Bitcoin Implemented As An Ethereum Smart Contract - Just Your Typical Friday Mind Boggler
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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We will have enough crypto currencies the day we reach 9000... And yes, it is indeed an interesting technological feast, a minable erc20 token... now that I think about it, I believe I've have seen a few of those running around bitcointalk.
I swear to anything that there will be less than 50 coins that will be still around and relevant 5 years later.
But it's nice to see the various attempts.
And pump-n-dumps, too.
@dragosroua I just can't keep UP with everything. It all changes so FAST !
We have seen this before.
Its spelled S C A M
Now I think we can safely spell this as J O K E :)
And we ain't seen nuthin' yet!
Now bitcoin journey is complet haha :D
The next step would be an Etherum characteristics in an ETH smart contract on Ethereum
Full circle!
:))
Lol crazy!
_
Diversity of approaches in the crypto world.
This is hot!
Sometimes you do things just because you can :D
Honestly, even if the coin is worthless would be nice to see a coin that someone can mine on a desktop, set-up a wallet with, and send it to friends back and forth to get people more familiar with bitcoin how it works.
Hahahahaha, that's prettyyyy, and also pretty funny! It's like the rule 34 of cryptocurrencies. If the concept exists, somebody has created a cryptocurrency for it.