What’s its intended utility?

Unlike Bitcoin, Spacemesh is not targeting the money/currency use case, in which SMH would be used for payments.

Instead, Spacemesh intends to implement a “Virtual Machine”, which supports smart-contracts, such that it would compete with blockchains like Ethereum as a global decentralized computer, on which businesses could build and operate decentralized applications (dApps).

True to its roots, Spacemesh designed a virtual machine architecture from first-principle thinking and solid engineering trade-off analyses, that is unique within the crypto industry. It’s called “Athena” and is described in this blog article.

The long-term objective for Spacemesh is that Athena will enable unique, and likely unforeseen use-cases that will compel businesses to choose to build their dApps on Spacemesh, rather than competing blockchains.

Next — Let’s now look at Spacemesh tokenomics. →