a way that doesn’t give an unfair advantage to rich parties who can afford setting up dedicated computers on the network. This is achieved by using a novel consensus protocol and by optimizing the software to be most effectively used on home PCs that are also used for interactive apps.
What is it good for?
Provide dapp and app developers with a robust way to add value exchange and value related features to their apps at scale. Our goal is to create a truly decentralized cryptocurrency that fulfills the original vision behind Bitcoin to become a secure trust-free store of value as well as a transactional currency with extremely low transaction fees.
How is Spacemesh different from Bitcoin?
Spacemesh uses a consensus protocol that is substantially different than Bitcoin. In Spacemesh, all honest validators get mining awards in a cooperative race-free manner and don’t need to run power hungry custom hardware to participate. The Spacemesh protocol is designed to make mining pools and dedicated custom ASIC unnecessary and unprofitable to use. In addition, Spacemesh is designed to run smart contracts at scale and not just become a store of value for a new cryptocurrency. Learn more about the Spacemesh consensus protocol.
How is Spacemesh different from Ethereum?
The Spacemesh consensus protocol is considerably different than Ethereum and doesn’t rely on energy wasteful proof of work. Ethereum may move to a proof of stake based consensus. The Spacemesh protocol is designed to solve some of the hard problems in proof of stake systems such as centralization and costless simulation issues. The Spacemesh protocol is also designed to make virtual mining pools unnecessary and unprofitable to validators.
Does the world need yet another decentralized computer and cryptocurrency?
Yes! we strongly believe that we can build a better decentralized computer using learnings from the issues that have surfaced over years of using of older existing protocols and networks.
How secure is Spacemesh?
Security is one of the top project priorities. We are going to provide full security, safety, liveness and incentive compatibility proofs for all of our protocols. We are also going to have a security bounty program with substantial awards for reporting vulnerabilities.
How does Spacemesh different form new proof-of-stake blockchain projects?
We avoid the open issues of proof of stake class of protocols by relying on proof of space time and proof of sequential work protocols.
Who should get involved?
At this stage, we are mainly looking for software developers who’d like to collaborate or contribute to the project and in the near future run a full node on their home desktop PC on our testnet. We are building the first version of Spacemesh in the Go programming language.
Why should you join the project?
Short answer: To work on stuff that matters because YOLO. Longer answer: to help us create a free robust decentralized computer that will make the world more decentralized sooner.
Why should you install and run Spacemesh?
Because by installing and running Spacemesh you contribute a portion of your PC storage, CPU and networking capacity to a virtual p2p network, made by other people like you, that provides security and transaction processing in a trustless and permissionless settings.
What is Spacemesh coin?
Spacemesh coin (or SMC, pronounced smech) is the underlying coin empowering the Spacemesh public network and decentralized computer. It is used for transactions, smart contracts, and validation awards.
How do I earn Spacemesh coins?
You become a Spacemesh validator by running a Spacemesh node on your home desktop PC.
Do I need a dedicated computer to run Spacemesh at home?
No. Spacemesh is designed to run on your standard home desktop PC in the background while it is idle or while you are using it interactively. It supports Windows, Linux and OS X operating systems. Spacemesh automatically scales down its disk, cpu and network usage while you are interacting with your computer and scales up when it is idle.
How do I join the Spacemesh network and start earning Spacemesh Coin validation awards?
You install the official release of the free Spacemesh node from our Github repository or build and run Spacemesh directly from source code.
What are the technical requirements for running Spacemesh?
You need an Internet connected desktop PC running Linux, OS X or Windows with 350GB of disk space (SSD storage is NOT required), a modern Intel or AMD x64 CPU, a modern gaming class graphics GPU, at least 8GB RAM system memory and a constant-on Internet connection. You will also need to make your Spacemesh node routable on one TPC/IP port from the Internet as our p2p networking stuck do not fully support non-routable nodes yet.
What happens after I install Spacemesh?
To participate in the network, your node must go through an initial setup phase, in which it generates private data used in the proof of space time consensus protocol. After this one time setup phase, which runs in the background, your node does not constantly perform any CPU or GPU and energy expensive hash puzzles computations and you start getting validation awards for blocks you submit to the network as part of the protocol.
Is Spacemesh open source and what is the license?
Yes, all Spacemesh software is 100% free open source licensed under the permissive MIT and Apache open source licenses.
Who is building Spacemesh?
A team of blockchain enthusiasts from around the world and a dedicated core development team with members who allocate their waking state brain cycles to the project.
How do I get in touch with the development team?
We hang out on https://gitter.im/spacemesh-os/Lobby - come by, introduce yourself and ask any questions you may have on the project.