Question 1

What is SMART?

Accepted Answer

SMART is the native coin of the Smart Blockchain network. It is connected to the chain's freeze-based voting, Super Representative elections, block production, and the reward design described in the white paper. Therefore, it is not only a transferable on-chain unit, but also a measuring asset within the network participation mechanism. This does not mean that all SMART held in any wallet automatically generates rewards or qualifies for block production. Participating in network mechanisms requires the relevant steps, such as freezing, voting, or becoming a candidate; specific outcomes also depend on rankings and network rules.

Question 2

How does the SMART network reach consensus?

Accepted Answer

Smart Blockchain's white paper uses a Delegated Proof of Stake (DPoS) design: holders first freeze SMART to obtain voting rights, then use those voting rights to support candidate nodes; the 27 Super Representatives ranked highest by votes are responsible for producing blocks. In this chain of steps, freezing connects token holdings to voting eligibility, voting determines candidates' relative rankings, rankings determine who enters the Super Representative set, and Super Representatives then take on block-production duties. Therefore, holding tokens itself, voting, and producing blocks are consecutive but distinct roles.

Question 3

What is the practical purpose of freezing SMART?

Accepted Answer

The direct effect of freezing SMART is obtaining voting rights in order to participate in selecting Super Representatives. Voting affects candidates' vote counts and rankings, rather than allowing every freezer to take turns directly producing blocks. When the freeze is removed, the account no longer retains the corresponding voting rights, and votes that previously relied on those rights no longer apply to subsequent rounds. Thus, freezing and unfreezing change whether a user can use that portion of SMART to participate in representative elections.

Question 4

What are Super Representatives, and how do they obtain block-production eligibility?

Accepted Answer

Super Representatives (SRs) are candidate nodes that rank among the top 27 by votes and obtain eligibility to produce blocks. The network recounts candidate votes by round, and ranking changes affect which nodes subsequently take on block-production work. Super Representatives are not assigned block-production tasks one by one by token holders: token holders' votes first establish candidate rankings, and the system then selects 27 nodes based on those rankings. In this way, representatives' block-production eligibility comes from election results, rather than simply from the amount of SMART they hold themselves.

Question 5

How does SMART's reward mechanism work?

Accepted Answer

The white paper divides the reward design into two categories: rewards for voting candidates and rewards for Super Representatives that actually produce blocks. The two types of rewards serve different stages: candidate rewards are related to participation in elections, while Super Representative rewards are related to fulfilling block-production duties. The rewards described in the white paper are calculated in 6-hour rounds, and candidates' rankings and the voting weight they receive affect the results. It does not make “freezing means receiving a fixed return” an equivalent expression; whether and how voters receive distributions from candidates depends on candidates' arrangements rather than a fixed commitment in the white paper that is automatically made to every voter.

Question 6

What does a 6-hour reward round represent?

Accepted Answer

In the white paper, a “6-hour round” is the settlement period for reward calculations: during that period, the network processes the applicable candidate and Super Representative rewards according to candidate rankings and voting weights. It is not the arrival time for ordinary transfers, nor is it a rule that users receive a fixed reward after holding tokens for 6 hours. To understand an individual user's actual outcome, their role must also be distinguished: merely holding, freezing and voting, acting as a candidate, or acting as a Super Representative that ranks in the top 27 and produces blocks are different stages of the mechanism.

Question 7

Does the SMART network support smart contracts?

Accepted Answer

Smart Blockchain supports smart contracts, meaning that preset rules can be deployed as on-chain programs and executed by the network when invocation conditions are met. The white paper states that developers can write contracts using Solidity and deploy them to the network's virtual machine environment. Support for smart contracts indicates that the network can host such programs; it does not mean that a particular application has already launched, been audited, or been widely adopted. Whether it can be used also depends on the contract itself, its deployment status, and the network conditions required for invocation.

Question 8

How do voting changes affect Super Representatives?

Accepted Answer

The 27 Super Representatives in DPoS are not a permanently fixed list. Candidates need to obtain a high ranking through voting support created by freezing SMART; after the network recounts votes, candidates that fall out of the top 27 may lose eligibility for subsequent block production. Therefore, the practical effect of users' votes is to influence the relative ordering of representative elections; they cannot guarantee that a candidate they support will continue producing blocks, nor can they guarantee that a candidate or voter will receive a certain amount of rewards.

Question 9

Why does freezing SMART not mean guaranteed rewards?

Accepted Answer

Freezing, voting, and rewards need to be understood separately. Freezing creates voting rights; voting is used to influence candidate rankings; rewards are calculated in 6-hour rounds under the white paper's two mechanisms for candidates and block-producing Super Representatives, taking rankings and voting weights into account. Therefore, “freezing” cannot be directly described as “guaranteeing rewards.” Freezing is one prerequisite for participating in elections; whether a candidate enters the rankings, produces blocks, and distributes proceeds to supporters are different subsequent stages.

Question 10

How should the boundaries of the reward design in the white paper be understood?

Accepted Answer

The reward arrangement in the white paper is part of the network's economic design and describes the incentive relationship among candidates, Super Representatives, and voting weights. It can help explain why the mechanism encourages candidates to seek votes and prompts Super Representatives to undertake block-production duties. This design should not be directly treated as current circulating supply, actual annualized returns, current reward parameters, or statistics of rewards already received by users. Assessing these real-time facts requires on-chain or network-operation materials for the corresponding point in time; the white paper itself cannot replace that verification.

Question 11

What is the complete process of the SMART network participation mechanism?

Accepted Answer

The Smart Blockchain mechanism can be summarized as follows: users freeze SMART to obtain voting rights, votes establish candidate rankings, the top 27 become Super Representatives and produce blocks, and the white paper then designs candidate and Super Representative rewards in 6-hour rounds. Each step changes the conditions for the next: without freezing, there are no corresponding voting rights; without a sufficiently high ranking, there is no Super Representative eligibility; without block-production duties, a participant does not have the role to which Super Representative rewards apply.

Question 12

What problems do DPoS and smart contracts respectively address in the SMART network?

Accepted Answer

SMART's network role is primarily reflected in the DPoS election and smart-contract network environment. The former maintains consensus through freeze-based voting and Super Representative block production, while the latter provides an execution environment for deploying Solidity contracts. These two capabilities address different questions: DPoS specifies who participates in block production according to what election result, while smart contracts specify how application rules are executed on-chain. A network's support for contracts cannot be used to treat any token application or function as already deployed or adopted.

SMART (SMART) Price