Abstract: Bitcoin was ported onto Ethereum as 0xBTC on Feb-06-2018 04:03:46 AM +UTC. It is the first PoW-mineable ERC-20 token. It has the same halvings, difficulty, eras, and total coin cap of Bitcoin, but with the speed and versatility of an ERC-20 token on the Ethereum Blockchain. This allows the token to be used within Ethereum smart contracts. This coin has never had an ICO or airdrop.
The purpose of this token is to provide a tool that is the first truly Proof of Work mined ERC token on the Ethereum blockchain. This tool is also the first decentralized payment mechanism on Ethereum besides Ether itself. This is important because Ether is not designed to be a currency or to be a base pair. It is designed to be the lifeblood for the Ethereum Network. Ether is only a 'means to an end' for that purpose and would not exist if the Ethereum network could be secured without it. Therefore it is important that the community looks to shift payments to a token that is 1) specifically designed for the purpose of payments, as it is much cheaper and faster to send this token compared to sending ether, and that 2) interacts with all standardized token services unlike Ether.
Attributes: - No premine
- No initial coin offering (ICO)
- Mine for free with a CPU/GPU in a pool or solo
- Decentralized community and ownership (Operated as a DAO)
- There is no central entity controlling or operating this project
- Mine and transfer exactly like bitcoin, but 10x faster and 100x cheaper.
- Interfaces with smart contracts on the Ethereum blockchain for storing and transferring value, unlike Ether. (Ether is not intended to be used for payments and is not a token.)
- First ever mineable ERC token on Ethereum Blockchain
Abstract: Bitcoin was ported onto Ethereum as 0xBTC on Feb-06-2018 04:03:46 AM +UTC. It is the first PoW-mineable ERC-20 token. It has the same halvings, difficulty, eras, and total coin cap of Bitcoin, but with the speed and versatility of an ERC-20 token on the Ethereum Blockchain. This allows the token to be used within Ethereum smart contracts.
The purpose of this token is to provide a tool that is the first truly Proof of Work mined ERC token on the Ethereum blockchain. This tool is also the first decentralized payment mechanism on Ethereum besides Ether itself. This is important because Ether is not designed to be a currency or to be a base pair. It is designed to be the lifeblood for the Ethereum Network. Ether is only a 'means to an end' for that purpose and would not exist if the Ethereum network could be secured without it. Therefore it is important that the community looks to shift payments to a token that is 1) specifically designed for the purpose of payments, as it is much cheaper and faster to send this token compared to sending ether, and that 2) interacts with all standardized token services unlike Ether.
Attributes: - No premine - No initial coin offering (ICO) - Mine for free with a CPU/GPU in a pool or solo - Decentralized community and ownership (Operated as a DAO) - There is no central entity controlling or operating this project - Mine and transfer exactly like bitcoin, but 10x faster and 100x cheaper. - Interfaces with smart contracts on the Ethereum blockchain for storing and transferring value, unlike Ether. (Ether is not intended to be used for payments and is not a token.) - First ever mineable ERC token on Ethereum Blockchain
so this is basically for trading and transferring money, right? no other use case?
Essentially, it has everything that gave BTC value in the first place, however now it is run on a faster and more secure and more decentralized network--Ethereum. 0xBitcoin is faster, more decentralized, can be used within smart contracts, and more versatile than BTC itself, all while keeping the features which inspired the original Bitcoin. Its community has dozens of miners and an active developer base working on mining pools and open source GPU miners for everyone to use.
Post
Topic
BoardTokens (Altcoins)
Re: [ANN] 0xBitcoin [0xBTC] - Decentralized RC20 Token - Mined With Proof of Work
by
domm
on 28/02/2018, 20:30:33 UTC
It's been all over reddit.com/r/ethereum and reddit.com/r/ethtrader.
Since I love the idea of standardized ERC20 tokens but I hate the ICO distribution model, I developed a reference implementation for a standard Ethereum token that can be mined using Proof of Work via a smart contract. This way, we can return to the days when a new blockchain asset is simply mined. I also see this as more important as Ethereum moves away from Proof of Work and leaves a void for GPUs and mining rigs everywhere. Instead of PoW mining ether itself, the tokens can be mined.
