Spacemesh (SMH)

Spacemesh (SMH) is a Layer 1 blockchain built on a Proof of Space-Time (PoST) consensus protocol, launched on mainnet in July 2023. Founded by Aviv Eyal and Tomer Afek, the project is headquartered in Israel and aims to make permissionless participation in a decentralized network accessible to ordinary hardware owners. Instead of requiring specialized mining rigs, Spacemesh allows anyone with spare hard drive storage to contribute to network security and earn SMH rewards, making it one of the few Layer 1 networks oriented around home miners rather than data centers.

The PoST protocol works by committing disk space over time, creating a verifiable record that a miner has dedicated storage to the network across a given period. This design is intentionally energy-efficient: hard drives consume a fraction of the electricity used by GPU or ASIC mining setups. The network uses a mesh-based ledger structure (a directed acyclic graph rather than a single chain) to improve throughput and reduce the risk of forks. Participants run Smeshers, nodes that hold committed storage and produce blocks, while the SMAPP desktop application provides a user-friendly interface for managing a node, monitoring rewards, and tracking network health.

SMH has a fixed maximum supply of 2.4 billion coins distributed through a predetermined emission schedule, with no pre-mine or venture allocation directed to founders at launch. The circulating supply grows as Smeshing rewards are paid out. The project is fully open-source under active development on GitHub, with a community dashboard showing live metrics including active Smeshers, total transactions, and cumulative rewards. Spacemesh targets users who want to participate in a decentralized network without investing in dedicated mining hardware or paying high energy costs.