Have you ever heard about Smileycoin? It is a cryptocurrency used for rewarding students for their performance in the tutor-web learning environment,
Have you ever heard about Smileycoin? It is a cryptocurrency used for rewarding students for their performance in the tutor-web learning environment, explained tutor-web.info.
Tutor Web is an online tutoring system that aims to increase math proficiency among students around the globe. The platform was created by Gunnar Stefansson and some of his colleagues from the University of Iceland.
“The tutor-web pays students for completing their drills and exercises, using the smileycoin currency. The actual amount paid varies from course to course. Currently a student gets one or a few SMLY for passing a lecture but many more (10, 100 or even 10000) for the highest grade. The student can download a SMLY wallet and redeem the earned SMLY into the wallet. The student can then pay a peer for tutoring using the smileycoins earned in the system, buy coffee for the SMLY or exchange them for other currencies.”, wrote tutor-web.info.
How it works?
Smileycoins are stored in wallets. According to tutor-web.info, there are SMLY wallets to be downloaded for Linux, Android and Windows.
“The ‘usual’ way of obtaining SMLY is by completing drills in the tutor-web system. One can also obtain SMLY by registering at a number of exchanges for cryptocurrencies and buying SMLY”, said the text on tutor-web.info.
Furthermore, since November 2015, the SMLY can be used to buy cups of coffee in a coffee shop at the University of Iceland (an experiment that has been supported by the Dean).
Bitcointalk.org presents the main specifications of Smileycoin:
|Currency name: SmileyCoin
Quantity: 50 billion
Target time per block: 3 minutes (diff recalc every 60 blocks)
Block reward: 10 000 SMLY (halved after 7 years)
50% premine, used for student rewards
Annual reward targets: equal for students and miners
Market capitalization and supply
As of 23 January, 2017 SmileyCoin has a market cap of $ 59,946, a 24-hour volume of $ 208 and available supply of 25,694,090,000 SMLY, as coinmarketcap wrote.