The next leap for ERC20 tokens: Pure SHA3 Mining

infernal_toast
Aug 8, 2018 · 1 min read

The grandfather of Cryptocurrency, Bitcoin, was designed to be a trustless secure currency for use on the internet. When Bitcoin was deployed, Satoshi started with zero. Everyone was in a fair Proof Of Work Mining playing field and had to mine the coins. This makes BTC a fundamentally sound, open, fair, and trustless currency.

When traditional Ethereum tokens are launched, they are all assigned to the deployers wallet. This makes those tokens fundamentally centralized, poor currency, and users must trust that the deployer is not evil. ICO Deployers can secretly withhold tokens. This misses the entire advantage of Cryptocurrency.


With EIP918, Ethereum developers now have a standard for building a working SHA3-algo mined ERC20 token. Included is a set of open software tools including GPU mining software, pool software in NodeJS, and even Solidity templates and examples.

http://eips.ethereum.org/EIPS/eip-918

Now we can build community tokens from the bottom up instead of the top down. This will make Ethereum a safer and more trustless place, according to Satoshi’s vision.

Join at

Http://reddit.com/r/tokenmining

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