Since the world didn't have enough crypto currencies, somebody thought to create yet another one, this time in a perplexing manner.

To put it shortly: he implemented the Bitcoin characteristics in an Ethereum smart contract (deployed, obviously, on Ethereum). It's called 0xbitcoin and it's basically an ERC20 token, but based on the Bitcoin Core characteristics:

• No pre-mine
• No ICO
• 21,000,000 tokens total
• Difficulty target auto-adjusts with PoW hashrate
• Rewards decrease as more tokens are minted

So, instead of creating an ICO and then having people sending ETH to get the ERC20 token, this contract dispense the 0xbitcoin tokens based on a small CPU miner (downloadable at the same link above). You get your own Bitcoin, on top of Ethereum :)

I don't know if somebody deployed the contract yet, but it's nice - and mind-boggling, obviously - to see such a technical feast.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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