ERC 918 has been merged into Ethereum's Master Branch.
>Abstract of ERC 918
>This specification describes a method for initially locking tokens within a token contract and slowly dispensing them with a mint() function which acts like a faucet. This mint() function uses a Proof of Work algorithm in order to minimize gas fees and control the distribution rate. Additionally, standardization of mineable tokens will give rise to standardized CPU and GPU token mining software, token mining pools and other external tools in the token mining ecosystem.
Hmmmm.....Who was the first to implement this into its token contract?
What does the Proof of Work do though? Is it contributing to ethereums PoW hashrate?
Ethan Roberts
The PoW in this scenario is offering fair distribution.
It does not aid ethereum miners in securing the network.
The point of it is to avoid pajeet ICOs where devs get a big chunk of the supply.
David Gutierrez
Nope. It's completely pointless. Novel, but absolutely useless.
Lincoln Thompson
You should read the github. ERC 918 is not useless.
>"Motivation"
>"Token distribution via the ICO model and it's derivatives is susceptable to illicit behavior by human actors. Furthermore, new token projects are centralized because a single entity must handle and control all of the initial coins and all of the the raised ICO money. By distributing tokens via an 'Initial Mining Offering' (or IMO), the ownership of the token contract no longer belongs with the deployer at all and the deployer is 'just another user.' As a result, investor risk exposure utilizing a mined token distribution model is significantly diminished. This standard is intended to be standalone, allowing maximum interoperability with ERC20, ERC721, and others."
Matthew Bailey
Helps Americans avoid SEC garbage.
Camden Allen
Exactly! In my opinion, 0xBitcoin is a token that keeps all the best feature of Bitcoin, but gets the power of the Ethereum. It's written from the ground up and it isn't a hard fork of anything.
Jeremiah Robinson
There is also no risk of a 51% attack on the network because the main purpose of minting* is for distribution. For example, Mike.rs pool currently controls about 90% of the hashrate. It's all good under ERC 918!
I'm surprised that there are no shills refuting this. No pajeets screaming delet delet. Hmmm. I'm starting to think Jow Forums doesn't deserve good things. All I want to do is spread awareness on BTC 2.0.
Lucas Campbell
Baka
Gavin Wright
But it's dumb to use it for just currency distribution. It's only a good way to skirt SEC ICO rules. Anything else is just an inefficient waste of energy.
Isaiah Lopez
The energy is being used for a good cause. I'd argued that the energy going into 0xBitcoin gives it value. Mining takes time and computational power therefore it has value. Time is money.
ERC 918 is giving birth to hopefully a new method of dispersing coins via I.M.O, initial mining offering.
Leo Miller
No. You can spend electricity to dig a hole and fill it but it doesn't give the hole value. Are you serious.
Leo Hall
Why would you dig a hole in the first place? Would you dig without conducting research? Sounds like a waste of time and energy to me Would you dig if you knew for certain that the land you'll dig in contains gold, diamonds, or valueable gems?
Josiah Turner
bump
Caleb Hill
0xBTC gives me a massive sense of nostalgia, it feels like 2010 again
Cooper King
It sure does Jow Forums bro. It's extremely under the radar. I get goosebumps reading the following:
>This tool is the first truly Proof of Work mined token on Ethereum. 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 very important that the community looks to shift payments to a token that is 1) specifically designed for the purpose of payments and that 2) interacts with all standardized token services unlike Ether.
Lol, how dumb do you Ranjeets think we are? You’ve spent the last month making weird 0xBTC memes and now this coordinated shilling for the shitcoin. Just look at this laughable comment Laughable
Tyler Perez
What is Forkdelta? Enclaves? TokenJar?
Help out if you want this on a "real exchange". You should consider yourself lucky miners are even selling 0xBitcoin to you.
Listen you ragamuffin. You and the rest of your poo brothers in arms can try all you want to spread FUD! The facts is that ERC 918 is an official Ethereum Specification, and it exists because of the creation of 0xBitcoin.
